Spire Wealth Management boosted its stake in Alaska Air Group, Inc. (NYSE:ALK – Free Report) by 15.1% in the 1st quarter, Holdings Channel reports. The firm owned 2,597 shares of the transportation company’s stock after buying an additional 340 shares during the quarter. Spire Wealth Management’s holdings in Alaska Air Group were worth $109,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. LSV Asset Management increased its holdings in Alaska Air Group by 174.8% in the 4th quarter. LSV Asset Management now owns 1,974,216 shares of the transportation company’s stock valued at $84,773,000 after purchasing an additional 1,255,861 shares in the last quarter. Texas Permanent School Fund grew its stake in shares of Alaska Air Group by 6.4% during the fourth quarter. Texas Permanent School Fund now owns 19,087 shares of the transportation company’s stock valued at $820,000 after acquiring an additional 1,151 shares in the last quarter. Boston Partners grew its stake in shares of Alaska Air Group by 0.7% during the first quarter. Boston Partners now owns 3,412,339 shares of the transportation company’s stock valued at $143,198,000 after acquiring an additional 23,436 shares in the last quarter. Becker Capital Management Inc. grew its stake in shares of Alaska Air Group by 87.0% during the fourth quarter. Becker Capital Management Inc. now owns 409,869 shares of the transportation company’s stock valued at $17,600,000 after acquiring an additional 190,710 shares in the last quarter. Finally, Amalgamated Bank grew its stake in shares of Alaska Air Group by 46.0% during the fourth quarter. Amalgamated Bank now owns 61,052 shares of the transportation company’s stock valued at $2,622,000 after acquiring an additional 19,230 shares in the last quarter. 79.04% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on ALK shares. JPMorgan Chase & Co. lowered their target price on Alaska Air Group from $91.00 to $70.00 in a research note on Monday, May 8th. The Goldman Sachs Group lowered their target price on Alaska Air Group from $63.00 to $61.00 and set a “buy” rating for the company in a research note on Tuesday, July 25th. Bank of America lifted their price target on Alaska Air Group from $58.00 to $62.00 in a research note on Monday, June 26th. Citigroup lifted their price target on Alaska Air Group from $58.50 to $64.25 in a research note on Tuesday, July 11th. Finally, StockNews.com initiated coverage on Alaska Air Group in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.03.
Alaska Air Group Stock Performance
Shares of ALK stock opened at $42.73 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 0.63 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average of $49.86 and a two-hundred day moving average of $46.61. Alaska Air Group, Inc. has a 52 week low of $37.19 and a 52 week high of $57.18. The company has a market cap of $5.44 billion, a P/E ratio of 34.74, a PEG ratio of 0.29 and a beta of 1.54.
Alaska Air Group (NYSE:ALK – Get Free Report) last issued its quarterly earnings data on Tuesday, July 25th. The transportation company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.29. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.77 billion. Alaska Air Group had a return on equity of 19.66% and a net margin of 1.55%. The business’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.19 earnings per share. As a group, analysts anticipate that Alaska Air Group, Inc. will post 6.59 EPS for the current year.
Insider Transactions at Alaska Air Group
In other news, CEO Benito Minicucci sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $48.73, for a total transaction of $243,650.00. Following the completion of the transaction, the chief executive officer now directly owns 114,506 shares in the company, valued at $5,579,877.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.68% of the company’s stock.
Alaska Air Group 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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