Alaska Air Group, Inc. (NYSE:ALK) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its stake in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 79.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 11,349 shares of the transportation company's stock after selling 43,524 shares during the period. Illinois Municipal Retirement Fund's holdings in Alaska Air Group were worth $559,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Maryland State Retirement & Pension System raised its position in Alaska Air Group by 0.3% during the fourth quarter. Maryland State Retirement & Pension System now owns 49,905 shares of the transportation company's stock worth $3,231,000 after acquiring an additional 147 shares during the period. Mutual of America Capital Management LLC raised its position in Alaska Air Group by 1.3% during the fourth quarter. Mutual of America Capital Management LLC now owns 19,229 shares of the transportation company's stock worth $1,245,000 after acquiring an additional 254 shares during the period. Sequoia Financial Advisors LLC raised its position in Alaska Air Group by 6.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 5,381 shares of the transportation company's stock worth $348,000 after acquiring an additional 332 shares during the period. Treasurer of the State of North Carolina raised its position in Alaska Air Group by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 55,170 shares of the transportation company's stock worth $3,572,000 after acquiring an additional 340 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Alaska Air Group by 61.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company's stock worth $62,000 after acquiring an additional 364 shares during the period. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Alaska Air Group Trading Up 0.3%

Shares of ALK opened at $51.01 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.52 and a debt-to-equity ratio of 1.05. 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 price of $49.77 and a 200 day moving average price of $57.45. The firm has a market capitalization of $6.26 billion, a P/E ratio of 18.55, a P/E/G ratio of 0.53 and a beta of 1.41.

Alaska Air Group (NYSE:ALK - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The transportation company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.05). Alaska Air Group had a net margin of 2.86% and a return on equity of 15.01%. The firm had revenue of $3.14 billion during the quarter, compared to analysts' expectations of $3.19 billion. During the same period in the prior year, the company posted ($0.92) EPS. The company's revenue for the quarter was up 40.5% compared to the same quarter last year. Sell-side analysts forecast that Alaska Air Group, Inc. will post 6.03 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on ALK. Citigroup reduced their price objective on shares of Alaska Air Group from $83.00 to $81.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Susquehanna dropped 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 report on Monday, April 7th. UBS Group lowered shares of Alaska Air Group from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $75.00 to $54.00 in a report on Monday, April 7th. Bank of America dropped their target price on shares of Alaska Air Group from $80.00 to $70.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Finally, Barclays dropped their target price on shares of Alaska Air Group from $62.00 to $55.00 and set an "overweight" rating for the company in a report on Friday, April 25th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Alaska Air Group presently has an average rating of "Moderate Buy" and a consensus price target of $66.83.

Insider Activity

In other Alaska Air Group news, VP Emily Halverson sold 2,946 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $51.34, for a total transaction of $151,247.64. Following the completion of the transaction, the vice president owned 8,253 shares of the company's stock, valued at $423,709.02. This trade represents a 26.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Andrew R. Harrison sold 7,500 shares of the stock in a transaction dated 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 directly owned 26,530 shares of the company's stock, valued at approximately $1,419,620.30. This trade represents a 22.04% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,479 shares of company stock valued at $554,228. 1.00% of the stock is currently owned by insiders.

Alaska Air Group 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.

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