Mackenzie Financial Corp Boosts Holdings in Alaska Air Group, Inc. (NYSE:ALK)

Mackenzie Financial Corp boosted its position in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 688.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 197,262 shares of the transportation company's stock after acquiring an additional 172,236 shares during the quarter. Mackenzie Financial Corp owned 0.16% of Alaska Air Group worth $12,773,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Alaska Air Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 13,651,876 shares of the transportation company's stock worth $883,959,000 after purchasing an additional 56,409 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Alaska Air Group by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,225,054 shares of the transportation company's stock valued at $403,076,000 after buying an additional 56,740 shares during the period. FMR LLC lifted its holdings in Alaska Air Group by 328.7% in the fourth quarter. FMR LLC now owns 4,649,388 shares of the transportation company's stock valued at $301,048,000 after buying an additional 3,564,749 shares during the period. Boston Partners lifted its holdings in Alaska Air Group by 6.9% in the fourth quarter. Boston Partners now owns 3,460,959 shares of the transportation company's stock valued at $224,121,000 after buying an additional 222,780 shares during the period. Finally, Point72 Asset Management L.P. lifted its holdings in Alaska Air Group by 134.0% in the fourth quarter. Point72 Asset Management L.P. now owns 2,134,221 shares of the transportation company's stock valued at $138,191,000 after buying an additional 1,222,277 shares during the period. Institutional investors and hedge funds own 81.90% of the company's stock.

Alaska Air Group Stock Performance

Shares of ALK stock traded down $1.11 during trading on Friday, reaching $50.92. 3,024,276 shares of the company's stock traded hands, compared to its average volume of 2,809,140. The company has a market capitalization of $6.25 billion, a P/E ratio of 16.70, a PEG ratio of 0.43 and a beta of 1.41. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04. The firm's 50-day moving average is $48.32 and its 200 day moving average is $58.49. Alaska Air Group, Inc. has a 1 year low of $32.62 and a 1 year high of $78.08.

Alaska Air Group (NYSE:ALK - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The transportation company reported ($0.77) EPS for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.05). The business 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%. The business's quarterly revenue was up 40.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.92) earnings per share. Equities research analysts expect that Alaska Air Group, Inc. will post 6.03 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Andrew R. Harrison sold 7,500 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $53.51, for a total value of $401,325.00. Following the transaction, the executive vice president now owns 26,530 shares of the company's stock, valued at $1,419,620.30. This represents a 22.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.92% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on ALK. UBS Group lowered shares of Alaska Air Group from a "buy" rating to a "neutral" rating and dropped their target price for the company from $75.00 to $54.00 in a report on Monday, April 7th. TD Cowen boosted their target price 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. JPMorgan Chase & Co. boosted their target price on shares of Alaska Air Group from $85.00 to $89.00 and gave the company an "overweight" rating in a report on Monday, March 3rd. Citigroup decreased their price target on shares of Alaska Air Group from $83.00 to $81.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Finally, Susquehanna decreased their target price on shares of Alaska Air Group from $95.00 to $55.00 and set a "positive" rating for the company in a research report on Monday, April 7th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, Alaska Air Group currently has a consensus rating of "Moderate Buy" and an average price target of $66.83.

Alaska Air Group Company 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.