Driehaus Capital Management LLC Purchases New Position in Alaska Air Group, Inc. (NYSE:ALK)

Driehaus Capital Management LLC purchased a new stake in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 580,107 shares of the transportation company's stock, valued at approximately $37,562,000. Driehaus Capital Management LLC owned 0.46% of Alaska Air Group at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ALK. Barclays PLC boosted its stake in Alaska Air Group by 1.8% in the 3rd quarter. Barclays PLC now owns 1,058,564 shares of the transportation company's stock worth $47,857,000 after purchasing an additional 18,233 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Alaska Air Group in the third quarter worth approximately $59,000. Franklin Resources Inc. grew its holdings in shares of Alaska Air Group by 4.1% during the third quarter. Franklin Resources Inc. now owns 633,514 shares of the transportation company's stock valued at $28,312,000 after buying an additional 24,796 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Alaska Air Group by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,753 shares of the transportation company's stock valued at $1,279,000 after acquiring an additional 309 shares in the last quarter. Finally, Friedenthal Financial purchased a new position in Alaska Air Group in the 4th quarter worth approximately $772,000. Institutional investors own 81.90% of the company's stock.

Alaska Air Group Stock Performance

ALK traded up $1.56 during trading on Monday, hitting $53.59. The company's stock had a trading volume of 3,341,006 shares, compared to its average volume of 2,733,650. The business's 50 day simple moving average is $49.31 and its 200-day simple moving average is $58.19. The firm has a market cap of $6.58 billion, a PE ratio of 17.57, a P/E/G ratio of 0.43 and a beta of 1.41. Alaska Air Group, Inc. has a one year low of $32.62 and a one year high of $78.08. 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 released its earnings results on Wednesday, April 23rd. The transportation company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.05). The company had revenue of $3.14 billion for the quarter, compared to analysts' expectations of $3.19 billion. Alaska Air Group had a net margin of 3.37% and a return on equity of 14.66%. Alaska Air Group's revenue for the quarter was up 40.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.92) earnings per share. As a group, sell-side analysts predict that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on ALK. The Goldman Sachs Group increased their target price on Alaska Air Group from $70.00 to $79.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. Bank of America dropped their price objective on Alaska Air Group from $80.00 to $70.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Citigroup decreased their target price on Alaska Air Group from $83.00 to $81.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. TD Cowen raised their price target on shares of Alaska Air Group from $54.00 to $62.00 and gave the company a "buy" rating in a report on Friday, April 25th. Finally, UBS Group lowered 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 note on Monday, April 7th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $65.92.

Insider Buying and Selling

In related news, EVP Andrew R. Harrison sold 6,600 shares of Alaska Air Group 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 transaction, the executive vice president now owns 34,030 shares in the company, valued at approximately $2,595,808.40. The trade was a 16.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Muehlen Constance E. Von sold 22,157 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were 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 directly owns 20,026 shares in the company, valued at approximately $1,504,353.12. This represents a 52.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,790 shares of company stock valued at $2,169,537. 1.00% of the stock is owned by corporate 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.