Assenagon Asset Management S.A. Has $30.88 Million Position in Alaska Air Group, Inc. $ALK

Key Points

• Assenagon Asset Management S.A. increased its stake in Alaska Air Group by 2,880.4% during Q2, acquiring 603,097 shares to reach a total of 624,035 shares valued at approximately $30.88 million.
• The current consensus rating for Alaska Air Group from thirteen analysts is "Buy", with an average target price of $71.92, indicating positive sentiment about the stock's future performance.
• Alaska Air Group recently reported earnings per share (EPS) of $1.78 for the last quarter, exceeding analyst estimates and showing a 27.9% increase in revenue compared to the previous year.

Assenagon Asset Management S.A. raised its holdings in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 2,880.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 624,035 shares of the transportation company's stock after purchasing an additional 603,097 shares during the quarter. Assenagon Asset Management S.A. owned about 0.51% of Alaska Air Group worth $30,877,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of ALK. New Mexico Educational Retirement Board acquired a new position in shares of Alaska Air Group during the first quarter worth about $1,235,000. Cambridge Investment Research Advisors Inc. increased its stake in shares of Alaska Air Group by 416.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 30,499 shares of the transportation company's stock worth $1,501,000 after acquiring an additional 24,592 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Alaska Air Group by 2.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,160 shares of the transportation company's stock worth $1,238,000 after acquiring an additional 713 shares during the period. KBC Group NV acquired a new position in shares of Alaska Air Group during the first quarter worth about $76,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Alaska Air Group by 8.9% during the first quarter. Bank of New York Mellon Corp now owns 971,938 shares of the transportation company's stock worth $47,839,000 after acquiring an additional 79,099 shares during the period. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alaska Air Group

In related 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 transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Shane R. Tackett sold 5,000 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $57.06, for a total transaction of $285,300.00. Following the transaction, the chief financial officer owned 43,335 shares in the company, valued at approximately $2,472,695.10. The trade was a 10.34% 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 90 days. 0.92% of the stock is owned by corporate insiders.

Alaska Air Group Stock Performance

NYSE:ALK traded down $2.37 during trading hours on Monday, hitting $54.88. 3,999,073 shares of the company traded hands, compared to its average volume of 2,770,497. 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 $6.33 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 0.62 and a beta of 1.45. The company has a current ratio of 0.52, a quick ratio of 0.49 and a debt-to-equity ratio of 1.14. The firm has a 50-day moving average of $57.01 and a 200 day moving average of $52.16.

Alaska Air Group (NYSE:ALK - Get Free Report) last announced its quarterly earnings data 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 quarter in the prior year, the company posted $2.55 EPS. The business's revenue was up 27.9% on a year-over-year basis. Alaska Air Group has set its Q3 2025 guidance at 1.000-1.400 EPS. FY 2025 guidance at 3.250- EPS. On average, analysts forecast that Alaska Air Group, Inc. will post 6.03 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on ALK shares. Susquehanna upped their price target on shares of Alaska Air Group from $50.00 to $60.00 and gave the company a "positive" rating in a report on Tuesday, August 5th. JPMorgan Chase & Co. increased their price target on shares of Alaska Air Group from $73.00 to $96.00 and gave the stock an "overweight" rating in a research note on Friday, September 12th. Evercore ISI dropped their price objective on shares of Alaska Air Group from $70.00 to $65.00 and set an "outperform" rating for the company in a research report on Tuesday, September 16th. Raymond James Financial raised shares of Alaska Air Group from a "market perform" rating to an "outperform" rating and set a $70.00 price target for the company in a report on Monday, August 25th. Finally, Barclays raised 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. Thirteen equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $71.92.

About Alaska Air Group

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.