Alaska Air Group, Inc. (NYSE:ALK) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its stake in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 107.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,648 shares of the transportation company's stock after acquiring an additional 13,798 shares during the period. PNC Financial Services Group Inc.'s holdings in Alaska Air Group were worth $1,312,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. New Mexico Educational Retirement Board acquired a new stake in Alaska Air Group in the 1st quarter worth about $1,235,000. Cambridge Investment Research Advisors Inc. boosted its stake in Alaska Air Group by 416.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 30,499 shares of the transportation company's stock worth $1,501,000 after buying an additional 24,592 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Alaska Air Group by 2.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,160 shares of the transportation company's stock worth $1,238,000 after buying an additional 713 shares during the last quarter. KBC Group NV acquired a new stake in Alaska Air Group in the 1st quarter worth about $76,000. Finally, Bank of New York Mellon Corp boosted its stake in Alaska Air Group by 8.9% in the 1st quarter. Bank of New York Mellon Corp now owns 971,938 shares of the transportation company's stock worth $47,839,000 after buying an additional 79,099 shares during the last quarter. Institutional investors and hedge funds own 81.90% of the company's stock.

Insider Buying and Selling

In other Alaska Air Group news, VP Emily Halverson sold 2,946 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $51.34, for a total value of $151,247.64. Following the transaction, the vice president directly owned 8,253 shares of the company's stock, valued at $423,709.02. This represents a 26.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Andrew R. Harrison sold 7,600 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $53.22, for a total value of $404,472.00. Following the completion of the transaction, the executive vice president directly owned 18,930 shares in the company, valued at approximately $1,007,454.60. The trade was a 28.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,046 shares of company stock valued at $957,045. 0.92% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. UBS Group lifted their price objective on Alaska Air Group from $49.00 to $56.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Susquehanna lifted their price objective on Alaska Air Group from $50.00 to $60.00 and gave the company a "positive" rating in a research note on Tuesday, August 5th. Barclays lifted their price objective on Alaska Air Group from $55.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, TD Cowen lifted 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. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $67.83.

Alaska Air Group Stock Up 9.9%

Alaska Air Group stock traded up $5.04 during midday trading on Tuesday, hitting $56.18. 3,270,076 shares of the company were exchanged, compared to its average volume of 2,620,540. The company's fifty day moving average price is $51.16 and its 200-day moving average price is $54.73. The company has a market cap of $6.48 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 0.50 and a beta of 1.45. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.52 and a quick ratio of 0.49. Alaska Air Group, Inc. has a fifty-two week low of $34.44 and a fifty-two week high of $78.08.

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

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.