Wealthfront Advisers LLC Purchases Shares of 91,802 Alaska Air Group, Inc. (NYSE:ALK)

Wealthfront Advisers LLC purchased a new stake in Alaska Air Group, Inc. (NYSE:ALK) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 91,802 shares of the transportation company’s stock, valued at approximately $5,944,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Amundi increased its position in Alaska Air Group by 188.3% in the 4th quarter. Amundi now owns 65,070 shares of the transportation company’s stock valued at $4,313,000 after acquiring an additional 42,501 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Alaska Air Group by 9.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 12,850 shares of the transportation company’s stock valued at $832,000 after purchasing an additional 1,098 shares during the last quarter. Jackson Creek Investment Advisors LLC bought a new stake in shares of Alaska Air Group in the 4th quarter valued at $2,128,000. Raymond James Financial Inc. bought a new stake in shares of Alaska Air Group in the 4th quarter valued at $24,241,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of Alaska Air Group in the 4th quarter valued at $4,675,000. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALK has been the topic of a number of analyst reports. Morgan Stanley upped their price objective on shares of Alaska Air Group from $70.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Bank of America upped their price objective on shares of Alaska Air Group from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Citigroup upped their price objective on shares of Alaska Air Group from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, December 16th. JPMorgan Chase & Co. upped their price objective on shares of Alaska Air Group from $85.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, March 3rd. Finally, Barclays increased their target price on shares of Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.00.

Alaska Air Group Stock Down 0.6 %

Shares of NYSE ALK opened at $53.33 on Thursday. Alaska Air Group, Inc. has a 12-month low of $32.62 and a 12-month high of $78.08. The firm has a market cap of $6.56 billion, a PE ratio of 17.48, a P/E/G ratio of 0.43 and a beta of 1.50. The company’s fifty day simple moving average is $69.17 and its 200 day simple moving average is $56.18. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.04.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.52. Alaska Air Group had a net margin of 3.37% and a return on equity of 14.66%. As a group, sell-side analysts forecast that Alaska Air Group, Inc. will post 6.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Alaska Air Group

In other Alaska Air Group news, VP Emily Halverson sold 1,329 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $64.41, for a total value of $85,600.89. Following the transaction, the vice president now directly owns 7,150 shares of the company’s stock, valued at approximately $460,531.50. This trade represents a 15.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew R. Harrison sold 91,745 shares of the firm’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $71.14, for a total transaction of $6,526,739.30. Following the completion of the transaction, the executive vice president now directly owns 20,638 shares in the company, valued at $1,468,187.32. This trade represents a 81.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 166,618 shares of company stock valued at $11,974,395. Corporate insiders own 0.68% of the company’s stock.

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.