Independent Advisor Alliance Takes $2.07 Million Position in Alaska Air Group, Inc. (NYSE:ALK)

Key Points

• Independent Advisor Alliance acquired 41,982 shares of Alaska Air Group, valued at approximately $2,066,000, marking a significant investment in the company.
• A total of 81.90% of Alaska Air Group's stock is currently held by hedge funds and institutional investors, indicating strong institutional interest in the company.
• Analysts have raised their price targets for Alaska Air Group, with projections ranging up to $67.83, reflecting a consensus rating of "Moderate Buy."

Independent Advisor Alliance acquired a new position in Alaska Air Group, Inc. (NYSE:ALK - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 41,982 shares of the transportation company's stock, valued at approximately $2,066,000.

Several other institutional investors also recently modified their holdings of ALK. Brighton Jones LLC boosted its position in shares of Alaska Air Group by 2,046.4% during the 4th quarter. Brighton Jones LLC now owns 96,932 shares of the transportation company's stock valued at $6,276,000 after purchasing an additional 92,416 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of Alaska Air Group by 2.3% during the 4th quarter. Cerity Partners LLC now owns 50,809 shares of the transportation company's stock worth $3,134,000 after buying an additional 1,137 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Alaska Air Group by 3.6% during the 4th quarter. Invesco Ltd. now owns 688,667 shares of the transportation company's stock worth $44,591,000 after buying an additional 24,132 shares in the last quarter. Bank of Nova Scotia acquired a new stake in shares of Alaska Air Group during the 4th quarter worth approximately $445,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Alaska Air Group during the 4th quarter worth approximately $24,241,000. Institutional investors own 81.90% of the company's stock.

Insider Transactions at Alaska Air Group

In other news, EVP Andrew R. Harrison sold 7,600 shares of the firm's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $53.22, for a total transaction of $404,472.00. Following the completion of the transaction, the executive vice president directly owned 18,930 shares in the company, valued at $1,007,454.60. This trade represents a 28.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Emily Halverson sold 2,946 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $51.34, for a total transaction of $151,247.64. Following the sale, the vice president directly owned 8,253 shares in the company, valued at $423,709.02. This trade represents a 26.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,046 shares of company stock valued at $1,242,345 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Alaska Air Group Trading Down 1.6%

Shares of NYSE ALK traded down $0.94 during trading hours on Thursday, hitting $56.82. The company's stock had a trading volume of 1,783,763 shares, compared to its average volume of 2,693,320. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.49 and a current ratio of 0.52. Alaska Air Group, Inc. has a 12 month low of $34.44 and a 12 month high of $78.08. The stock has a market cap of $6.55 billion, a price-to-earnings ratio of 23.10, a P/E/G ratio of 0.56 and a beta of 1.45. The business has a 50-day simple moving average of $51.41 and a 200-day simple moving average of $54.66.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on ALK shares. 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 research report on Friday, July 25th. Susquehanna boosted their target price on Alaska Air Group from $50.00 to $60.00 and gave the company a "positive" rating in a research report on Tuesday, August 5th. TD Cowen raised their price objective on Alaska Air Group from $54.00 to $62.00 and gave the company a "buy" rating in a research note on Friday, April 25th. Finally, Barclays upped their target price on Alaska Air Group from $55.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.83.

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.