Bank of New York Mellon Corp Acquires 79,099 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Bank of New York Mellon Corp increased its position in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 8.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 971,938 shares of the transportation company's stock after buying an additional 79,099 shares during the period. Bank of New York Mellon Corp owned 0.79% of Alaska Air Group worth $47,839,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ALK. FMR LLC boosted its stake in Alaska Air Group by 328.7% during the fourth quarter. FMR LLC now owns 4,649,388 shares of the transportation company's stock worth $301,048,000 after acquiring an additional 3,564,749 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Alaska Air Group by 134.0% during the fourth quarter. Point72 Asset Management L.P. now owns 2,134,221 shares of the transportation company's stock valued at $138,191,000 after purchasing an additional 1,222,277 shares during the period. Adage Capital Partners GP L.L.C. boosted its position in shares of Alaska Air Group by 4,615.3% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 943,064 shares of the transportation company's stock worth $61,063,000 after purchasing an additional 923,064 shares in the last quarter. Candlestick Capital Management LP acquired a new stake in shares of Alaska Air Group in the 4th quarter valued at about $51,306,000. Finally, Interval Partners LP acquired a new stake in shares of Alaska Air Group in the 4th quarter valued at about $50,507,000. Institutional investors own 81.90% of the company's stock.

Alaska Air Group Stock Up 0.8%

Alaska Air Group stock traded up $0.40 during midday trading on Monday, hitting $52.94. 2,037,682 shares of the stock were exchanged, compared to its average volume of 3,289,689. Alaska Air Group, Inc. has a 52-week low of $32.62 and a 52-week high of $78.08. The company has a quick ratio of 0.52, a current ratio of 0.56 and a debt-to-equity ratio of 1.05. The business's 50-day moving average price is $50.65 and its 200-day moving average price is $56.72. The stock has a market capitalization of $6.50 billion, a price-to-earnings ratio of 19.25, a price-to-earnings-growth ratio of 0.56 and a beta of 1.41.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Citigroup cut their price target on Alaska Air Group from $83.00 to $81.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. Barclays lifted their price target on shares of Alaska Air Group from $55.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday. Bank of America lowered their price objective on shares of Alaska Air Group from $80.00 to $70.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. TD Cowen lifted their price objective on shares of Alaska Air Group from $54.00 to $62.00 and gave the company a "buy" rating in a report on Friday, April 25th. Finally, Susquehanna decreased their target price on shares of Alaska Air Group from $95.00 to $55.00 and set a "positive" rating for the company in a research report on Monday, April 7th. One equities 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, Alaska Air Group has an average rating of "Moderate Buy" and an average price target of $66.83.

Insider Transactions at Alaska Air Group

In other news, EVP Andrew R. Harrison sold 7,500 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $53.51, for a total transaction of $401,325.00. Following the completion of the transaction, the executive vice president owned 26,530 shares in the company, valued at approximately $1,419,620.30. This represents a 22.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Emily Halverson sold 2,946 shares of Alaska Air Group stock in a transaction dated Thursday, June 5th. The stock was 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 trade represents a 26.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,479 shares of company stock worth $554,228 over the last three months. 0.92% of the stock is owned by insiders.

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.