Connor Clark & Lunn Investment Management Ltd. Acquires 44,417 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 275.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,529 shares of the transportation company’s stock after acquiring an additional 44,417 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Alaska Air Group were worth $3,919,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Avior Wealth Management LLC lifted its position in Alaska Air Group by 44.8% in the 4th quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock worth $38,000 after buying an additional 182 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Alaska Air Group in the 4th quarter worth approximately $52,000. EverSource Wealth Advisors LLC lifted its position in Alaska Air Group by 61.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company’s stock worth $62,000 after buying an additional 364 shares during the last quarter. Pacific Center for Financial Services bought a new stake in Alaska Air Group in the 3rd quarter worth approximately $45,000. Finally, True Wealth Design LLC bought a new stake in Alaska Air Group in the 3rd quarter worth approximately $52,000. Institutional investors own 81.90% of the company’s stock.

Alaska Air Group Price Performance

ALK opened at $53.82 on Monday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.61. Alaska Air Group, Inc. has a 52-week low of $32.62 and a 52-week high of $78.08. The stock has a market capitalization of $6.62 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 0.43 and a beta of 1.50. The stock’s 50 day moving average price is $68.73 and its 200-day moving average price is $56.57.

Alaska Air Group (NYSE:ALK) last posted its earnings results on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.52. Alaska Air Group had a return on equity of 14.66% and a net margin of 3.37%. On average, equities research analysts predict that Alaska Air Group, Inc. will post 6.03 EPS for the current year.

Insider Activity at Alaska Air Group

In related news, CFO Shane R. Tackett sold 22,893 shares of Alaska Air Group stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $75.74, for a total transaction of $1,733,915.82. Following the sale, the chief financial officer now directly owns 31,873 shares in the company, valued at $2,414,061.02. The trade was a 41.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Andrea L. Schneider sold 800 shares of Alaska Air Group stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $63.89, for a total value of $51,112.00. Following the sale, the senior vice president now owns 20,286 shares in the company, valued at $1,296,072.54. This represents a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 162,618 shares of company stock worth $11,722,035 over the last ninety days. 0.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ALK shares. Citigroup boosted their target price on Alaska Air Group from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. The Goldman Sachs Group boosted their target price on Alaska Air Group from $70.00 to $79.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. TD Cowen lifted their price target on Alaska Air Group from $85.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. UBS Group lifted their price target on Alaska Air Group from $81.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lifted their price target on Alaska Air Group from $85.00 to $89.00 and gave the stock an “overweight” rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $77.00.

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.