Versor Investments LP Buys Shares of 14,200 Alaska Air Group, Inc. (NYSE:ALK)

Versor Investments LP bought a new position in shares of Alaska Air Group, Inc. (NYSE:ALK) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 14,200 shares of the transportation company’s stock, valued at approximately $574,000.

Other hedge funds also recently made changes to their positions in the company. CVA Family Office LLC lifted its stake in Alaska Air Group by 17.1% in the 1st quarter. CVA Family Office LLC now owns 2,230 shares of the transportation company’s stock valued at $96,000 after purchasing an additional 325 shares during the last quarter. Parallel Advisors LLC grew its position in Alaska Air Group by 28.4% during the 4th quarter. Parallel Advisors LLC now owns 1,688 shares of the transportation company’s stock worth $66,000 after acquiring an additional 373 shares during the last quarter. Gateway Investment Advisers LLC increased its holdings in Alaska Air Group by 0.3% in the 1st quarter. Gateway Investment Advisers LLC now owns 153,403 shares of the transportation company’s stock worth $6,595,000 after purchasing an additional 391 shares in the last quarter. Private Advisor Group LLC raised its position in Alaska Air Group by 6.8% in the fourth quarter. Private Advisor Group LLC now owns 6,209 shares of the transportation company’s stock valued at $243,000 after purchasing an additional 397 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its stake in shares of Alaska Air Group by 4.7% during the second quarter. QRG Capital Management Inc. now owns 9,029 shares of the transportation company’s stock valued at $365,000 after purchasing an additional 406 shares in the last quarter. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Alaska Air Group Stock Performance

Shares of ALK opened at $35.92 on Wednesday. The firm’s fifty day simple moving average is $37.05 and its two-hundred day simple moving average is $39.78. Alaska Air Group, Inc. has a 12 month low of $30.75 and a 12 month high of $46.15. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $4.56 billion, a P/E ratio of 19.21, a price-to-earnings-growth ratio of 0.67 and a beta of 1.60.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, July 18th. The transportation company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.36 by $0.19. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.94 billion. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.00 EPS. As a group, analysts predict that Alaska Air Group, Inc. will post 4.08 EPS for the current 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.