New Mexico Educational Retirement Board Increases Stock Position in Alaska Air Group, Inc. (NYSE:ALK)

Posted by Defense World Staff on Oct 6th, 2023

New Mexico Educational Retirement Board lifted its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK – Free Report) by 5.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,150 shares of the transportation company’s stock after acquiring an additional 300 shares during the period. New Mexico Educational Retirement Board’s holdings in Alaska Air Group were worth $327,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Wealthcare Advisory Partners LLC purchased a new position in shares of Alaska Air Group during the second quarter worth approximately $206,000. Sciencast Management LP purchased a new position in Alaska Air Group in the 2nd quarter valued at $331,000. Capital Advisors Wealth Management LLC purchased a new position in Alaska Air Group in the 2nd quarter valued at $202,000. Level Four Advisory Services LLC grew its position in Alaska Air Group by 13.4% in the 2nd quarter. Level Four Advisory Services LLC now owns 78,795 shares of the transportation company’s stock valued at $4,190,000 after buying an additional 9,330 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in Alaska Air Group by 34.9% in the 2nd quarter. SG Americas Securities LLC now owns 11,039 shares of the transportation company’s stock valued at $587,000 after buying an additional 2,855 shares during the last quarter. 80.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALK has been the topic of a number of analyst reports. Morgan Stanley lowered their price objective on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday. Raymond James lowered their price objective on shares of Alaska Air Group from $75.00 to $58.00 and set a “strong-buy” rating on the stock in a research report on Thursday. Bank of America lifted their price objective on shares of Alaska Air Group from $58.00 to $62.00 in a research report on Monday, June 26th. The Goldman Sachs Group reduced their target price on Alaska Air Group from $63.00 to $61.00 and set a “buy” rating for the company in a report on Tuesday, July 25th. Finally, Susquehanna reduced their target price on Alaska Air Group from $65.00 to $58.00 in a report on Wednesday, July 26th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.33.

Get Our Latest Research Report on ALK

Alaska Air Group Trading Down 1.3 %

NYSE:ALK opened at $35.67 on Friday. The company has a market capitalization of $4.54 billion, a PE ratio of 29.00, a price-to-earnings-growth ratio of 0.49 and a beta of 1.55. The company has a quick ratio of 0.61, a current ratio of 0.63 and a debt-to-equity ratio of 0.48. Alaska Air Group, Inc. has a 52-week low of $35.42 and a 52-week high of $57.18. The stock has a fifty day simple moving average of $41.73 and a 200-day simple moving average of $44.77.

Alaska Air Group (NYSE:ALK – Get Free Report) last released its quarterly earnings results 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 quarter in the previous year, the company posted $2.19 EPS. On average, equities research analysts expect that Alaska Air Group, Inc. will post 5.68 earnings per share for the current fiscal year.

Alaska Air Group Company Profile

(Free Report)

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.