Candlestick Capital Management LP Invests $51.31 Million in Alaska Air Group, Inc. (NYSE:ALK)

Candlestick Capital Management LP bought a new stake in Alaska Air Group, Inc. (NYSE:ALK - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 792,364 shares of the transportation company's stock, valued at approximately $51,306,000. Alaska Air Group makes up approximately 1.2% of Candlestick Capital Management LP's investment portfolio, making the stock its 23rd biggest position. Candlestick Capital Management LP owned 0.62% of Alaska Air Group at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Avior Wealth Management LLC boosted its stake in Alaska Air Group by 44.8% in the 4th quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company's stock valued at $38,000 after buying an additional 182 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Alaska Air Group in the 4th quarter valued at $52,000. EverSource Wealth Advisors LLC increased its position in shares of Alaska Air Group by 61.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company's stock worth $62,000 after purchasing an additional 364 shares in the last quarter. Millstone Evans Group LLC bought a new position in Alaska Air Group during the 4th quarter valued at about $76,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Alaska Air Group in the third quarter valued at about $59,000. Institutional investors and hedge funds own 81.90% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on ALK shares. JPMorgan Chase & Co. boosted their target price on Alaska Air Group from $85.00 to $89.00 and gave the stock an "overweight" rating in a report on Monday, March 3rd. UBS Group downgraded shares of Alaska Air Group from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $75.00 to $54.00 in a research report on Monday, April 7th. TD Cowen upped their target price on shares of Alaska Air Group from $54.00 to $62.00 and gave the stock a "buy" rating in a research report on Friday, April 25th. Susquehanna reduced their price objective on Alaska Air Group from $95.00 to $55.00 and set a "positive" rating on the stock in a report on Monday, April 7th. Finally, Bank of America lowered their target price on Alaska Air Group from $80.00 to $70.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $65.92.

Alaska Air Group Stock Up 5.7 %

ALK traded up $2.53 during trading hours on Friday, hitting $46.93. 3,947,270 shares of the company's stock were exchanged, compared to its average volume of 2,679,201. The stock has a market cap of $5.76 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 0.43 and a beta of 1.37. Alaska Air Group, Inc. has a 1-year low of $32.62 and a 1-year high of $78.08. The stock's 50-day moving average is $51.73 and its two-hundred day moving average is $57.84. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.04.

Alaska Air Group (NYSE:ALK - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The transportation company reported ($0.77) EPS for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.05). The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.19 billion. Alaska Air Group had a return on equity of 14.66% and a net margin of 3.37%. The company's quarterly revenue was up 40.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.92) earnings per share. Sell-side analysts predict that Alaska Air Group, Inc. will post 6.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Muehlen Constance E. Von sold 22,157 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $75.12, for a total value of $1,664,433.84. Following the completion of the sale, the chief operating officer now directly owns 20,026 shares of the company's stock, valued at $1,504,353.12. This trade represents a 52.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Andrew R. Harrison sold 6,600 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $76.28, for a total transaction of $503,448.00. Following the completion of the transaction, the executive vice president now owns 34,030 shares in the company, valued at approximately $2,595,808.40. This represents a 16.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,650 shares of company stock valued at $3,901,798 in the last 90 days. 1.00% of the stock is currently owned by insiders.

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.