Alaska Air Group, Inc. (NYSE:ALK) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 99.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,458 shares of the transportation company’s stock after selling 5,670,860 shares during the period. Victory Capital Management Inc.’s holdings in Alaska Air Group were worth $1,029,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bordeaux Wealth Advisors LLC acquired a new position in Alaska Air Group during the second quarter valued at $693,000. TD Asset Management Inc acquired a new stake in Alaska Air Group in the 2nd quarter worth approximately $1,454,000. Mesirow Institutional Investment Management Inc. acquired a new position in Alaska Air Group during the second quarter valued at approximately $11,475,000. Versor Investments LP acquired a new position in Alaska Air Group in the 2nd quarter valued at $574,000. Finally, Natixis Advisors LLC bought a new position in shares of Alaska Air Group in the second quarter worth about $501,000. 81.90% of the stock is owned by institutional investors and hedge funds.

Alaska Air Group Trading Up 1.2 %

Shares of Alaska Air Group stock opened at $40.02 on Friday. Alaska Air Group, Inc. has a 52-week low of $30.75 and a 52-week high of $46.15. The firm has a market capitalization of $5.08 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 0.60 and a beta of 1.59. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.66. The company’s fifty day moving average price is $37.10 and its two-hundred day moving average price is $39.86.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, July 18th. The transportation company reported $2.55 earnings per share 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 business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the previous year, the business earned $3.00 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. On average, analysts expect that Alaska Air Group, Inc. will post 4.17 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on ALK shares. Bank of America raised their target price on Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, September 13th. Citigroup lowered their price objective on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Susquehanna dropped their target price on shares of Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 16th. TD Cowen increased their price target on shares of Alaska Air Group from $51.00 to $52.00 and gave the company a “buy” rating in a report on Friday, September 13th. Finally, Morgan Stanley decreased 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 research report on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.