Allianz Asset Management GmbH Purchases 25,969 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Key Points

• Allianz Asset Management GmbH increased its holdings in Alaska Air Group by 30.2% during the first quarter, owning approximately 111,906 shares valued at $5.5 million.
• Analysts' ratings for Alaska Air Group show a consensus of 11 buy ratings compared to one hold rating, with a target price of $67.42.
• Alaska Air Group reported $1.78 EPS for the last quarter, exceeding analyst estimates, with a 27.9% year-over-year increase in revenue.

Allianz Asset Management GmbH increased its holdings in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 30.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,906 shares of the transportation company's stock after purchasing an additional 25,969 shares during the quarter. Allianz Asset Management GmbH owned 0.09% of Alaska Air Group worth $5,508,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALK. Perkins Coie Trust Co increased its position in shares of Alaska Air Group by 125.7% in the first quarter. Perkins Coie Trust Co now owns 677 shares of the transportation company's stock worth $33,000 after acquiring an additional 377 shares in the last quarter. Wood Tarver Financial Group LLC purchased a new position in Alaska Air Group during the fourth quarter valued at approximately $38,000. UMB Bank n.a. grew 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 purchasing an additional 1,065 shares in the last quarter. KBC Group NV purchased a new position in Alaska Air Group during the first quarter valued at approximately $76,000. Finally, Fifth Third Bancorp grew its position in Alaska Air Group by 96.3% during the first quarter. Fifth Third Bancorp now owns 1,926 shares of the transportation company's stock valued at $95,000 after purchasing an additional 945 shares in the last quarter. 81.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alaska Air Group

In other Alaska Air Group news, EVP Andrew R. Harrison sold 7,600 shares of the business's stock in a transaction 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 sale, the executive vice president owned 18,930 shares of the company's stock, valued at $1,007,454.60. The trade was a 28.65% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Emily Halverson sold 2,946 shares of the 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 sale, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,079 shares of company stock valued at $958,700. Corporate insiders own 1.00% of the company's stock.

Alaska Air Group Stock Performance

Shares of Alaska Air Group stock traded down $1.52 on Friday, reaching $51.44. The stock had a trading volume of 939,997 shares, compared to its average volume of 3,243,132. The business's 50-day moving average price is $50.88 and its two-hundred day moving average price is $55.63. 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, Inc. has a fifty-two week low of $32.62 and a fifty-two week high of $78.08. The stock has a market cap of $6.31 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 0.58 and a beta of 1.41.

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

Analysts Set New Price Targets

ALK has been the topic of a number of research analyst reports. Barclays boosted their price objective on shares of Alaska Air Group from $55.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Susquehanna lowered their price objective on shares of Alaska Air Group from $95.00 to $55.00 and set a "positive" rating on the stock in a research report on Monday, April 7th. UBS Group boosted their price objective on shares of 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 boosted their price objective on shares of 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, Bank of America reduced 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 research note on Thursday, April 3rd. 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 company presently has an average rating of "Moderate Buy" and an average price target of $67.42.

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.