Public Sector Pension Investment Board Acquires 20,751 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Public Sector Pension Investment Board boosted its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 8.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 279,201 shares of the transportation company’s stock after purchasing an additional 20,751 shares during the quarter. Public Sector Pension Investment Board owned about 0.22% of Alaska Air Group worth $11,280,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new stake in Alaska Air Group in the second quarter valued at approximately $28,000. Principal Securities Inc. acquired a new stake in Alaska Air Group in the fourth quarter valued at approximately $39,000. LifeSteps Financial Inc. acquired a new stake in Alaska Air Group in the first quarter valued at approximately $65,000. Parallel Advisors LLC grew its stake in Alaska Air Group by 28.4% in the fourth quarter. Parallel Advisors LLC now owns 1,688 shares of the transportation company’s stock valued at $66,000 after acquiring an additional 373 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in Alaska Air Group in the second quarter valued at approximately $69,000. 81.90% of the stock is currently owned by institutional investors.

Alaska Air Group Stock Performance

Shares of ALK opened at $41.69 on Tuesday. The firm has a market cap of $5.29 billion, a PE ratio of 22.29, a PEG ratio of 0.60 and a beta of 1.59. The stock’s fifty day moving average price is $37.20 and its two-hundred day moving average price is $39.95. 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.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, July 18th. The transportation company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.19. The firm 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 business’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.00 earnings per share. On average, equities research analysts forecast that Alaska Air Group, Inc. will post 4.17 EPS for the current year.

Wall Street Analyst Weigh In

ALK has been the topic of several analyst reports. Morgan Stanley cut their target price on 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. Susquehanna cut their target price on 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. Citigroup cut 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. TD Cowen lifted their target price on Alaska Air Group from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Finally, Bank of America boosted their price objective on Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Alaska Air Group presently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

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.