Comerica Bank Has $3.96 Million Position in Alaska Air Group, Inc. $ALK

Key Points

• Comerica Bank reduced its stake in Alaska Air Group by 34.3% in the first quarter, selling 42,047 shares, leaving it with 80,487 shares valued at approximately $3.96 million.
• Several hedge funds, including UMB Bank and Brooklyn Investment Group, have increased their holdings in Alaska Air Group significantly, indicating a growing institutional interest in the company.
• Analysts have issued positive ratings for Alaska Air Group, with price targets raised by firms like Barclays and Raymond James, now projecting an average target price of $68.00.

Comerica Bank cut its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 34.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,487 shares of the transportation company's stock after selling 42,047 shares during the period. Comerica Bank owned 0.07% of Alaska Air Group worth $3,962,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. American Century Companies Inc. boosted its holdings in Alaska Air Group by 1.5% during the first quarter. American Century Companies Inc. now owns 3,224,165 shares of the transportation company's stock worth $158,693,000 after buying an additional 47,184 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Alaska Air Group by 134.0% in the 4th 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 period. Massachusetts Financial Services Co. MA boosted its stake in Alaska Air Group by 20.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,910,364 shares of the transportation company's stock worth $94,028,000 after acquiring an additional 321,505 shares during the last quarter. Northern Trust Corp boosted its stake in Alaska Air Group by 36.7% during the 1st quarter. Northern Trust Corp now owns 1,062,712 shares of the transportation company's stock worth $52,307,000 after acquiring an additional 285,382 shares during the last quarter. Finally, Voloridge Investment Management LLC grew its holdings in Alaska Air Group by 22.1% during the fourth quarter. Voloridge Investment Management LLC now owns 973,956 shares of the transportation company's stock valued at $63,064,000 after purchasing an additional 176,576 shares during the period. Institutional investors own 81.90% of the company's stock.

Analyst Ratings Changes

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

Insider Activity

In related news, EVP Andrew R. Harrison sold 7,600 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $53.22, for a total value of $404,472.00. Following the transaction, the executive vice president directly owned 18,930 shares in the company, valued at approximately $1,007,454.60. This represents a 28.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kyle B. Levine sold 5,914 shares of Alaska Air Group stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $57.75, for a total transaction of $341,533.50. Following the completion of the sale, the senior vice president owned 20,917 shares of the company's stock, valued at $1,207,956.75. This trade represents a 22.04% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,514 shares of company stock valued at $1,031,306. 0.92% of the stock is owned by company insiders.

Alaska Air Group Stock Performance

Shares of ALK traded up $0.34 during mid-day trading on Thursday, reaching $62.84. The company's stock had a trading volume of 1,572,585 shares, compared to its average volume of 3,095,265. The business has a 50-day simple moving average of $54.50 and a two-hundred day simple moving average of $53.30. The company has a current ratio of 0.52, a quick ratio of 0.49 and a debt-to-equity ratio of 1.14. The stock has a market cap of $7.25 billion, a P/E ratio of 25.70, a PEG ratio of 0.61 and a beta of 1.45. Alaska Air Group, Inc. has a 1-year low of $36.44 and a 1-year high of $78.08.

Alaska Air Group (NYSE:ALK - Get Free Report) last posted its earnings results 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 company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.65 billion. Alaska Air Group had a return on equity of 12.62% and a net margin of 2.33%.The firm's revenue for the quarter was up 27.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.55 earnings per share. 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, equities research analysts anticipate that Alaska Air Group, Inc. will post 6.03 earnings per share for the current fiscal year.

About Alaska Air Group

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.