Alpha DNA Investment Management LLC Invests $472,000 in Alaska Air Group, Inc. (NYSE:ALK)

Alpha DNA Investment Management LLC acquired a new stake in Alaska Air Group, Inc. (NYSE:ALK) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 11,685 shares of the transportation company’s stock, valued at approximately $472,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ALK. Janney Montgomery Scott LLC raised its holdings in Alaska Air Group by 4.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 17,221 shares of the transportation company’s stock valued at $673,000 after buying an additional 756 shares during the period. Norges Bank acquired a new position in Alaska Air Group in the 4th quarter valued at about $13,434,000. Corient Private Wealth LLC grew its position in Alaska Air Group by 78.5% in the 4th quarter. Corient Private Wealth LLC now owns 28,566 shares of the transportation company’s stock valued at $1,116,000 after acquiring an additional 12,561 shares in the last quarter. Parallel Advisors LLC grew its position in Alaska Air Group by 28.4% in the 4th 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 in the last quarter. Finally, Stifel Financial Corp grew its position in Alaska Air Group by 61.6% in the 4th quarter. Stifel Financial Corp now owns 677,239 shares of the transportation company’s stock valued at $26,460,000 after acquiring an additional 258,210 shares in the last quarter. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

Alaska Air Group Trading Up 2.0 %

NYSE:ALK opened at $42.46 on Thursday. The stock has a fifty day moving average price of $37.27 and a two-hundred day moving average price of $40.01. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 0.54 and a beta of 1.59. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.66 and a current ratio of 0.68. 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 posted 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. 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%. Alaska Air Group’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.00 earnings per share. As a group, sell-side analysts anticipate that Alaska Air Group, Inc. will post 4.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on ALK shares. Susquehanna dropped their target price on 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. 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. 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 report on Thursday, August 29th. 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. Finally, Morgan Stanley lowered their price objective on 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. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

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.