Alaska Air Group, Inc. (NYSE:ALK) Shares Purchased by Geode Capital Management LLC

Posted by on Jun 8th, 2023

Geode Capital Management LLC grew its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK – Get Rating) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,631,295 shares of the transportation company’s stock after purchasing an additional 68,320 shares during the quarter. Geode Capital Management LLC owned approximately 2.07% of Alaska Air Group worth $112,873,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Covestor Ltd increased its stake in Alaska Air Group by 416.4% in the first quarter. Covestor Ltd now owns 568 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 458 shares during the last quarter. Capital Advisors Ltd. LLC increased its stake in Alaska Air Group by 1,873.5% during the fourth quarter. Capital Advisors Ltd. LLC now owns 671 shares of the transportation company’s stock worth $29,000 after acquiring an additional 637 shares during the last quarter. First Command Bank increased its stake in Alaska Air Group by 250.0% during the fourth quarter. First Command Bank now owns 700 shares of the transportation company’s stock worth $30,000 after acquiring an additional 500 shares during the last quarter. Eagle Bay Advisors LLC increased its stake in Alaska Air Group by 207.2% during the third quarter. Eagle Bay Advisors LLC now owns 728 shares of the transportation company’s stock worth $29,000 after acquiring an additional 491 shares during the last quarter. Finally, Ten Capital Wealth Advisors LLC boosted its position in shares of Alaska Air Group by 174.4% in the fourth quarter. Ten Capital Wealth Advisors LLC now owns 741 shares of the transportation company’s stock worth $32,000 after buying an additional 471 shares during the period. Institutional investors and hedge funds own 77.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ALK. JPMorgan Chase & Co. decreased their target price on Alaska Air Group from $91.00 to $70.00 in a research report on Monday, May 8th. Barclays raised Alaska Air Group from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $54.00 to $62.00 in a report on Friday, March 10th. Raymond James raised Alaska Air Group from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $60.00 to $68.00 in a report on Monday, April 3rd. StockNews.com assumed coverage on Alaska Air Group in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Morgan Stanley increased their price target on Alaska Air Group from $71.00 to $75.00 in a research report on Monday, April 24th. Two investment 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. Based on data from MarketBeat.com, Alaska Air Group has an average rating of “Moderate Buy” and an average price target of $63.86.

Alaska Air Group Stock Performance

ALK opened at $48.36 on Thursday. The firm has a market cap of $6.19 billion, a PE ratio of 105.13, a P/E/G ratio of 0.30 and a beta of 1.52. The company has a quick ratio of 0.62, a current ratio of 0.64 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $43.64 and a 200-day simple moving average of $45.42. Alaska Air Group, Inc. has a fifty-two week low of $37.19 and a fifty-two week high of $53.96.

Alaska Air Group (NYSE:ALK – Get Rating) last released its quarterly earnings data on Thursday, April 20th. The transportation company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.14). The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. Alaska Air Group had a return on equity of 17.03% and a net margin of 0.58%. The business’s revenue was up 30.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.33) earnings per share. As a group, equities analysts predict that Alaska Air Group, Inc. will post 6.3 EPS for the current fiscal year.

Alaska Air Group Profile

(Get Rating)

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.

Featured Stories

Want to see what other hedge funds are holding ALK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alaska Air Group, Inc. (NYSE:ALK – Get Rating).

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

Receive News & Ratings for Alaska Air Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alaska Air Group and related companies with MarketBeat.com's FREE daily email newsletter.