Bank of America Corp DE Invests $32.75 Million in Alaska Air Group, Inc. $ALK

Key Points

• Bank of America acquired 627,405 Alaska Air Group shares during the second quarter, worth approximately $32.75 million and representing about 0.56% of the company.
• Institutional ownership remains high at 81.9%, with BlackRock and Primecap Management also establishing significant positions during the quarter.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $60.27, while Alaska Air reported a second-quarter loss of $0.92 per share, slightly better than expectations.

Bank of America Corp DE acquired a new stake in Alaska Air Group, Inc. (NYSE:ALK - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 627,405 shares of the transportation company's stock, valued at approximately $32,751,000. Bank of America Corp DE owned approximately 0.56% of Alaska Air Group 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 ALK. BlackRock Inc. acquired a new stake in Alaska Air Group in the 2nd quarter valued at about $606,307,000. Primecap Management Co. CA acquired a new position in shares of Alaska Air Group during the second quarter worth about $168,467,000. Capital Research Global Investors grew its position in shares of Alaska Air Group by 86.8% during the fourth quarter. Capital Research Global Investors now owns 3,175,350 shares of the transportation company's stock worth $159,720,000 after buying an additional 1,475,350 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Alaska Air Group during the second quarter worth about $34,776,000. Finally, Privium Fund Management UK Ltd purchased a new stake in shares of Alaska Air Group during the second quarter worth approximately $27,195,000. 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 have commented on ALK shares. Raymond James Financial reissued an "outperform" rating and issued a $52.00 price objective (down from $60.00) on shares of Alaska Air Group in a research report on Monday, August 24th. UBS Group reissued a "buy" rating and issued a $54.00 target price (up from $52.00) on shares of Alaska Air Group in a report on Tuesday. The Goldman Sachs Group restated a "buy" rating and issued a $69.00 price target (up from $58.00) on shares of Alaska Air Group in a research note on Thursday, July 2nd. Wall Street Zen downgraded Alaska Air Group from a "sell" rating to a "strong sell" rating in a report on Saturday. Finally, Cantor Fitzgerald set a $46.00 price objective on Alaska Air Group in a research report on Monday, August 24th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Alaska Air Group currently has an average rating of "Moderate Buy" and a consensus target price of $60.27.

Alaska Air Group Trading Down 0.1%

Shares of ALK stock opened at $41.86 on Wednesday. The business's 50 day moving average is $44.26 and its two-hundred day moving average is $43.31. Alaska Air Group, Inc. has a twelve month low of $33.03 and a twelve month high of $60.63. The company has a market capitalization of $4.66 billion, a P/E ratio of -26.66 and a beta of 1.28. The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 1.58.

Alaska Air Group (NYSE:ALK - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The transportation company reported ($0.92) EPS for the quarter, topping the consensus estimate of ($0.99) by $0.07. Alaska Air Group had a negative return on equity of 3.11% and a negative net margin of 1.19%.The business had revenue of $4.07 billion during the quarter, compared to analysts' expectations of $4.09 billion. During the same quarter in the prior year, the business earned $1.42 earnings per share. The company's quarterly revenue was up 9.7% compared to the same quarter last year. Alaska Air Group has set its Q3 2026 guidance at 0.000-1.000 EPS. Equities analysts forecast that Alaska Air Group, Inc. will post -1.74 EPS for the current year.

Insider Activity

In other news, CEO Benito Minicucci acquired 25,000 shares of Alaska Air Group stock in a transaction that occurred on Thursday, August 20th. The stock was purchased at an average price of $40.06 per share, for a total transaction of $1,001,500.00. Following the completion of the transaction, the chief executive officer directly owned 256,582 shares in the company, valued at approximately $10,278,674.92. This trade represents a 10.80% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andrew Harrison sold 5,300 shares of Alaska Air Group stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $49.67, for a total value of $263,251.00. Following the completion of the sale, the executive vice president directly owned 25,528 shares in the company, valued at $1,267,975.76. This represents a 17.19% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.00% of the company's stock.

Alaska Air Group Company Profile

Alaska Air Group, Inc is an airline holding company whose principal subsidiaries include Alaska Airlines, Hawaiian Airlines and regional carrier Horizon Air. The company provides scheduled passenger and air cargo transportation, along with related services such as aircraft maintenance and ground handling through affiliated businesses.

Alaska Airlines serves destinations throughout the United States, Canada, Mexico, Costa Rica and other parts of North America, while Hawaiian Airlines connects the Hawaiian Islands with the U.S.

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