Concentric Capital Strategies LP Takes $4.94 Million Position in Alaska Air Group, Inc. (NYSE:ALK)

Concentric Capital Strategies LP bought a new stake in Alaska Air Group, Inc. (NYSE:ALK - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 76,335 shares of the transportation company's stock, valued at approximately $4,943,000. Concentric Capital Strategies LP owned 0.06% of Alaska Air Group as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Friedenthal Financial bought a new position in Alaska Air Group during the 4th quarter worth $772,000. Franklin Resources Inc. lifted its position in shares of Alaska Air Group by 4.1% during the 3rd quarter. Franklin Resources Inc. now owns 633,514 shares of the transportation company's stock valued at $28,312,000 after acquiring an additional 24,796 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Alaska Air Group during the 4th quarter valued at $52,000. Jones Financial Companies Lllp lifted its position in shares of Alaska Air Group by 77.8% during the 4th quarter. Jones Financial Companies Lllp now owns 5,221 shares of the transportation company's stock valued at $338,000 after acquiring an additional 2,284 shares during the period. Finally, HighTower Advisors LLC lifted its position in shares of Alaska Air Group by 20.6% during the 4th quarter. HighTower Advisors LLC now owns 12,773 shares of the transportation company's stock valued at $827,000 after acquiring an additional 2,186 shares during the period. 81.90% of the stock is owned by institutional investors.

Alaska Air Group Stock Up 3.0%

ALK stock traded up $1.56 during trading on Monday, hitting $53.59. 1,318,795 shares of the company's stock were exchanged, compared to its average volume of 2,725,964. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04. Alaska Air Group, Inc. has a 52-week low of $32.62 and a 52-week high of $78.08. The business has a 50-day moving average price of $49.31 and a two-hundred day moving average price of $58.19. The stock has a market capitalization of $6.58 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 0.43 and a beta of 1.41.

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

Insider Transactions at Alaska Air Group

In other news, COO Muehlen Constance E. Von sold 22,157 shares of the business's stock in a transaction 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 sale, the chief operating officer now owns 20,026 shares of the company's stock, valued at approximately $1,504,353.12. The trade was a 52.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andrew R. Harrison sold 6,600 shares of Alaska Air Group 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 transaction, the executive vice president now owns 34,030 shares in the company, valued at $2,595,808.40. The trade was a 16.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,790 shares of company stock worth $2,169,537 in the last three months. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on ALK. Barclays reduced their target price on shares of Alaska Air Group from $62.00 to $55.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. TD Cowen increased their price target on shares of Alaska Air Group from $54.00 to $62.00 and gave the stock a "buy" rating in a report on Friday, April 25th. UBS Group downgraded shares of Alaska Air Group from a "buy" rating to a "neutral" rating and lowered their target price for the company from $75.00 to $54.00 in a research note on Monday, April 7th. Susquehanna decreased their price target on shares of Alaska Air Group from $95.00 to $55.00 and set a "positive" rating on the stock in a research note on Monday, April 7th. Finally, The Goldman Sachs Group lifted their price target on shares of Alaska Air Group from $70.00 to $79.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, Alaska Air Group presently has an average rating of "Moderate Buy" and an average target price of $65.92.

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.