Pallas Capital Advisors LLC Makes New Investment in Alaska Air Group, Inc. (NYSE:ALK)

Pallas Capital Advisors LLC acquired a new position in shares of Alaska Air Group, Inc. (NYSE:ALK) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,943 shares of the transportation company’s stock, valued at approximately $317,000.

Several other hedge funds also recently modified their holdings of ALK. Capital Research Global Investors acquired a new position in shares of Alaska Air Group during the 1st quarter worth approximately $36,993,000. Assenagon Asset Management S.A. grew its position in shares of Alaska Air Group by 2,087.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 762,889 shares of the transportation company’s stock valued at $34,490,000 after acquiring an additional 728,019 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Alaska Air Group by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company’s stock valued at $262,789,000 after purchasing an additional 357,907 shares during the period. Mesirow Institutional Investment Management Inc. bought a new stake in shares of Alaska Air Group in the 2nd quarter valued at about $11,475,000. Finally, Russell Investments Group Ltd. grew its holdings in Alaska Air Group by 35.0% during the first quarter. Russell Investments Group Ltd. now owns 862,376 shares of the transportation company’s stock worth $37,074,000 after purchasing an additional 223,725 shares during the period. Institutional investors own 81.90% of the company’s stock.

Alaska Air Group Stock Performance

Shares of Alaska Air Group stock opened at $47.89 on Friday. The company’s 50 day moving average price is $41.92 and its two-hundred day moving average price is $40.80. The firm has a market capitalization of $6.08 billion, a P/E ratio of 25.61, a P/E/G ratio of 0.66 and a beta of 1.60. 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 fifty-two week low of $30.75 and a fifty-two week high of $50.16.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ALK. Evercore ISI reduced their target price on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. 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. Susquehanna lifted their target price on shares of Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Citigroup decreased 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. 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 note on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $54.17.

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.