Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK – Get Rating) by 12.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,124 shares of the transportation company’s stock after purchasing an additional 1,949 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Alaska Air Group were worth $778,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Alliancebernstein L.P. boosted its holdings in Alaska Air Group by 144.4% during the 3rd quarter. Alliancebernstein L.P. now owns 2,869,150 shares of the transportation company’s stock valued at $112,327,000 after acquiring an additional 1,695,004 shares during the period. LSV Asset Management boosted its holdings in Alaska Air Group by 174.8% during the 4th quarter. LSV Asset Management now owns 1,974,216 shares of the transportation company’s stock valued at $84,773,000 after acquiring an additional 1,255,861 shares during the period. Clearbridge Investments LLC purchased a new position in shares of Alaska Air Group in the 1st quarter valued at about $62,390,000. Dimensional Fund Advisors LP boosted its stake in shares of Alaska Air Group by 41.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,871,802 shares of the transportation company’s stock valued at $112,432,000 after buying an additional 839,832 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Alaska Air Group by 7.0% in the 4th quarter. Victory Capital Management Inc. now owns 6,924,672 shares of the transportation company’s stock valued at $297,404,000 after buying an additional 455,784 shares during the period. 77.04% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the company. Barclays upgraded Alaska Air Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $54.00 to $62.00 in a research note on Friday, March 10th. Raymond James upgraded 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 research note on Monday, April 3rd. Susquehanna lifted their price objective on Alaska Air Group from $55.00 to $59.00 and gave the company a “positive” rating in a research note on Thursday, February 2nd. JPMorgan Chase & Co. decreased their price objective on Alaska Air Group from $91.00 to $70.00 in a research note on Monday, May 8th. Finally, StockNews.com began coverage on Alaska Air Group in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.86.
Alaska Air Group Trading Down 0.6 %
Alaska Air Group (NYSE:ALK – Get Rating) last released its quarterly earnings results on Thursday, April 20th. The transportation company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.14). The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.19 billion. Alaska Air Group had a return on equity of 17.03% and a net margin of 0.58%. The company’s quarterly revenue was up 30.6% on a year-over-year basis. During the same period last year, the firm earned ($1.33) EPS. On average, research analysts predict that Alaska Air Group, Inc. will post 6.3 EPS for the current year.
Insiders Place Their Bets
In other Alaska Air Group news, Director J Kenneth Thompson sold 3,500 shares of Alaska Air Group stock in a transaction that occurred 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 transaction, the director now owns 29,907 shares of the company’s stock, valued at $1,452,882.06. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.40% of the stock is currently owned by corporate insiders.
About Alaska Air Group
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.
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