Banque Pictet & Cie SA Purchases New Shares in Alaska Air Group, Inc. (NYSE:ALK)

Banque Pictet & Cie SA acquired a new position in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,726 shares of the transportation company's stock, valued at approximately $380,000.

Several other large investors have also recently added to or reduced their stakes in ALK. New Mexico Educational Retirement Board bought a new stake in shares of Alaska Air Group during the first quarter valued at approximately $1,235,000. Cambridge Investment Research Advisors Inc. grew 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 valued at $1,501,000 after purchasing an additional 24,592 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew 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 valued at $1,238,000 after purchasing an additional 713 shares during the last quarter. KBC Group NV bought a new stake in shares of Alaska Air Group during the first quarter valued at approximately $76,000. Finally, GAMMA Investing LLC grew its stake in shares of Alaska Air Group by 16.5% during the first quarter. GAMMA Investing LLC now owns 4,033 shares of the transportation company's stock valued at $199,000 after purchasing an additional 571 shares during the last quarter. 81.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ALK shares. Bank of America cut 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 increased 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. Susquehanna cut their price objective on shares of Alaska Air Group from $95.00 to $55.00 and set a "positive" rating on the stock in a report on Monday, April 7th. UBS Group assumed coverage on shares of Alaska Air Group in a report on Monday, July 7th. They issued a "neutral" rating and a $49.00 price objective on the stock. Finally, Citigroup cut their target price on shares of Alaska Air Group from $83.00 to $81.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $66.83.

Insider Activity

In related news, 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 transaction of $151,247.64. Following the completion of the transaction, the vice president owned 8,253 shares in the company, valued at approximately $423,709.02. This trade represents a 26.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Andrew R. Harrison sold 7,500 shares of Alaska Air Group stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $53.51, for a total value of $401,325.00. Following the transaction, the executive vice president owned 26,530 shares of the company's stock, valued at $1,419,620.30. The trade was a 22.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,479 shares of company stock valued at $554,228 in the last 90 days. 0.92% of the stock is owned by corporate insiders.

Alaska Air Group Stock Up 0.8%

Shares of ALK traded up $0.40 during midday trading on Monday, hitting $52.94. The stock had a trading volume of 2,037,565 shares, compared to its average volume of 2,915,988. The company has a 50 day simple moving average of $50.65 and a two-hundred day simple moving average of $56.72. Alaska Air Group, Inc. has a twelve month low of $32.62 and a twelve month high of $78.08. The firm has a market cap 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. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.56 and a quick ratio of 0.52.

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

Alaska Air Group Company 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.