Alaska Air Group, Inc. (NYSE:ALK) CFO Shane R. Tackett Sells 5,000 Shares

Key Points

• Alaska Air Group CFO Shane R. Tackett sold 5,000 shares at an average price of $57.06, reducing his ownership by 10.34% to 43,335 shares valued at approximately $2.47 million.
• The company's quarterly earnings surpassed expectations with $1.78 EPS compared to analyst estimates of $1.56, while revenue rose 27.9% year-over-year to $3.70 billion.
• Analyst ratings for Alaska Air suggest a consensus target price of $67.83, with several firms upgrading their price targets from $54 to $62, indicating a strong outlook for the stock.

Alaska Air Group, Inc. (NYSE:ALK - Get Free Report) CFO Shane R. Tackett sold 5,000 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $57.06, for a total value of $285,300.00. Following the transaction, the chief financial officer directly owned 43,335 shares of the company's stock, valued at approximately $2,472,695.10. This trade represents a 10.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Alaska Air Group Price Performance

Shares of ALK traded down $0.94 during mid-day trading on Thursday, reaching $56.82. 1,783,763 shares of the stock traded hands, compared to its average volume of 2,693,320. The firm has a fifty day moving average price of $51.41 and a 200 day moving average price of $54.66. The company has a market cap of $6.55 billion, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 0.56 and a beta of 1.45. The company has a current ratio of 0.52, a quick ratio of 0.49 and a debt-to-equity ratio of 1.14. Alaska Air Group, Inc. has a 1 year low of $34.44 and a 1 year high of $78.08.

Alaska Air Group (NYSE:ALK - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $1.78 EPS for the quarter, beating analysts' consensus estimates of $1.56 by $0.22. The firm had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.65 billion. Alaska Air Group had a net margin of 2.33% and a return on equity of 12.62%. The business's revenue for the quarter was up 27.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.55 EPS. As a group, equities research analysts predict that Alaska Air Group, Inc. will post 6.03 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Brooklyn Investment Group lifted its holdings in shares of Alaska Air Group by 41.1% during the 1st quarter. Brooklyn Investment Group now owns 632 shares of the transportation company's stock worth $31,000 after acquiring an additional 184 shares during the last quarter. MAI Capital Management lifted its holdings in shares of Alaska Air Group by 80.5% during the 2nd quarter. MAI Capital Management now owns 628 shares of the transportation company's stock worth $31,000 after acquiring an additional 280 shares during the last quarter. Perkins Coie Trust Co lifted its holdings in shares of Alaska Air Group by 125.7% during the 1st quarter. Perkins Coie Trust Co now owns 677 shares of the transportation company's stock worth $33,000 after acquiring an additional 377 shares during the last quarter. Wood Tarver Financial Group LLC bought a new stake in shares of Alaska Air Group during the 4th quarter worth $38,000. Finally, UMB Bank n.a. lifted its holdings in shares of Alaska Air Group by 459.1% during the 1st quarter. UMB Bank n.a. now owns 1,297 shares of the transportation company's stock worth $64,000 after acquiring an additional 1,065 shares during the last quarter. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. TD Cowen increased their price objective on Alaska Air Group from $54.00 to $62.00 and gave the company a "buy" rating in a report on Friday, April 25th. Barclays boosted their target price on shares of Alaska Air Group from $55.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Susquehanna boosted their target price on shares of Alaska Air Group from $50.00 to $60.00 and gave the company a "positive" rating in a report on Tuesday, August 5th. Finally, UBS Group boosted their target price on shares of Alaska Air Group from $49.00 to $56.00 and gave the company a "neutral" rating in a report on Friday, July 25th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Alaska Air Group has an average rating of "Moderate Buy" and a consensus target price of $67.83.

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.

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