Diamond Hill Capital Management Inc. Sells 367,715 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Diamond Hill Capital Management Inc. lessened its position in Alaska Air Group, Inc. (NYSE:ALK) by 31.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 794,139 shares of the transportation company’s stock after selling 367,715 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Alaska Air Group were worth $32,083,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Principal Securities Inc. bought a new stake in shares of Alaska Air Group in the fourth quarter worth $39,000. LifeSteps Financial Inc. acquired a new stake in Alaska Air Group in the 1st quarter valued at $65,000. Parallel Advisors LLC lifted its position in Alaska Air Group by 28.4% during the 4th quarter. Parallel Advisors LLC now owns 1,688 shares of the transportation company’s stock worth $66,000 after buying an additional 373 shares in the last quarter. Halpern Financial Inc. acquired a new position in shares of Alaska Air Group during the 2nd quarter worth about $81,000. Finally, CVA Family Office LLC grew its holdings in shares of Alaska Air Group by 17.1% in the 1st quarter. CVA Family Office LLC now owns 2,230 shares of the transportation company’s stock valued at $96,000 after acquiring an additional 325 shares in the last quarter. Institutional investors own 81.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ALK shares. TD Cowen increased their price target on Alaska Air Group from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Friday. Morgan Stanley decreased their target price on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Susquehanna cut their price target on shares of Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, July 16th. Citigroup decreased their price objective on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Finally, Bank of America upped their target price on shares of Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Alaska Air Group Price Performance

Shares of NYSE ALK opened at $41.64 on Friday. The firm has a market cap of $5.25 billion, a P/E ratio of 22.27, a price-to-earnings-growth ratio of 0.60 and a beta of 1.59. The business’s 50 day moving average is $36.88 and its 200-day moving average is $39.80. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55. Alaska Air Group, Inc. has a 1-year low of $30.75 and a 1-year high of $46.15.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, July 18th. The transportation company reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.19. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. The firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter last year, the business earned $3.00 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities research analysts predict that Alaska Air Group, Inc. will post 4.17 earnings per share for the current year.

Alaska Air Group Profile

Alaska Air Group, Inc, through its subsidiaries, operates airlines. It operates through three segments: Mainline, Regional, and Horizon. The company offers scheduled air transportation services on Boeing jet aircraft for passengers and cargo in the United States, and in parts of Canada, Mexico, Costa Rica, Belize, Guatemala, and the Bahamas; and for passengers across a shorter distance network within the United States, Canada, and Mexico.