Dorsey & Whitney Trust CO LLC Cuts Stock Holdings in Alaska Air Group, Inc. (NYSE:ALK)

Dorsey & Whitney Trust CO LLC reduced its position in Alaska Air Group, Inc. (NYSE:ALK) by 8.0% in the second quarter, Holdings Channel.com reports. The fund owned 13,476 shares of the transportation company’s stock after selling 1,176 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Alaska Air Group were worth $544,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ALK. Choreo LLC purchased a new position in shares of Alaska Air Group in the second quarter worth $281,000. Ellis Investment Partners LLC lifted its stake in Alaska Air Group by 12.3% during the 2nd quarter. Ellis Investment Partners LLC now owns 44,308 shares of the transportation company’s stock valued at $1,790,000 after acquiring an additional 4,860 shares during the period. Bordeaux Wealth Advisors LLC purchased a new stake in shares of Alaska Air Group during the 2nd quarter valued at about $693,000. TD Asset Management Inc bought a new stake in shares of Alaska Air Group in the second quarter worth approximately $1,454,000. Finally, Mesirow Institutional Investment Management Inc. purchased a new position in shares of Alaska Air Group during the second quarter valued at approximately $11,475,000. 81.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on ALK. Morgan Stanley cut their target price on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. 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. Citigroup dropped their target price on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Susquehanna reduced their price target on shares of Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday, July 16th. Finally, TD Cowen dropped their price objective on shares of Alaska Air Group from $58.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Alaska Air Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Alaska Air Group Price Performance

NYSE ALK opened at $39.50 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55. Alaska Air Group, Inc. has a 12 month low of $30.75 and a 12 month high of $46.15. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 0.70 and a beta of 1.59. The company’s 50 day moving average is $36.82 and its two-hundred day moving average is $39.76.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, July 18th. The transportation company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.36 by $0.19. Alaska Air Group had a net margin of 2.14% and a return on equity of 11.85%. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period last year, the firm earned $3.00 EPS. The company’s revenue was up 2.1% on a year-over-year basis. As a group, research analysts anticipate that Alaska Air Group, Inc. will post 4.06 earnings per share for the current 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.