Short Interest in Alaska Air Group, Inc. (NYSE:ALK) Rises By 15.5%

Alaska Air Group, Inc. (NYSE:ALK) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 10,290,000 shares, an increase of 15.5% from the September 30th total of 8,910,000 shares. Based on an average daily volume of 2,400,000 shares, the short-interest ratio is presently 4.3 days.

Institutional Investors Weigh In On Alaska Air Group

A number of institutional investors and hedge funds have recently modified their holdings of ALK. QRG Capital Management Inc. lifted its stake in Alaska Air Group by 2.7% during the 3rd quarter. QRG Capital Management Inc. now owns 9,271 shares of the transportation company’s stock valued at $419,000 after acquiring an additional 242 shares during the period. First Trust Direct Indexing L.P. boosted its holdings in Alaska Air Group by 4.7% in the third quarter. First Trust Direct Indexing L.P. now owns 5,938 shares of the transportation company’s stock valued at $268,000 after purchasing an additional 267 shares during the last quarter. Concurrent Investment Advisors LLC grew its position in Alaska Air Group by 3.7% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 8,770 shares of the transportation company’s stock worth $397,000 after purchasing an additional 309 shares during the period. William Blair Investment Management LLC raised its stake in shares of Alaska Air Group by 4.0% during the 1st quarter. William Blair Investment Management LLC now owns 11,470 shares of the transportation company’s stock valued at $493,000 after buying an additional 436 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Alaska Air Group by 5.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,063 shares of the transportation company’s stock worth $326,000 after buying an additional 439 shares during the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Evercore ISI cut their target price on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, October 3rd. TD Cowen cut their price target on shares of Alaska Air Group from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Bank of America raised their price target on Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Morgan Stanley reduced their price target on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Finally, Susquehanna lifted their price target on shares of Alaska Air Group from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.17.

Alaska Air Group Stock Performance

ALK opened at $47.27 on Thursday. The firm’s 50-day moving average price is $41.66 and its 200-day moving average price is $40.75. The company has a market cap of $6.00 billion, a P/E ratio of 25.28, a price-to-earnings-growth ratio of 0.66 and a beta of 1.60. Alaska Air Group has a 52-week low of $30.75 and a 52-week high of $47.46. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 0.55.

About Alaska Air Group

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.