Alaska Air Group, Inc. (NYSE:ALK) Shares Sold by NFJ Investment Group LLC

NFJ Investment Group LLC reduced its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 6.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 249,472 shares of the transportation company’s stock after selling 16,990 shares during the quarter. NFJ Investment Group LLC’s holdings in Alaska Air Group were worth $11,279,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ALK. Dimensional Fund Advisors LP increased its position in Alaska Air Group by 5.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company’s stock worth $262,789,000 after buying an additional 357,907 shares in the last quarter. Point72 Asset Management L.P. raised its stake in Alaska Air Group by 8.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,969,295 shares of the transportation company’s stock valued at $119,960,000 after purchasing an additional 220,030 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Alaska Air Group by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,593,756 shares of the transportation company’s stock worth $72,054,000 after purchasing an additional 6,977 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Alaska Air Group by 8.3% during the second quarter. American Century Companies Inc. now owns 1,590,078 shares of the transportation company’s stock worth $64,239,000 after buying an additional 122,325 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Alaska Air Group by 45.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,247 shares of the transportation company’s stock worth $64,300,000 after buying an additional 442,331 shares in the last quarter. 81.90% of the stock is owned by hedge funds and other institutional investors.

Alaska Air Group Stock Up 0.4 %

NYSE:ALK traded up $0.22 during mid-day trading on Tuesday, hitting $53.38. The company had a trading volume of 206,323 shares, compared to its average volume of 2,229,048. Alaska Air Group, Inc. has a 1 year low of $32.00 and a 1 year high of $54.14. The business has a fifty day simple moving average of $47.69 and a 200-day simple moving average of $41.99. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $6.78 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 1.19 and a beta of 1.60.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on ALK. Melius Research upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Monday, October 28th. Barclays raised their price objective on Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Citigroup dropped their target price on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Susquehanna raised their price target on Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, TD Cowen dropped their price objective on shares of Alaska Air Group from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alaska Air Group currently has an average rating of “Moderate Buy” and a consensus price target of $58.69.

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.