Alaska Air Group, Inc. (NYSE:ALK) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA reduced its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,852,347 shares of the transportation company’s stock after selling 10,200 shares during the quarter. Primecap Management Co. CA’s holdings in Alaska Air Group were worth $174,165,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Altshuler Shaham Ltd acquired a new stake in Alaska Air Group during the 2nd quarter worth $28,000. Venturi Wealth Management LLC increased its stake in Alaska Air Group by 86.0% in the third quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock valued at $46,000 after purchasing an additional 474 shares during the period. Pacifica Partners Inc. increased its stake in Alaska Air Group by 952.4% in the third quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock valued at $50,000 after purchasing an additional 1,000 shares during the period. Capital Performance Advisors LLP acquired a new position in Alaska Air Group in the third quarter valued at $67,000. Finally, Canada Pension Plan Investment Board acquired a new position in Alaska Air Group in the second quarter valued at $69,000. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ALK has been the topic of a number of recent research reports. Melius upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Monday, October 28th. TD Cowen dropped their price objective on shares of Alaska Air Group from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Bank of America lifted their price objective on shares of Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Citigroup dropped their price target on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $70.00 price target on shares of Alaska Air Group in a research note on Friday, November 15th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.31.

Alaska Air Group Stock Up 0.1 %

ALK stock opened at $53.12 on Thursday. The company has a market cap of $6.74 billion, a P/E ratio of 21.42, a P/E/G ratio of 1.22 and a beta of 1.59. Alaska Air Group, Inc. has a 52 week low of $32.00 and a 52 week high of $54.01. The company’s 50-day moving average price is $45.97 and its 200 day moving average price is $41.56. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 0.93.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03. The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3 billion. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.83 earnings per share. On average, research analysts expect that Alaska Air Group, Inc. will post 4.26 earnings per share for the current fiscal year.

Alaska Air Group Company 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.