Connor Clark & Lunn Investment Management Ltd. Cuts Position in Alaska Air Group, Inc. (NYSE:ALK)

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 71.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,112 shares of the transportation company’s stock after selling 39,858 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Alaska Air Group were worth $728,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ALK. O Shaughnessy Asset Management LLC purchased a new position in shares of Alaska Air Group during the 1st quarter valued at approximately $280,000. Price T Rowe Associates Inc. MD lifted its holdings in Alaska Air Group by 5.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 69,382 shares of the transportation company’s stock valued at $2,983,000 after purchasing an additional 3,652 shares in the last quarter. Comerica Bank grew its position in shares of Alaska Air Group by 88.0% in the first quarter. Comerica Bank now owns 174,178 shares of the transportation company’s stock valued at $7,488,000 after purchasing an additional 81,533 shares during the period. Cetera Investment Advisers increased its stake in shares of Alaska Air Group by 211.7% during the first quarter. Cetera Investment Advisers now owns 47,770 shares of the transportation company’s stock worth $2,054,000 after purchasing an additional 32,442 shares in the last quarter. Finally, Cetera Advisors LLC acquired a new position in shares of Alaska Air Group during the 1st quarter worth about $227,000. 81.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ALK has been the subject of several research reports. UBS Group reiterated a “buy” rating and set a $72.00 price objective on shares of Alaska Air Group in a research note on Tuesday. Melius upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Monday, October 28th. Melius Research raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Monday, October 28th. TD Cowen decreased their price target on shares of Alaska Air Group from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $70.00 price objective on shares of Alaska Air Group in a research note on Friday, November 15th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $58.69.

Alaska Air Group Trading Down 0.5 %

Shares of Alaska Air Group stock opened at $52.68 on Friday. The stock has a 50 day moving average of $47.18 and a 200 day moving average of $41.88. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60. The firm has a market capitalization of $6.69 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 1.21 and a beta of 1.59. Alaska Air Group, Inc. has a fifty-two week low of $32.00 and a fifty-two week high of $54.14.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03. The business had revenue of $3.07 billion during 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 company’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.83 EPS. As a group, research analysts predict that Alaska Air Group, Inc. will post 4.26 earnings per share for the current year.

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.