Concurrent Investment Advisors LLC Buys 309 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Concurrent Investment Advisors LLC raised its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 3.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,770 shares of the transportation company’s stock after acquiring an additional 309 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Alaska Air Group were worth $397,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in Alaska Air Group in the first quarter valued at about $499,000. Janney Montgomery Scott LLC increased its stake in Alaska Air Group by 3.2% in the first quarter. Janney Montgomery Scott LLC now owns 17,780 shares of the transportation company’s stock valued at $764,000 after acquiring an additional 559 shares during the period. Oppenheimer & Co. Inc. increased its stake in Alaska Air Group by 31.7% in the first quarter. Oppenheimer & Co. Inc. now owns 42,133 shares of the transportation company’s stock valued at $1,811,000 after acquiring an additional 10,137 shares during the period. Swiss National Bank increased its stake in 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 acquiring an additional 500 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Alaska Air Group in the first quarter valued at about $1,208,000. Institutional investors own 81.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ALK. Melius Research upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Monday, October 28th. Susquehanna boosted their price target on shares of Alaska Air Group from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Morgan Stanley reduced 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 report on Monday, July 22nd. Bank of America boosted their price target 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. Finally, Melius upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Monday, October 28th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.17.

Alaska Air Group Price Performance

Shares of ALK stock opened at $51.00 on Monday. The firm’s 50 day moving average is $43.61 and its 200-day moving average is $41.02. Alaska Air Group, Inc. has a 1 year low of $32.00 and a 1 year high of $52.15. The firm has a market capitalization of $6.43 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 1.17 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.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, beating 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 period in the prior year, the business posted $1.83 earnings per share. Alaska Air Group’s revenue was up 8.2% compared to the same quarter last year. Sell-side analysts forecast that Alaska Air Group, Inc. will post 4.26 EPS for the current fiscal 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.