Hennessy Advisors Inc. Reduces Stake in Alaska Air Group, Inc. (NYSE:ALK)

Hennessy Advisors Inc. trimmed its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 8.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,160,100 shares of the transportation company's stock after selling 113,400 shares during the period. Alaska Air Group accounts for approximately 1.9% of Hennessy Advisors Inc.'s holdings, making the stock its 4th largest holding. Hennessy Advisors Inc. owned approximately 0.95% of Alaska Air Group worth $57,100,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALK. Wood Tarver Financial Group LLC acquired a new stake in shares of Alaska Air Group in the 4th quarter valued at $38,000. Perkins Coie Trust Co increased its stake in shares of Alaska Air Group by 125.7% in the 1st quarter. Perkins Coie Trust Co now owns 677 shares of the transportation company's stock valued at $33,000 after buying an additional 377 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Alaska Air Group in the 4th quarter valued at $52,000. EverSource Wealth Advisors LLC increased its stake in shares of Alaska Air Group by 61.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company's stock valued at $62,000 after buying an additional 364 shares during the period. Finally, Millstone Evans Group LLC acquired a new stake in shares of Alaska Air Group in the 4th quarter valued at $76,000. 81.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ALK. 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 note on Friday, April 25th. Susquehanna lowered their target price on Alaska Air Group from $95.00 to $55.00 and set a "positive" rating for the company in a research note on Monday, April 7th. Bank of America lowered their target price on Alaska Air Group from $80.00 to $70.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Citigroup lowered their target price on 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, UBS Group cut Alaska Air Group from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $75.00 to $54.00 in a research note on Monday, April 7th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $66.83.

Insider Activity

In other news, VP Emily Halverson sold 2,946 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $51.34, for a total value of $151,247.64. Following the sale, the vice president now directly owns 8,253 shares in the company, valued at $423,709.02. The trade was a 26.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Andrew R. Harrison sold 7,500 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $53.51, for a total value of $401,325.00. Following the completion of the sale, the executive vice president now owns 26,530 shares in the company, valued at approximately $1,419,620.30. This trade represents a 22.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,479 shares of company stock worth $554,228 over the last three months. Corporate insiders own 1.00% of the company's stock.

Alaska Air Group Trading Down 4.5%

NYSE:ALK traded down $2.24 on Friday, reaching $47.40. The company's stock had a trading volume of 3,046,461 shares, compared to its average volume of 2,850,747. Alaska Air Group, Inc. has a 1-year low of $32.62 and a 1-year high of $78.08. 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 $5.82 billion, a PE ratio of 15.54, a PEG ratio of 0.43 and a beta of 1.44. The business's 50-day moving average price is $48.81 and its two-hundred day moving average price is $58.28.

Alaska Air Group (NYSE:ALK - Get Free Report) last issued 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 firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 40.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.92) earnings per share. Equities research analysts anticipate that Alaska Air Group, Inc. will post 6.03 earnings per share 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.