Concurrent Investment Advisors LLC Trims Stake in Alaska Air Group, Inc. (NYSE:ALK)

Concurrent Investment Advisors LLC decreased its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 7.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,461 shares of the transportation company’s stock after selling 684 shares during the period. Concurrent Investment Advisors LLC’s holdings in Alaska Air Group were worth $342,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Sage Rhino Capital LLC acquired a new stake in shares of Alaska Air Group during the second quarter worth $232,000. Moloney Securities Asset Management LLC purchased a new position in Alaska Air Group during the second quarter worth about $250,000. Innealta Capital LLC acquired a new stake in Alaska Air Group in the 2nd quarter worth about $157,000. Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in Alaska Air Group by 0.9% in the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 104,120 shares of the transportation company’s stock valued at $4,206,000 after buying an additional 950 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Alaska Air Group by 5.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,063 shares of the transportation company’s stock valued at $326,000 after acquiring an additional 439 shares during the last quarter. 81.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Susquehanna lowered their target price on shares of Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, July 16th. Wolfe Research upgraded shares of Alaska Air Group from a “peer perform” rating to an “outperform” rating and set a $55.00 price target on the stock in a report on Friday, May 17th. Citigroup dropped their price objective on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Morgan Stanley reduced their target price on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, TD Cowen dropped their price target on Alaska Air Group from $58.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Alaska Air Group Price Performance

Shares of NYSE ALK opened at $35.92 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.66. Alaska Air Group, Inc. has a 1-year low of $30.75 and a 1-year high of $46.15. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 0.67 and a beta of 1.60. The business has a 50-day moving average of $37.05 and a 200-day moving average of $39.78.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Thursday, July 18th. The transportation company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.19. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. Alaska Air Group’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.00 EPS. On average, equities analysts anticipate that Alaska Air Group, Inc. will post 4.08 EPS for the current fiscal year.

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.