Ieq Capital LLC bought a new position in shares of Alaska Air Group, Inc. (NYSE:ALK – Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,787 shares of the transportation company’s stock, valued at approximately $243,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Covestor Ltd raised its holdings in shares of Alaska Air Group by 416.4% in the 1st quarter. Covestor Ltd now owns 568 shares of the transportation company’s stock worth $33,000 after purchasing an additional 458 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position 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 valued at $29,000 after acquiring an additional 637 shares during the last quarter. First Command Bank boosted 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 acquiring an additional 500 shares in the last quarter. Ten Capital Wealth Advisors LLC grew its holdings in shares of Alaska Air Group by 174.4% in the 4th quarter. Ten Capital Wealth Advisors LLC now owns 741 shares of the transportation company’s stock worth $32,000 after acquiring an additional 471 shares during the last quarter. Finally, Sittner & Nelson LLC grew its holdings in shares of Alaska Air Group by 300.0% in the 4th quarter. Sittner & Nelson LLC now owns 800 shares of the transportation company’s stock worth $34,000 after acquiring an additional 600 shares during the last quarter. 79.04% of the stock is currently owned by institutional investors.
Insider Transactions at Alaska Air Group
In related news, CEO Benito Minicucci sold 5,000 shares of Alaska Air Group stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $48.73, for a total value of $243,650.00. Following the completion of the sale, the chief executive officer now owns 114,506 shares of the company’s stock, valued at approximately $5,579,877.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.40% of the stock is currently owned by company insiders.
Alaska Air Group Stock Performance
Alaska Air Group (NYSE:ALK – Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The transportation company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.71 by $0.29. Alaska Air Group had a return on equity of 17.03% and a net margin of 0.58%. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the previous year, the business posted $2.19 EPS. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. Analysts anticipate that Alaska Air Group, Inc. will post 6.56 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on ALK shares. Citigroup increased their price target on Alaska Air Group from $58.50 to $64.25 in a research report on Tuesday, July 11th. Morgan Stanley boosted their price target on shares of Alaska Air Group from $71.00 to $75.00 in a report on Monday, April 24th. JPMorgan Chase & Co. decreased their price objective on shares of Alaska Air Group from $91.00 to $70.00 in a research note on Monday, May 8th. Susquehanna cut their target price on shares of Alaska Air Group from $65.00 to $58.00 in a research note on Wednesday. Finally, Barclays decreased their target price on Alaska Air Group from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Tuesday. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.03.
Alaska Air Group Company Profile
Alaska Air Group, Inc, through its subsidiaries, operated airlines. The company operates through three segments: Mainline, Regional, and Horizon. The company offers scheduled air transportation services on Boeing and Airbus jet aircraft for passengers and cargo throughout the United States, and in parts of Mexico, Costa Rica, and Belize; and for passengers across a shorter distance network within the United States and Canada.
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