Bank of New York Mellon Corp Purchases New Position in Alaska Air Group, Inc. $ALK

Key Points

• Bank of New York Mellon purchased 666,200 Alaska Air Group shares worth approximately $34.8 million, giving it a 0.60% stake. Institutional investors collectively own 81.90% of the company.
• Analysts maintain a generally positive outlook, with 11 Buy, one Hold and two Sell ratings, resulting in a consensus “Moderate Buy” rating and a $61.88 price target.
• Alaska Air Group reported a quarterly loss of $0.92 per share, beating estimates, while revenue rose 9.7% year over year to $4.07 billion. CEO Benito Minicucci also bought 25,000 shares at an average price of $40.06.

Bank of New York Mellon Corp purchased a new stake in Alaska Air Group, Inc. (NYSE:ALK - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 666,200 shares of the transportation company's stock, valued at approximately $34,776,000. Bank of New York Mellon Corp owned 0.60% of Alaska Air Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Alaska Air Group by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 11,059,404 shares of the transportation company's stock worth $556,288,000 after acquiring an additional 110,628 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Alaska Air Group by 2.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,348,163 shares of the transportation company's stock valued at $233,463,000 after purchasing an additional 145,484 shares during the last quarter. Capital Research Global Investors boosted its stake in Alaska Air Group by 86.8% in the fourth quarter. Capital Research Global Investors now owns 3,175,350 shares of the transportation company's stock worth $159,720,000 after purchasing an additional 1,475,350 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Alaska Air Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 2,149,777 shares of the transportation company's stock worth $108,166,000 after purchasing an additional 35,352 shares during the last quarter. Finally, Morgan Stanley increased its stake in shares of Alaska Air Group by 17.1% in the fourth quarter. Morgan Stanley now owns 1,921,213 shares of the transportation company's stock valued at $96,637,000 after buying an additional 280,337 shares in the last quarter. 81.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ALK shares. The Goldman Sachs Group restated a "buy" rating and issued a $69.00 price objective (up from $58.00) on shares of Alaska Air Group in a research report on Thursday, July 2nd. Cantor Fitzgerald set a $46.00 price target on shares of Alaska Air Group in a report on Monday. Weiss Ratings cut shares of Alaska Air Group from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday, August 18th. Barclays set a $65.00 price objective on Alaska Air Group and gave the stock an "overweight" rating in a report on Wednesday, July 22nd. Finally, TD Cowen restated a "buy" rating and set a $46.00 target price (down from $59.00) on shares of Alaska Air Group in a research report on Monday. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Alaska Air Group has a consensus rating of "Moderate Buy" and a consensus price target of $61.88.

Insider Activity at Alaska Air Group

In related news, CEO Benito Minicucci acquired 25,000 shares of the company's stock in a transaction dated Thursday, August 20th. The shares were bought at an average price of $40.06 per share, for a total transaction of $1,001,500.00. Following the purchase, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrew R. Harrison sold 5,300 shares of the 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 of the company's stock, valued at approximately $1,267,975.76. The trade was a 17.19% decrease in their position. The SEC filing for this sale provides additional information. 1.00% of the stock is owned by insiders.

Alaska Air Group Trading Up 0.5%

Alaska Air Group stock opened at $42.43 on Friday. The company has a market cap of $4.73 billion, a price-to-earnings ratio of -27.03 and a beta of 1.29. The firm has a 50-day moving average of $47.44 and a 200-day moving average of $44.95. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.55 and a quick ratio of 0.51. Alaska Air Group, Inc. has a one year low of $33.03 and a one year high of $65.88.

Alaska Air Group (NYSE:ALK - Get Free Report) last released its earnings results on Tuesday, July 21st. The transportation company reported ($0.92) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter in the previous year, the business earned $1.42 earnings per share. Alaska Air Group's quarterly revenue was up 9.7% on a year-over-year basis. Alaska Air Group has set its Q3 2026 guidance at 0.000-1.000 EPS. On average, equities analysts expect that Alaska Air Group, Inc. will post -1.76 earnings per share for the current fiscal year.

Alaska Air Group Company Profile

Alaska Air Group is a publicly traded holding company headquartered in Seattle, Washington, that operates two main airlines—Alaska Airlines and Horizon Air. Through these carriers, the company offers scheduled passenger and cargo services across a network spanning the United States, Canada and Mexico. Its core business activities include domestic and international air transportation, loyalty program management under the Mileage Plan brand, and ancillary revenue streams such as baggage fees, in-flight sales and code-share partnerships with other global airlines.

The roots of Alaska Air Group trace back to the foundation of its flagship carrier, Alaska Airlines, in 1932.

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