Neo Ivy Capital Management Makes New $359,000 Investment in Alaska Air Group, Inc. (NYSE:ALK)

Neo Ivy Capital Management acquired 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 Securities & Exchange Commission. The firm acquired 5,556 shares of the transportation company's stock, valued at approximately $359,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Castleark Management LLC bought a new position in Alaska Air Group in the fourth quarter valued at about $4,961,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Alaska Air Group by 12.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 187,305 shares of the transportation company's stock valued at $12,128,000 after acquiring an additional 21,326 shares during the last quarter. Voloridge Investment Management LLC boosted its holdings in Alaska Air Group by 22.1% in the fourth quarter. Voloridge Investment Management LLC now owns 973,956 shares of the transportation company's stock valued at $63,064,000 after acquiring an additional 176,576 shares during the last quarter. Vident Advisory LLC boosted its holdings in Alaska Air Group by 10.7% in the fourth quarter. Vident Advisory LLC now owns 5,817 shares of the transportation company's stock valued at $377,000 after acquiring an additional 562 shares during the last quarter. Finally, Semper Augustus Investments Group LLC boosted its holdings in Alaska Air Group by 0.6% in the fourth quarter. Semper Augustus Investments Group LLC now owns 350,075 shares of the transportation company's stock valued at $22,667,000 after acquiring an additional 2,211 shares during the last quarter. 81.90% of the stock is owned by institutional investors.

Insider Activity at Alaska Air Group

In related news, EVP Andrew R. Harrison sold 7,500 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $53.51, for a total transaction of $401,325.00. Following the transaction, the executive vice president now directly owns 26,530 shares in the company, valued at $1,419,620.30. This trade represents a 22.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Susquehanna reduced their target price 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. Barclays reduced their target price on Alaska Air Group from $62.00 to $55.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Citigroup reduced their target price on Alaska Air Group from $83.00 to $81.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. Bank of America dropped their price target 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. Finally, TD Cowen lifted their target price on Alaska Air Group from $54.00 to $62.00 and gave the company a "buy" rating in a research report on Friday, April 25th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $66.83.

Alaska Air Group Stock Performance

NYSE:ALK traded up $1.72 during trading on Tuesday, reaching $52.43. The company's stock had a trading volume of 3,329,833 shares, compared to its average volume of 2,789,935. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.61. The firm has a market cap of $6.44 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 0.43 and a beta of 1.41. Alaska Air Group, Inc. has a 12 month low of $32.62 and a 12 month high of $78.08. The firm has a 50 day moving average of $48.46 and a 200-day moving average of $58.49.

Alaska Air Group (NYSE:ALK - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The transportation company reported ($0.77) EPS for the quarter, missing the consensus estimate 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 company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the prior year, the business earned ($0.92) EPS. The firm's revenue for the quarter was up 40.5% compared to the same quarter last year. Research analysts expect that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

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.