57,180 Alaska Air Group, Inc. $ALK Shares Bought by Privium Fund Management UK Ltd

Key Points

• Privium Fund Management UK increased its Alaska Air Group stake by 10.9%, adding 57,180 shares in the third quarter to hold 580,865 shares worth about $23.2 million. ALK represents 11.6% of the fund’s portfolio and is its third-largest holding.
• Institutional ownership stands at 81.9%, while CEO Benito Minicucci also bought 25,000 shares for approximately $1 million.
• Analysts’ consensus is “Moderate Buy,” with an average price target of $52.38. Alaska Air reported quarterly EPS of $0.36, below the $0.39 estimate, while revenue of $4.31 billion matched expectations and rose 14.4% year over year.

Privium Fund Management UK Ltd increased its position in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 10.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 580,865 shares of the transportation company's stock after acquiring an additional 57,180 shares during the period. Alaska Air Group comprises approximately 11.6% of Privium Fund Management UK Ltd's holdings, making the stock its 3rd largest position. Privium Fund Management UK Ltd owned approximately 0.52% of Alaska Air Group worth $23,194,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Alaska Air Group in the 2nd quarter worth $606,307,000. Primecap Management Co. CA bought a new position in shares of Alaska Air Group during the second quarter valued at $168,467,000. Bank of New York Mellon Corp bought a new position in shares of Alaska Air Group during the second quarter valued at $34,776,000. Bank of America Corp DE purchased a new stake in shares of Alaska Air Group during the second quarter valued at $32,751,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of Alaska Air Group by 1,065.1% during the third quarter. Assenagon Asset Management S.A. now owns 314,093 shares of the transportation company's stock valued at $12,155,000 after buying an additional 287,134 shares during the last quarter. 81.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Alaska Air Group news, CEO Benito Minicucci acquired 25,000 shares of the business's stock in a transaction dated Thursday, August 20th. The stock was purchased at an average price of $40.06 per share, with a total value of $1,001,500.00. Following the transaction, the chief executive officer directly owned 256,582 shares in the company, valued at approximately $10,278,674.92. The trade was a 10.80% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

ALK has been the subject of several research analyst reports. Raymond James Financial reiterated an "outperform" rating on shares of Alaska Air Group in a report on Friday, September 25th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $52.00 price target on shares of Alaska Air Group in a report on Thursday, October 22nd. Weiss Ratings downgraded shares of Alaska Air Group from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, August 18th. Zacks Research lowered shares of Alaska Air Group from a "hold" rating to a "strong sell" rating in a research note on Wednesday, October 21st. Finally, BMO Capital Markets reissued an "outperform" rating and set a $42.00 price objective (down from $50.00) on shares of Alaska Air Group in a report on Thursday, October 22nd. Ten analysts have rated the stock with a Buy rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Alaska Air Group has a consensus rating of "Moderate Buy" and an average target price of $52.38.

Alaska Air Group Price Performance

NYSE ALK opened at $39.97 on Thursday. Alaska Air Group, Inc. has a 52 week low of $32.33 and a 52 week high of $60.63. The firm has a market capitalization of $4.45 billion, a P/E ratio of -11.39 and a beta of 1.43. The company has a quick ratio of 0.42, a current ratio of 0.46 and a debt-to-equity ratio of 1.49. The company has a 50-day moving average price of $38.92 and a 200-day moving average price of $43.97.

Alaska Air Group (NYSE:ALK - Get Free Report) last posted its quarterly earnings data on Tuesday, October 20th. The transportation company reported $0.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.03). The business had revenue of $4.31 billion during the quarter, compared to analysts' expectations of $4.31 billion. Alaska Air Group had a negative return on equity of 5.42% and a negative net margin of 2.58%. The business's quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.05 EPS. Equities research analysts anticipate that Alaska Air Group, Inc. will post -4.19 earnings per share for the current year.

Alaska Air Group Company Profile

Alaska Air Group, Inc is an airline holding company headquartered in Seattle, Washington. Its principal subsidiaries include Alaska Airlines and Hawaiian Airlines, which operate under separate brands while serving passengers throughout North America, the Pacific and other international markets.

Alaska Airlines provides scheduled passenger and air cargo services across the United States, Canada, Mexico, Costa Rica and the Bahamas, with a strong presence on the U.S. West Coast and in Alaska.

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