ARGA Investment Management LP Cuts Position in Alaska Air Group, Inc. (NYSE:ALK)

ARGA Investment Management LP trimmed its holdings in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 1.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,025,053 shares of the transportation company's stock after selling 20,049 shares during the period. Alaska Air Group makes up about 1.7% of ARGA Investment Management LP's holdings, making the stock its 17th largest holding. ARGA Investment Management LP owned approximately 0.84% of Alaska Air Group worth $50,453,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Wood Tarver Financial Group LLC purchased a new position in Alaska Air Group in the fourth quarter worth approximately $38,000. Perkins Coie Trust Co grew its position in 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 during the period. SBI Securities Co. Ltd. purchased a new position in Alaska Air Group in the fourth quarter worth approximately $52,000. EverSource Wealth Advisors LLC grew its position in Alaska Air Group by 61.6% in 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. Finally, Millstone Evans Group LLC purchased a new position in Alaska Air Group in the fourth quarter worth approximately $76,000. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALK has been the topic of a number of research reports. Bank of America decreased their price target on Alaska Air Group from $80.00 to $70.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Susquehanna decreased 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. TD Cowen increased their target price on Alaska Air Group from $54.00 to $62.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Citigroup decreased their target price on Alaska Air Group from $83.00 to $81.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. Finally, Barclays decreased their target price on Alaska Air Group from $62.00 to $55.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Alaska Air Group has a consensus rating of "Moderate Buy" and a consensus price target of $66.42.

Insiders Place Their Bets

In other news, EVP Andrew R. Harrison sold 7,500 shares of Alaska Air Group stock in a transaction on Monday, May 19th. The stock was sold at an average price of $53.51, for a total value of $401,325.00. Following the completion of the sale, the executive vice president owned 26,530 shares of the company's stock, valued at $1,419,620.30. The trade was a 22.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Emily Halverson sold 2,946 shares of Alaska Air Group stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $51.34, for a total value of $151,247.64. Following the completion of the sale, the vice president directly owned 8,253 shares of the company's stock, valued at approximately $423,709.02. This represents a 26.31% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,479 shares of company stock valued at $554,228. Company insiders own 1.00% of the company's stock.

Alaska Air Group Price Performance

Shares of Alaska Air Group stock traded down $0.73 during trading on Wednesday, reaching $49.34. The company's stock had a trading volume of 473,473 shares, compared to its average volume of 2,901,780. The company has a quick ratio of 0.52, a current ratio of 0.56 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 company has a market capitalization of $6.06 billion, a P/E ratio of 18.03, a price-to-earnings-growth ratio of 0.54 and a beta of 1.41. The business has a 50 day moving average price of $50.23 and a 200-day moving average price of $57.12.

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

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.