Arrowpoint Investment Partners Singapore Pte. Ltd. Makes New Investment in Alaska Air Group, Inc. (NYSE:ALK)

Key Points

• Arrowpoint Investment Partners Singapore acquired a new position in Alaska Air Group, purchasing 12,900 shares valued at approximately $635,000 in the first quarter.
• Several institutional investors, including HighTower Advisors and AGF Management Ltd., have significantly increased their holdings in Alaska Air Group, which now has 81.90% of its stock owned by institutional investors and hedge funds.
• Research analysts have increased their target prices for Alaska Air Group, with the consensus target now at $67.83, indicating a generally positive outlook for the company's future earnings growth.

Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new stake in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,900 shares of the transportation company's stock, valued at approximately $635,000.

Other institutional investors and hedge funds have also modified their holdings of the company. US Bancorp DE boosted 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 worth $1,082,000 after purchasing an additional 210 shares in the last quarter. Valeo Financial Advisors LLC boosted its holdings in Alaska Air Group by 3.4% in the first quarter. Valeo Financial Advisors LLC now owns 7,821 shares of the transportation company's stock worth $385,000 after purchasing an additional 256 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in Alaska Air Group by 0.8% in the first quarter. Meeder Asset Management Inc. now owns 43,865 shares of the transportation company's stock worth $2,159,000 after purchasing an additional 339 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in Alaska Air Group by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 55,170 shares of the transportation company's stock worth $3,572,000 after purchasing an additional 340 shares in the last quarter. Finally, Hancock Whitney Corp boosted its holdings in Alaska Air Group by 5.8% in the fourth quarter. Hancock Whitney Corp now owns 6,848 shares of the transportation company's stock worth $443,000 after purchasing an additional 376 shares in the last quarter. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Susquehanna upped their price objective on shares of Alaska Air Group from $50.00 to $60.00 and gave the stock a "positive" rating in a report on Tuesday, August 5th. TD Cowen upped their price objective on shares of Alaska Air Group from $54.00 to $62.00 and gave the stock a "buy" rating in a report on Friday, April 25th. UBS Group upped their price objective on shares of Alaska Air Group from $49.00 to $56.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Finally, Barclays upped their price objective on shares of Alaska Air Group from $55.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.83.

Alaska Air Group Stock Performance

ALK stock traded down $0.94 during mid-day trading on Thursday, reaching $56.82. 1,783,763 shares of the stock traded hands, compared to its average volume of 3,188,556. 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 52 week low of $34.44 and a 52 week high of $78.08. The business has a 50-day moving average of $51.29 and a two-hundred day moving average of $54.75. The firm has a market capitalization of $6.55 billion, a PE ratio of 23.10, a P/E/G ratio of 0.55 and a beta of 1.45.

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, beating analysts' consensus estimates of $1.56 by $0.22. Alaska Air Group had a net margin of 2.33% and a return on equity of 12.62%. The company had revenue of $3.70 billion during the quarter, compared to analysts' expectations of $3.65 billion. During the same period in the prior year, the company earned $2.55 earnings per share. The business's quarterly revenue was up 27.9% compared to the same quarter last year. As a group, equities analysts predict that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

Insider Transactions at Alaska Air Group

In other news, VP Emily Halverson sold 2,946 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were 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. This represents a 26.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew R. Harrison sold 7,600 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $53.22, for a total transaction 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. Insiders have sold 18,046 shares of company stock valued at $957,045 in the last ninety days. 1.00% of the stock is owned by company insiders.

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.