Allianz Asset Management GmbH Raises Stock Holdings in Alaska Air Group, Inc. $ALK

Key Points

• Allianz Asset Management GmbH has increased its holdings in Alaska Air Group by 10.8%, now owning 123,947 shares valued at approximately $6.1 million.
• Recent hedge fund activity shows significant increases in stakes, with Brooklyn Investment Group boosting its position by 41.1% and UMB Bank growing its stake by 71.9%.
• Alaska Air Group reported quarterly earnings of $1.78 EPS, surpassing estimates, with revenues up 27.9% year-over-year.

Allianz Asset Management GmbH increased its position in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 10.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 123,947 shares of the transportation company's stock after purchasing an additional 12,041 shares during the period. Allianz Asset Management GmbH owned 0.10% of Alaska Air Group worth $6,133,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group grew its stake in Alaska Air Group by 41.1% in the first quarter. Brooklyn Investment Group now owns 632 shares of the transportation company's stock worth $31,000 after purchasing an additional 184 shares during the period. Headlands Technologies LLC purchased a new stake in Alaska Air Group in the first quarter worth $71,000. KBC Group NV purchased a new stake in Alaska Air Group in the first quarter worth $76,000. State of Wyoming purchased a new stake in Alaska Air Group in the first quarter worth $92,000. Finally, UMB Bank n.a. grew its stake in shares of Alaska Air Group by 71.9% in the second quarter. UMB Bank n.a. now owns 2,230 shares of the transportation company's stock worth $110,000 after acquiring an additional 933 shares during the last quarter. 81.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Kyle B. Levine sold 5,914 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $57.75, for a total transaction of $341,533.50. Following the transaction, the senior vice president directly owned 20,917 shares of the company's stock, valued at $1,207,956.75. This represents a 22.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Andrew R. Harrison sold 7,600 shares of the company'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 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. Insiders have sold a total of 18,514 shares of company stock valued at $1,031,306 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Alaska Air Group Trading Down 2.7%

Shares of NYSE:ALK opened at $47.69 on Thursday. The company has a market cap of $5.50 billion, a P/E ratio of 19.38, a PEG ratio of 0.77 and a beta of 1.40. 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 1 year low of $39.79 and a 1 year high of $78.08. The stock's fifty day moving average price is $55.35 and its 200-day moving average price is $51.76.

Alaska Air Group (NYSE:ALK - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.56 by $0.22. The firm had revenue of $3.70 billion for 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 company's quarterly revenue was up 27.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.55 earnings per share. Sell-side analysts expect that Alaska Air Group, Inc. will post 6.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

ALK has been the topic of a number of recent research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Alaska Air Group in a research note on Wednesday, October 8th. Susquehanna set a $58.00 target price on Alaska Air Group and gave the stock a "positive" rating in a research note on Friday, October 3rd. Barclays increased their target price on Alaska Air Group from $55.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Zacks Research cut Alaska Air Group from a "hold" rating to a "strong sell" rating in a research note on Wednesday, October 8th. Finally, Evercore ISI cut their target price on Alaska Air Group from $70.00 to $65.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 16th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Alaska Air Group has a consensus rating of "Moderate Buy" and an average target price of $71.62.

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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