Charles Schwab Investment Management Inc. Sells 173,358 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Alaska Air Group by 12.1%, selling 173,358 shares and holding approximately 1.03% of the company valued at $61.95 million.
• Brokerages have recently increased their price targets for Alaska Air Group, with an average target now at $67.83, and eleven analysts providing a "buy" rating on the stock.
• The company's recent earnings report showed $1.78 EPS, exceeding estimates by $0.22, with a year-over-year revenue growth of 27.9%.

Charles Schwab Investment Management Inc. cut its stake in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 12.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,258,694 shares of the transportation company's stock after selling 173,358 shares during the period. Charles Schwab Investment Management Inc. owned 1.03% of Alaska Air Group worth $61,953,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ALK. Point72 Asset Management L.P. boosted its holdings in Alaska Air Group by 134.0% in 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 acquiring an additional 1,222,277 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in Alaska Air Group by 4,615.3% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 943,064 shares of the transportation company's stock valued at $61,063,000 after acquiring an additional 923,064 shares during the last quarter. Candlestick Capital Management LP acquired a new position in Alaska Air Group in the fourth quarter valued at approximately $51,306,000. Interval Partners LP acquired a new position in Alaska Air Group in the fourth quarter valued at approximately $50,507,000. Finally, Driehaus Capital Management LLC acquired a new position in Alaska Air Group in the fourth quarter valued at approximately $37,562,000. 81.90% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Emily Halverson sold 2,946 shares of the firm's stock in a transaction on 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 sale, the vice president directly owned 8,253 shares of the company's stock, valued at $423,709.02. This trade represents a 26.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Shane R. Tackett sold 5,000 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $57.06, for a total value of $285,300.00. Following the sale, the chief financial officer directly owned 43,335 shares of the company's stock, valued at approximately $2,472,695.10. This represents a 10.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,046 shares of company stock valued at $1,242,345 in the last ninety days. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Alaska Air Group Stock Up 0.9%

NYSE ALK traded up $0.52 during mid-day trading on Friday, hitting $57.39. The company's stock had a trading volume of 1,606,443 shares, compared to its average volume of 2,624,386. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 23.33, a PEG ratio of 0.56 and a beta of 1.45. The company's 50 day simple moving average is $51.51 and its 200 day simple moving average is $54.44. Alaska Air Group, Inc. has a twelve month low of $34.44 and a twelve month high of $78.08. The company has a current ratio of 0.52, a quick ratio of 0.49 and a debt-to-equity ratio of 1.14.

Alaska Air Group (NYSE:ALK - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $1.78 EPS for the quarter, beating analysts' consensus estimates of $1.56 by $0.22. Alaska Air Group had a return on equity of 12.62% and a net margin of 2.33%. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same period in the prior year, the firm posted $2.55 EPS. Alaska Air Group's quarterly revenue was up 27.9% compared to the same quarter last year. Analysts anticipate that Alaska Air Group, Inc. will post 6.03 earnings per share for the current 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.