Barnett & Company Inc. Sells 9,200 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Key Points

• Barnett & Company Inc. has reduced its stake in Alaska Air Group by 22.5%, now holding 31,677 shares valued at approximately $1.56 million, making it the 26th largest position in their portfolio.
• Alaska Air Group reported quarterly earnings of $1.78 per share, beating estimates of $1.56, with a revenue of $3.70 billion, which is 27.9% higher than the same quarter last year.
• Several hedge funds have increased their stakes in Alaska Air Group, with institutional investors now owning 81.90% of the stock, indicating strong confidence in the company.

Barnett & Company Inc. lowered its position in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 22.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,677 shares of the transportation company's stock after selling 9,200 shares during the quarter. Alaska Air Group makes up approximately 1.3% of Barnett & Company Inc.'s holdings, making the stock its 26th biggest position. Barnett & Company Inc.'s holdings in Alaska Air Group were worth $1,559,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. US Bancorp DE grew its holdings in shares of Alaska Air Group by 1.0% in the 1st quarter. US Bancorp DE now owns 21,982 shares of the transportation company's stock worth $1,082,000 after purchasing an additional 210 shares during the last quarter. Valeo Financial Advisors LLC raised its holdings in Alaska Air Group by 3.4% during the 1st quarter. Valeo Financial Advisors LLC now owns 7,821 shares of the transportation company's stock worth $385,000 after purchasing an additional 256 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in Alaska Air Group by 0.8% during the 1st quarter. Meeder Asset Management Inc. now owns 43,865 shares of the transportation company's stock worth $2,159,000 after purchasing an additional 339 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in Alaska Air Group by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 55,170 shares of the transportation company's stock worth $3,572,000 after buying an additional 340 shares during the last quarter. Finally, Hancock Whitney Corp boosted its holdings in Alaska Air Group by 5.8% during the fourth quarter. Hancock Whitney Corp now owns 6,848 shares of the transportation company's stock worth $443,000 after buying an additional 376 shares during the last quarter. Hedge funds and other institutional investors own 81.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ALK shares. Barclays increased their price target on Alaska Air Group from $55.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. UBS Group increased their price target on Alaska Air Group from $49.00 to $56.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. TD Cowen increased their price target on Alaska Air Group from $54.00 to $62.00 and gave the stock a "buy" rating in a report on Friday, April 25th. Finally, Susquehanna increased their price target on Alaska Air Group from $50.00 to $60.00 and gave the stock a "positive" rating in a report on Tuesday, August 5th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $67.83.

Alaska Air Group Stock Performance

Shares of ALK stock traded down $0.88 on Thursday, reaching $56.87. The stock had a trading volume of 930,837 shares, compared to its average volume of 3,182,353. 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 firm's 50-day moving average is $51.29 and its two-hundred day moving average is $54.75. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of 23.12, a P/E/G ratio of 0.55 and a beta of 1.45. Alaska Air Group, Inc. has a 12 month low of $34.44 and a 12 month high of $78.08.

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 (EPS) 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 analysts' expectations of $3.65 billion. Alaska Air Group had a net margin of 2.33% and a return on equity of 12.62%. Alaska Air Group's quarterly revenue was up 27.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.55 EPS. On average, research analysts expect that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

Insider Transactions at Alaska Air Group

In related news, VP Emily Halverson sold 2,946 shares of Alaska Air Group stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $51.34, for a total transaction of $151,247.64. Following the completion of the sale, the vice president owned 8,253 shares of the company's stock, valued at approximately $423,709.02. The trade was a 26.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Andrew R. Harrison sold 7,600 shares of Alaska Air Group stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $53.22, for a total transaction of $404,472.00. Following the sale, the executive vice president directly owned 18,930 shares of the company's stock, valued at $1,007,454.60. The trade was a 28.65% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,046 shares of company stock worth $957,045. 1.00% of the stock is owned by insiders.

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.