Alaska Air Group Target of Unusually High Options Trading (NYSE:ALK)

Posted by Defense World Staff on Oct 7th, 2023

Alaska Air Group, Inc. (NYSE:ALK – Get Free Report) saw some unusual options trading activity on Friday. Investors purchased 11,675 put options on the stock. This represents an increase of 548% compared to the typical volume of 1,803 put options.

Alaska Air Group Price Performance

Alaska Air Group stock opened at $35.07 on Friday. Alaska Air Group has a 52-week low of $34.97 and a 52-week high of $57.18. The company has a market cap of $4.46 billion, a price-to-earnings ratio of 28.51, a PEG ratio of 0.59 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. The firm’s fifty day moving average is $41.47 and its 200 day moving average is $44.74.

Alaska Air Group (NYSE:ALK – Get Free Report) last announced its earnings results on Tuesday, July 25th. The transportation company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.29. Alaska Air Group had a net margin of 1.55% and a return on equity of 19.66%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the firm posted $2.19 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Sell-side analysts forecast that Alaska Air Group will post 5.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC grew its holdings in shares of Alaska Air Group by 10.3% in the third quarter. International Assets Investment Management LLC now owns 8,391 shares of the transportation company’s stock worth $306,000 after purchasing an additional 785 shares during the last quarter. Barclays PLC grew its holdings in shares of Alaska Air Group by 61.9% in the second quarter. Barclays PLC now owns 217,669 shares of the transportation company’s stock worth $11,574,000 after purchasing an additional 83,246 shares during the last quarter. Tucker Asset Management LLC grew its holdings in shares of Alaska Air Group by 448.6% in the second quarter. Tucker Asset Management LLC now owns 812 shares of the transportation company’s stock worth $43,000 after purchasing an additional 664 shares during the last quarter. Comerica Bank bought a new position in shares of Alaska Air Group in the second quarter worth about $272,000. Finally, Osaic Holdings Inc. grew its holdings in shares of Alaska Air Group by 1.5% in the second quarter. Osaic Holdings Inc. now owns 54,356 shares of the transportation company’s stock worth $2,892,000 after purchasing an additional 796 shares during the last quarter. 80.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Alaska Air Group from $58.50 to $64.25 in a research report on Tuesday, July 11th. Bank of America upped their price target on shares of Alaska Air Group from $58.00 to $62.00 in a research report on Monday, June 26th. Barclays lowered their target price on shares of Alaska Air Group from $62.00 to $50.00 in a report on Thursday. Morgan Stanley lowered their target price on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, October 2nd. Finally, StockNews.com started coverage on shares of Alaska Air Group in a report on Thursday. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.33.

View Our Latest Stock Analysis on Alaska Air Group

Alaska Air Group Company Profile

(Get 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.