Alaska Air Group, Inc. (NYSE:ALK) Shares Sold by US Bancorp DE

US Bancorp DE reduced its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 2.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,160 shares of the transportation company’s stock after selling 643 shares during the quarter. US Bancorp DE’s holdings in Alaska Air Group were worth $957,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ALK. Altshuler Shaham Ltd purchased a new position in Alaska Air Group in the 2nd quarter valued at approximately $28,000. Pacifica Partners Inc. increased its stake in Alaska Air Group by 952.4% in the 3rd quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock valued at $50,000 after purchasing an additional 1,000 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Alaska Air Group in the 2nd quarter valued at approximately $69,000. Halpern Financial Inc. purchased a new position in Alaska Air Group in the 2nd quarter valued at approximately $81,000. Finally, GAMMA Investing LLC increased its stake in Alaska Air Group by 31.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,602 shares of the transportation company’s stock valued at $105,000 after purchasing an additional 626 shares in the last quarter. 81.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALK has been the subject of several recent research reports. Melius Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Monday, October 28th. Morgan Stanley dropped their price target 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. Susquehanna raised their price target on Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Barclays started coverage on Alaska Air Group in a research report on Monday, October 21st. They issued an “overweight” rating and a $55.00 price objective for the company. Finally, TD Cowen lowered their price objective on Alaska Air Group from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $54.17.

Alaska Air Group Price Performance

Shares of Alaska Air Group stock opened at $51.00 on Friday. Alaska Air Group, Inc. has a twelve month low of $32.00 and a twelve month high of $52.15. The stock has a market capitalization of $6.43 billion, a P/E ratio of 20.56, a PEG ratio of 0.77 and a beta of 1.59. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 0.93. The business’s fifty day moving average price is $43.61 and its 200 day moving average price is $41.07.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03. The company had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.83 earnings per share. As a group, research analysts anticipate that Alaska Air Group, Inc. will post 4.26 earnings per share for the current year.

Alaska Air Group 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.