Atlas Capital Advisors Inc. Has $572,000 Position in Alaska Air Group, Inc. (NYSE:ALK)

Key Points

• Atlas Capital Advisors Inc. has significantly increased its stake in Alaska Air Group by 452.2%, now owning 11,623 shares worth approximately $572,000.
• Multiple institutional investors, including Cambridge Investment Research Advisors and New Mexico Educational Retirement Board, have also raised their stakes during the first quarter.
• Despite recent insider selling, Alaska Air Group reported a strong quarterly performance with earnings per share (EPS) of $1.78, exceeding analysts' expectations.

Atlas Capital Advisors Inc. raised its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 452.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,623 shares of the transportation company's stock after acquiring an additional 9,518 shares during the quarter. Atlas Capital Advisors Inc.'s holdings in Alaska Air Group were worth $572,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. New Mexico Educational Retirement Board purchased a new stake 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% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 30,499 shares of the transportation company's stock worth $1,501,000 after buying an additional 24,592 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Alaska Air Group by 2.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,160 shares of the transportation company's stock worth $1,238,000 after buying an additional 713 shares during the last quarter. KBC Group NV bought a new stake in shares of Alaska Air Group in the first quarter worth $76,000. Finally, Bank of New York Mellon Corp increased its stake in 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 valued at $47,839,000 after purchasing an additional 79,099 shares during the last quarter. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alaska Air Group

In related news, VP Emily Halverson sold 2,946 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $51.34, for a total value of $151,247.64. Following the transaction, the vice president owned 8,253 shares in the company, valued at approximately $423,709.02. This represents a 26.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Andrew R. Harrison sold 7,600 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $53.22, for a total value of $404,472.00. Following the completion of the transaction, the executive vice president owned 18,930 shares in the company, 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 sold a total of 18,046 shares of company stock worth $957,045 in the last quarter. 0.92% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ALK shares. Susquehanna boosted their target price on shares of Alaska Air Group from $50.00 to $60.00 and gave the company a "positive" rating in a research note 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. 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. Finally, 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. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $67.83.

Alaska Air Group Stock Up 9.9%

Shares of ALK traded up $5.04 during trading hours on Tuesday, reaching $56.18. The company's stock had a trading volume of 3,270,076 shares, compared to its average volume of 2,620,540. The firm has a market cap of $6.48 billion, a price-to-earnings ratio of 22.84, a P/E/G ratio of 0.50 and a beta of 1.45. Alaska Air Group, Inc. has a 1-year low of $34.44 and a 1-year high of $78.08. The company has a quick ratio of 0.49, a current ratio of 0.52 and a debt-to-equity ratio of 1.14. The company has a 50 day moving average of $51.16 and a two-hundred day moving average of $54.73.

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

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.