New York State Teachers Retirement System Sells 11,671 Shares of Alaska Air Group, Inc. (NYSE:ALK)

New York State Teachers Retirement System trimmed its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 8.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 122,453 shares of the transportation company’s stock after selling 11,671 shares during the quarter. New York State Teachers Retirement System owned approximately 0.10% of Alaska Air Group worth $5,536,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. QRG Capital Management Inc. boosted its holdings in shares of Alaska Air Group by 4.7% in the 2nd quarter. QRG Capital Management Inc. now owns 9,029 shares of the transportation company’s stock worth $365,000 after acquiring an additional 406 shares in the last quarter. William Blair Investment Management LLC raised its position in Alaska Air Group by 4.0% in the 1st quarter. William Blair Investment Management LLC now owns 11,470 shares of the transportation company’s stock valued at $493,000 after purchasing an additional 436 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Alaska Air Group by 5.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,063 shares of the transportation company’s stock worth $326,000 after purchasing an additional 439 shares during the last quarter. Swiss National Bank increased its stake in shares of Alaska Air Group by 0.8% in the first quarter. Swiss National Bank now owns 63,200 shares of the transportation company’s stock valued at $2,717,000 after buying an additional 500 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Alaska Air Group by 13.0% in the second quarter. CWM LLC now owns 4,403 shares of the transportation company’s stock valued at $178,000 after buying an additional 507 shares during the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ALK. Bank of America raised their price objective on shares of Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, September 13th. TD Cowen lowered their price target on shares of Alaska Air Group from $52.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Morgan Stanley reduced their price objective on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Citigroup decreased their price objective 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, Melius upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Monday, October 28th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $54.17.

Alaska Air Group Price Performance

Shares of ALK opened at $48.58 on Wednesday. The stock has a market cap of $6.13 billion, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 0.75 and a beta of 1.59. Alaska Air Group, Inc. has a 1 year low of $32.00 and a 1 year high of $50.16. The stock’s 50-day moving average price is $42.43 and its two-hundred day moving average price is $40.86. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 0.93.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.03. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The business had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3 billion. During the same quarter last year, the firm earned $1.83 EPS. Alaska Air Group’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities analysts predict that Alaska Air Group, Inc. will post 4.31 earnings per share for the current year.

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.