New York State Common Retirement Fund Sells 79,211 Shares of Alaska Air Group, Inc. (NYSE:ALK)

New York State Common Retirement Fund lessened its position in Alaska Air Group, Inc. (NYSE:ALK) by 35.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 142,400 shares of the transportation company’s stock after selling 79,211 shares during the quarter. New York State Common Retirement Fund’s holdings in Alaska Air Group were worth $9,220,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Avior Wealth Management LLC raised its holdings in shares of Alaska Air Group by 44.8% in the fourth quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock valued at $38,000 after purchasing an additional 182 shares during the last quarter. Savant Capital LLC grew its position in Alaska Air Group by 3.4% in the fourth quarter. Savant Capital LLC now owns 6,284 shares of the transportation company’s stock valued at $407,000 after purchasing an additional 206 shares in the last quarter. Verdence Capital Advisors LLC increased its stake in Alaska Air Group by 2.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 10,180 shares of the transportation company’s stock valued at $460,000 after buying an additional 215 shares during the last quarter. QRG Capital Management Inc. lifted its position in Alaska Air Group by 2.7% during the 3rd quarter. QRG Capital Management Inc. now owns 9,271 shares of the transportation company’s stock worth $419,000 after buying an additional 242 shares in the last quarter. Finally, Greenleaf Trust boosted its stake in shares of Alaska Air Group by 5.1% during the 4th quarter. Greenleaf Trust now owns 5,283 shares of the transportation company’s stock worth $342,000 after buying an additional 258 shares during the last quarter. Institutional investors own 81.90% of the company’s stock.

Insider Activity

In related news, EVP Andrew R. Harrison sold 6,600 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $76.28, for a total value of $503,448.00. Following the completion of the sale, the executive vice president now directly owns 34,030 shares in the company, valued at $2,595,808.40. The trade was a 16.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Shane R. Tackett sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $63.56, for a total value of $317,800.00. Following the completion of the transaction, the chief financial officer now directly owns 27,362 shares in the company, valued at approximately $1,739,128.72. This represents a 15.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 189,198 shares of company stock valued at $13,415,604. 0.92% of the stock is owned by insiders.

Alaska Air Group Price Performance

NYSE:ALK opened at $71.42 on Wednesday. The company has a market cap of $8.79 billion, a P/E ratio of 23.42, a P/E/G ratio of 0.43 and a beta of 1.55. The firm’s fifty day moving average price is $69.60 and its two-hundred day moving average price is $54.10. Alaska Air Group, Inc. has a one year low of $32.62 and a one year high of $78.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.58.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results on Wednesday, January 22nd. The transportation company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.52. Alaska Air Group had a net margin of 3.37% and a return on equity of 14.66%. Equities analysts expect that Alaska Air Group, Inc. will post 6.03 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ALK shares. Citigroup lifted their target price on Alaska Air Group from $63.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, December 16th. TD Cowen boosted their price target on Alaska Air Group from $85.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Susquehanna upgraded Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 price objective on the stock in a research note on Tuesday, January 7th. JPMorgan Chase & Co. raised their target price on shares of Alaska Air Group from $58.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Finally, Bank of America upped their price target on shares of Alaska Air Group from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Alaska Air Group has an average rating of “Moderate Buy” and a consensus price target of $76.69.

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.