Clearbridge Investments LLC Sells 13,640 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Clearbridge Investments LLC trimmed its stake in Alaska Air Group, Inc. (NYSE:ALK) by 1.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,049,739 shares of the transportation company’s stock after selling 13,640 shares during the quarter. Clearbridge Investments LLC’s holdings in Alaska Air Group were worth $42,409,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Altshuler Shaham Ltd bought a new position in shares of Alaska Air Group in the second quarter valued at $28,000. LifeSteps Financial Inc. acquired a new stake in Alaska Air Group in the first quarter valued at $65,000. Parallel Advisors LLC grew its position in shares of 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 during the period. Canada Pension Plan Investment Board bought a new position in shares of Alaska Air Group in the 2nd quarter valued at about $69,000. Finally, Halpern Financial Inc. acquired a new position in shares of Alaska Air Group during the 2nd quarter worth about $81,000. Institutional investors and hedge funds own 81.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. TD Cowen reduced their price target on Alaska Air Group from $52.00 to $50.00 and set a “buy” rating for the company in a report on Thursday. Citigroup reduced their target price on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Susquehanna decreased their target price on Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. Evercore ISI cut their price target on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Bank of America upped their price objective on shares of Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, September 13th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $52.91.

Alaska Air Group Price Performance

NYSE:ALK opened at $42.66 on Friday. Alaska Air Group, Inc. has a 52 week low of $30.75 and a 52 week 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 firm’s 50-day simple moving average is $37.95 and its 200 day simple moving average is $40.23. The firm has a market cap of $5.41 billion, a price-to-earnings ratio of 22.81, a P/E/G ratio of 0.54 and a beta of 1.59.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, July 18th. The transportation company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.36 by $0.19. The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Alaska Air Group had a net margin of 2.14% and a return on equity of 11.85%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $3.00 earnings per share. As a group, sell-side analysts predict that Alaska Air Group, Inc. will post 4.62 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.