Charter Oak Capital Management LLC purchased a new position in shares of Alaska Air Group, Inc. (NYSE:ALK – Get Rating) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 750 shares of the transportation company's stock, valued at approximately $30,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ieq Capital LLC boosted its stake in Alaska Air Group by 4.8% in the 1st quarter. Ieq Capital LLC now owns 4,505 shares of the transportation company's stock worth $261,000 after purchasing an additional 206 shares during the period. State of Michigan Retirement System boosted its stake in Alaska Air Group by 0.7% in the 1st quarter. State of Michigan Retirement System now owns 31,762 shares of the transportation company's stock worth $1,843,000 after purchasing an additional 231 shares during the period. Quadrant Capital Group LLC boosted its stake in Alaska Air Group by 34.0% in the 1st quarter. Quadrant Capital Group LLC now owns 910 shares of the transportation company's stock worth $53,000 after purchasing an additional 231 shares during the period. Belpointe Asset Management LLC boosted its stake in Alaska Air Group by 10.4% in the 1st quarter. Belpointe Asset Management LLC now owns 2,495 shares of the transportation company's stock worth $145,000 after purchasing an additional 236 shares during the period. Finally, Daiwa Securities Group Inc. boosted its stake in Alaska Air Group by 20.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 1,400 shares of the transportation company's stock worth $81,000 after purchasing an additional 236 shares during the period. Institutional investors own 76.13% of the company's stock.
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Alaska Air Group Stock Performance
Alaska Air Group stock opened at $39.91 on Tuesday. The firm has a fifty day simple moving average of $44.51 and a two-hundred day simple moving average of $46.98. The company has a quick ratio of 0.84, a current ratio of 0.86 and a debt-to-equity ratio of 0.52. Alaska Air Group, Inc. has a twelve month low of $38.19 and a twelve month high of $63.76. The company has a market capitalization of $5.03 billion, a PE ratio of 24.64 and a beta of 1.41.
Alaska Air Group (NYSE:ALK – Get Rating) last released its earnings results on Thursday, July 21st. The transportation company reported $2.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.25. Alaska Air Group had a return on equity of 8.97% and a net
margin of 2.54%. The company had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the previous year, the company posted ($0.30) EPS. Alaska Air Group's revenue for the quarter was up 74.1% on a year-over-year basis. Research analysts expect that Alaska Air Group, Inc. will post 4.37 EPS for the current year.
Insider Buying and Selling at Alaska Air Group
In other Alaska Air Group news, EVP Andrew R. Harrison sold 2,267 shares of the business's stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $44.13, for a total value of $100,042.71. Following the completion of the sale, the executive vice president now owns 14,152 shares in the company, valued at $624,527.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alaska Air Group news, EVP Andrew R. Harrison sold 2,267 shares of the business's stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $44.13, for a total value of $100,042.71. Following the completion of the sale, the executive vice president now owns 14,152 shares in the company, valued at $624,527.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew R. Harrison sold 3,275 shares of the business's stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $45.90, for a total value of $150,322.50. Following the completion of the sale, the executive vice president now owns 10,877 shares of the company's stock, valued at approximately $499,254.30. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have commented on ALK shares. Susquehanna cut their target price on Alaska Air Group from $68.00 to $50.00 and set a "positive" rating for the company in a research note on Tuesday, July 12th. Melius initiated coverage on shares of Alaska Air Group in a research note on Monday, August 15th. They issued a "buy" rating on the stock. StockNews.com raised shares of Alaska Air Group from a "hold" rating to a "buy" rating in a research note on Friday, July 22nd. Morgan Stanley lowered their price objective on shares of Alaska Air Group from $73.00 to $70.00 and set an "overweight" rating on the stock in a research report on Monday, July 25th. Finally, Raymond James lowered shares of Alaska Air Group from a "strong-buy" rating to an "outperform" rating and cut their target price for the stock from $75.00 to $58.00 in a research report on Thursday, June 23rd. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Alaska Air Group presently has a consensus rating of "Moderate Buy" and an average price target of $66.44.
About Alaska Air Group
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Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It flies to approximately 120 destinations throughout North America. Alaska Air Group, Inc was founded in 1932 and is based in Seattle, Washington.
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