Alaska Air Group, Inc. (NYSE:ALK) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lowered its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 6.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,220 shares of the transportation company’s stock after selling 877 shares during the period. CIBC Asset Management Inc’s holdings in Alaska Air Group were worth $494,000 at the end of the most recent reporting period.

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

Alaska Air Group Stock Down 0.6 %

ALK opened at $37.59 on Friday. Alaska Air Group, Inc. has a one year low of $30.75 and a one year high of $46.15. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.66 and a current ratio of 0.68. The stock’s fifty day moving average is $36.84 and its 200-day moving average is $39.75. The company has a market capitalization of $4.77 billion, a PE ratio of 20.10, a P/E/G ratio of 0.67 and a beta of 1.59.

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, beating analysts’ consensus estimates of $2.36 by $0.19. The business had revenue of $2.90 billion during 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%. Alaska Air Group’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $3.00 EPS. On average, equities analysts predict that Alaska Air Group, Inc. will post 4.08 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.