National Bank of Canada FI Raises Stock Position in Alaska Air Group, Inc. (NYSE:ALK)

Posted by on Apr 6th, 2023

National Bank of Canada FI boosted its holdings in Alaska Air Group, Inc. (NYSE:ALK – Get Rating) by 599.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 183,230 shares of the transportation company’s stock after buying an additional 157,030 shares during the period. National Bank of Canada FI owned 0.14% of Alaska Air Group worth $7,868,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ALK. Coombe Bender & Co LLC lifted its holdings in shares of Alaska Air Group by 0.4% in the 3rd quarter. Coombe Bender & Co LLC now owns 56,208 shares of the transportation company’s stock valued at $2,201,000 after acquiring an additional 222 shares during the last quarter. Valeo Financial Advisors LLC lifted its stake in Alaska Air Group by 4.4% in the third quarter. Valeo Financial Advisors LLC now owns 7,126 shares of the transportation company’s stock worth $279,000 after purchasing an additional 300 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Alaska Air Group by 19.9% in the first quarter. Geneos Wealth Management Inc. now owns 1,811 shares of the transportation company’s stock worth $105,000 after purchasing an additional 300 shares during the last quarter. BDO Wealth Advisors LLC lifted its stake in Alaska Air Group by 1.5% in the second quarter. BDO Wealth Advisors LLC now owns 20,094 shares of the transportation company’s stock worth $805,000 after purchasing an additional 303 shares during the last quarter. Finally, Barnett & Company Inc. lifted its stake in Alaska Air Group by 1.8% in the third quarter. Barnett & Company Inc. now owns 19,180 shares of the transportation company’s stock worth $751,000 after purchasing an additional 330 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Alaska Air Group Stock Down 0.0 %

Shares of NYSE ALK opened at $41.95 on Thursday. Alaska Air Group, Inc. has a 12-month low of $37.19 and a 12-month high of $61.55. The stock has a market cap of $5.35 billion, a PE ratio of 97.56, a P/E/G ratio of 0.37 and a beta of 1.51. The company has a current ratio of 0.68, a quick ratio of 0.65 and a debt-to-equity ratio of 0.86. The company has a 50-day moving average of $46.36 and a 200 day moving average of $45.15.

Alaska Air Group (NYSE:ALK – Get Rating) last posted its quarterly earnings results on Thursday, January 26th. The transportation company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Alaska Air Group had a net margin of 0.60% and a return on equity of 14.75%. The business’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.24 EPS. As a group, sell-side analysts predict that Alaska Air Group, Inc. will post 5.89 EPS for the current fiscal year.

Insider Activity at Alaska Air Group

In related news, SVP Andrea L. Schneider sold 1,596 shares of the stock in a transaction on Friday, January 27th. The shares were sold at an average price of $50.81, for a total value of $81,092.76. Following the transaction, the senior vice president now directly owns 15,747 shares of the company’s stock, valued at approximately $800,105.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Alaska Air Group news, SVP Andrea L. Schneider sold 1,596 shares of the firm’s stock in a transaction on Friday, January 27th. The shares were sold at an average price of $50.81, for a total transaction of $81,092.76. Following the transaction, the senior vice president now directly owns 15,747 shares of the company’s stock, valued at approximately $800,105.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J Kenneth Thompson sold 3,500 shares of the firm’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $48.58, for a total transaction of $170,030.00. Following the completion of the sale, the director now owns 29,907 shares of the company’s stock, valued at approximately $1,452,882.06. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

ALK has been the subject of several analyst reports. Wolfe Research downgraded shares of Alaska Air Group from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 27th. Raymond James raised shares of Alaska Air Group from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $60.00 to $68.00 in a report on Monday. The Goldman Sachs Group initiated coverage on shares of Alaska Air Group in a report on Friday, December 16th. They issued a “buy” rating and a $60.00 price target on the stock. StockNews.com initiated coverage on shares of Alaska Air Group in a research report on Thursday, March 16th. They set a “hold” rating for the company. Finally, Barclays upgraded shares of Alaska Air Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $54.00 to $62.00 in a research report on Friday, March 10th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $65.41.

About Alaska Air Group

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Alaska Air Group, Inc is a holding company, which engages in the provision of air transportation services. It operates through the following segments: Mainline, Regional, and Horizon. The Mainline segment includes scheduled air transportation on Alaska’s Boeing and Airbus jet aircraft for passengers and cargo throughout the U.S., and in parts of Mexico, Costa Rica and Belize.

Further Reading

Institutional Ownership by Quarter for Alaska Air Group (NYSE:ALK)

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