Quadrant Capital Group LLC Cuts Stake in Alaska Air Group, Inc. (NYSE:ALK)

Posted by on Jun 8th, 2023

Quadrant Capital Group LLC lowered its position in shares of Alaska Air Group, Inc. (NYSE:ALK – Get Rating) by 33.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,053 shares of the transportation company’s stock after selling 531 shares during the quarter. Quadrant Capital Group LLC’s holdings in Alaska Air Group were worth $45,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of ALK. Eagle Bay Advisors LLC raised its position in Alaska Air Group by 207.2% during the 3rd quarter. Eagle Bay Advisors LLC now owns 728 shares of the transportation company’s stock worth $29,000 after buying an additional 491 shares during the last quarter. Capital Advisors Ltd. LLC grew its stake in shares of Alaska Air Group by 1,873.5% during the 4th quarter. Capital Advisors Ltd. LLC now owns 671 shares of the transportation company’s stock worth $29,000 after purchasing an additional 637 shares during the period. First Command Bank grew its stake in shares of Alaska Air Group by 250.0% during the 4th quarter. First Command Bank now owns 700 shares of the transportation company’s stock worth $30,000 after purchasing an additional 500 shares during the period. Ten Capital Wealth Advisors LLC grew its stake in shares of Alaska Air Group by 174.4% during the 4th quarter. Ten Capital Wealth Advisors LLC now owns 741 shares of the transportation company’s stock worth $32,000 after purchasing an additional 471 shares during the period. Finally, Covestor Ltd grew its stake in shares of Alaska Air Group by 416.4% during the 1st quarter. Covestor Ltd now owns 568 shares of the transportation company’s stock worth $33,000 after purchasing an additional 458 shares during the period. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ALK. Morgan Stanley upped their price target on shares of Alaska Air Group from $71.00 to $75.00 in a research note on Monday, April 24th. JPMorgan Chase & Co. lowered their price objective on shares of Alaska Air Group from $91.00 to $70.00 in a research note on Monday, May 8th. Barclays raised shares of Alaska Air Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $54.00 to $62.00 in a research note on Friday, March 10th. StockNews.com began coverage on shares of Alaska Air Group in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, Raymond James raised shares of Alaska Air Group from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $60.00 to $68.00 in a research note on Monday, April 3rd. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.86.

Alaska Air Group Price Performance

Alaska Air Group stock opened at $48.36 on Thursday. Alaska Air Group, Inc. has a 1 year low of $37.19 and a 1 year high of $53.96. The firm has a 50 day moving average price of $43.64 and a 200 day moving average price of $45.42. The company has a market cap of $6.19 billion, a price-to-earnings ratio of 105.13, a PEG ratio of 0.30 and a beta of 1.52. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.62 and a current ratio of 0.64.

Alaska Air Group (NYSE:ALK – Get Rating) last released its earnings results on Thursday, April 20th. The transportation company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.14). Alaska Air Group had a net margin of 0.58% and a return on equity of 17.03%. The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the firm posted ($1.33) earnings per share. Alaska Air Group’s revenue for the quarter was up 30.6% compared to the same quarter last year. Sell-side analysts predict that Alaska Air Group, Inc. will post 6.3 earnings per share for the current year.

Alaska Air Group Profile

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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.

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

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