Alaska Air Group, Inc. (NYSE:ALK) Shares Sold by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp reduced its stake in Alaska Air Group by 87.1% in Q1, selling 171,908 shares, leaving it with a total of 25,354 shares valued at approximately $1.25 million.
• Several hedge funds have increased their holdings in Alaska Air Group, with UMB Bank n.a. raising its position by 459.1% during the first quarter.
• Alaska Air Group reported $1.78 earnings per share for the last quarter, exceeding estimates, and anticipates a total earnings per share of 6.03 for the current fiscal year.

Mackenzie Financial Corp trimmed its stake in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 87.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,354 shares of the transportation company's stock after selling 171,908 shares during the quarter. Mackenzie Financial Corp's holdings in Alaska Air Group were worth $1,248,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Wood Tarver Financial Group LLC acquired a new position in Alaska Air Group during the fourth quarter valued at $38,000. Perkins Coie Trust Co raised its position in Alaska Air Group by 125.7% during the first 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. UMB Bank n.a. raised its position in Alaska Air Group by 459.1% during the first quarter. UMB Bank n.a. now owns 1,297 shares of the transportation company's stock valued at $64,000 after buying an additional 1,065 shares during the period. KBC Group NV acquired a new position in Alaska Air Group during the first quarter valued at $76,000. Finally, Garde Capital Inc. acquired a new position in Alaska Air Group during the fourth quarter valued at $101,000. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related 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 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 approximately $423,709.02. The trade was a 26.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew R. Harrison sold 7,600 shares of the business's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $53.22, for a total value of $404,472.00. Following the transaction, the executive vice president directly owned 18,930 shares of the company's stock, valued at $1,007,454.60. This represents a 28.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,079 shares of company stock valued at $958,700. 0.92% of the stock is currently owned by corporate insiders.

Alaska Air Group Stock Performance

ALK opened at $52.55 on Tuesday. The company has a market cap of $6.45 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 0.56 and a beta of 1.45. The stock has a 50-day moving average of $50.93 and a 200-day moving average of $55.26. Alaska Air Group, Inc. has a 52-week low of $32.62 and a 52-week high of $78.08. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.49 and a current ratio of 0.52.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Barclays upped their price target on Alaska Air Group from $55.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. UBS Group upped their price target on Alaska Air Group from $49.00 to $56.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. TD Cowen upped their price target on Alaska Air Group from $54.00 to $62.00 and gave the company a "buy" rating in a research report on Friday, April 25th. Finally, Susquehanna lowered their target price on Alaska Air Group from $95.00 to $55.00 and set a "positive" rating on the stock in a research note on Monday, April 7th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $67.42.

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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