Caisse DE Depot ET Placement DU Quebec Buys New Holdings in Alaska Air Group, Inc. $ALK

Key Points

• Caisse DE Depot ET Placement DU Quebec has acquired a new stake in Alaska Air Group, purchasing 50,658 shares valued at approximately $2.49 million during the 1st quarter.
• Alaska Air Group reported a quarterly revenue of $3.70 billion, surpassing estimates and exhibiting a 27.9% increase compared to the same period last year.
• Equities analysts have a consensus rating of "Moderate Buy" for Alaska Air Group, with target price estimates ranging from $55.00 to $70.00 after recent upgrades from multiple firms.

Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 50,658 shares of the transportation company's stock, valued at approximately $2,493,000.

A number of other institutional investors have also modified their holdings of the stock. Corebridge Financial Inc. lifted its position in shares of Alaska Air Group by 2,442.4% in the 1st quarter. Corebridge Financial Inc. now owns 135,942 shares of the transportation company's stock worth $6,691,000 after purchasing an additional 130,595 shares during the period. Freedom Investment Management Inc. purchased a new stake in shares of Alaska Air Group in the 1st quarter worth approximately $353,000. MetLife Investment Management LLC lifted its position in shares of Alaska Air Group by 13,665.0% in the 1st quarter. MetLife Investment Management LLC now owns 303,380 shares of the transportation company's stock worth $14,932,000 after purchasing an additional 301,176 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Alaska Air Group in the 1st quarter worth approximately $5,606,000. Finally, Quantitative Investment Management LLC lifted its position in shares of Alaska Air Group by 270.8% in the 1st quarter. Quantitative Investment Management LLC now owns 59,316 shares of the transportation company's stock worth $2,919,000 after purchasing an additional 43,319 shares during the period. 81.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALK has been the subject of several research reports. Barclays upped their price target on shares of Alaska Air Group from $55.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Raymond James Financial raised shares of Alaska Air Group from a "market perform" rating to an "outperform" rating and set a $70.00 price objective on the stock in a research report on Monday, August 25th. UBS Group lifted their price objective on shares of Alaska Air Group from $49.00 to $56.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Finally, Susquehanna lifted their price objective on shares of Alaska Air Group from $50.00 to $60.00 and gave the stock a "positive" rating in a research report on Tuesday, August 5th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $68.00.

Insider Activity at Alaska Air Group

In related news, VP Emily Halverson sold 2,946 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $51.34, for a total value of $151,247.64. Following the sale, the vice president owned 8,253 shares in the company, valued at $423,709.02. This represents a 26.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kyle B. Levine sold 5,914 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $57.75, for a total value of $341,533.50. Following the completion of the sale, the senior vice president owned 20,917 shares in the company, valued at approximately $1,207,956.75. This represents a 22.04% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,460 shares of company stock valued at $1,182,553. Company insiders own 0.92% of the company's stock.

Alaska Air Group Stock Performance

Shares of Alaska Air Group stock traded down $0.90 during midday trading on Tuesday, hitting $61.88. The company had a trading volume of 1,054,477 shares, compared to its average volume of 3,102,404. The stock has a market cap of $7.14 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 0.61 and a beta of 1.45. 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 company has a fifty day simple moving average of $53.96 and a 200 day simple moving average of $53.17. Alaska Air Group, Inc. has a 12-month low of $35.76 and a 12-month high of $78.08.

Alaska Air Group (NYSE:ALK - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.56 by $0.22. The firm had revenue of $3.70 billion during the quarter, compared to analyst estimates 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 revenue was up 27.9% on a year-over-year basis. During the same period last year, the firm posted $2.55 EPS. Alaska Air Group has set its Q3 2025 guidance at 1.000-1.400 EPS. FY 2025 guidance at 3.250- EPS. As a group, analysts predict that Alaska Air Group, Inc. will post 6.03 earnings per share for the current fiscal year.

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.