ARGA Investment Management LP Has $54.39 Million Stake in Alaska Air Group, Inc. $ALK

Key Points

• ARGA Investment Management LP increased its stake in Alaska Air Group by 7.2% during the 2nd quarter, owning approximately $54.39 million worth of shares, making it the firm’s 18th largest position.
• Alaska Air Group reported earnings of $1.05 per share for the last quarter, missing estimates, despite a revenue of $3.77 billion. Analysts predict a full-year EPS of 6.03.
• As of now, around 81.90% of Alaska Air Group's stock is held by institutional investors, reflecting strong institutional interest in the company.

ARGA Investment Management LP boosted its holdings in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 7.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,099,190 shares of the transportation company's stock after buying an additional 74,137 shares during the period. Alaska Air Group makes up about 1.5% of ARGA Investment Management LP's investment portfolio, making the stock its 18th biggest position. ARGA Investment Management LP owned approximately 0.90% of Alaska Air Group worth $54,388,000 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 the business. Brooklyn Investment Group lifted its stake in shares of Alaska Air Group by 41.1% in the 1st quarter. Brooklyn Investment Group now owns 632 shares of the transportation company's stock valued at $31,000 after purchasing an additional 184 shares during the period. US Bancorp DE increased its holdings in Alaska Air Group by 1.0% in the first quarter. US Bancorp DE now owns 21,982 shares of the transportation company's stock valued at $1,082,000 after purchasing an additional 210 shares during the last quarter. Signaturefd LLC lifted its stake in Alaska Air Group by 7.8% in the second quarter. Signaturefd LLC now owns 3,113 shares of the transportation company's stock valued at $154,000 after buying an additional 225 shares during the period. Concurrent Investment Advisors LLC lifted its stake in Alaska Air Group by 3.3% in the second quarter. Concurrent Investment Advisors LLC now owns 7,237 shares of the transportation company's stock valued at $358,000 after buying an additional 232 shares during the period. Finally, Valeo Financial Advisors LLC boosted its holdings in Alaska Air Group by 3.4% during the first quarter. Valeo Financial Advisors LLC now owns 7,821 shares of the transportation company's stock worth $385,000 after buying an additional 256 shares during the last quarter. 81.90% of the stock is owned by institutional investors.

Alaska Air Group Stock Down 2.2%

Alaska Air Group stock opened at $46.62 on Friday. The company has a 50 day moving average of $55.15 and a 200-day moving average of $51.78. The company has a quick ratio of 0.49, a current ratio of 0.52 and a debt-to-equity ratio of 1.14. Alaska Air Group, Inc. has a twelve month low of $39.79 and a twelve month high of $78.08. The stock has a market capitalization of $5.38 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 0.75 and a beta of 1.40.

Alaska Air Group (NYSE:ALK - Get Free Report) last issued its quarterly earnings data on Thursday, October 23rd. The transportation company reported $1.05 EPS for the quarter, missing analysts' consensus estimates of $1.11 by ($0.06). The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. Alaska Air Group had a return on equity of 12.62% and a net margin of 2.33%. On average, equities research analysts anticipate that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

Insider Activity

In related news, SVP Kyle B. Levine sold 5,914 shares of Alaska Air Group stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $57.75, for a total value of $341,533.50. Following the sale, the senior vice president owned 20,917 shares of the company's stock, valued at approximately $1,207,956.75. This trade represents a 22.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew R. Harrison sold 7,600 shares of the business's stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 18,930 shares in the company, valued at $1,007,454.60. The trade was a 28.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,514 shares of company stock worth $1,031,306 over the last three months. Corporate insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ALK shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Alaska Air Group in a research report on Wednesday, October 8th. UBS Group reiterated a "buy" rating and issued a $90.00 target price on shares of Alaska Air Group in a report on Tuesday. Susquehanna set a $58.00 price target on shares of Alaska Air Group and gave the stock a "positive" rating in a research report on Friday, October 3rd. JPMorgan Chase & Co. upped their price objective on shares of Alaska Air Group from $73.00 to $96.00 and gave the company an "overweight" rating in a research report on Friday, September 12th. Finally, Zacks Research downgraded Alaska Air Group from a "hold" rating to a "strong sell" rating in a research note on Wednesday, October 8th. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $71.62.

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.

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