Deroy & Devereaux Private Investment Counsel Inc. Lowers Stake in Alaska Air Group, Inc. (NYSE:ALK)

Deroy & Devereaux Private Investment Counsel Inc. reduced its holdings in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 20.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,780 shares of the transportation company's stock after selling 21,685 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc. owned about 0.07% of Alaska Air Group worth $4,074,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ALK. Perkins Coie Trust Co lifted its holdings in shares of Alaska Air Group by 125.7% in the 1st quarter. Perkins Coie Trust Co now owns 677 shares of the transportation company's stock valued at $33,000 after buying an additional 377 shares during the period. Wood Tarver Financial Group LLC acquired a new stake in shares of Alaska Air Group in the 4th quarter valued at approximately $38,000. SBI Securities Co. Ltd. acquired a new stake in shares of Alaska Air Group in the 4th quarter valued at approximately $52,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Alaska Air Group by 61.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company's stock valued at $62,000 after buying an additional 364 shares during the period. Finally, UMB Bank n.a. lifted its holdings in shares of Alaska Air Group by 459.1% in the 1st quarter. UMB Bank n.a. now owns 1,297 shares of the transportation company's stock valued at $64,000 after buying an additional 1,065 shares during the period. 81.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on ALK. UBS Group cut Alaska Air Group from a "buy" rating to a "neutral" rating and reduced their price target for the company from $75.00 to $54.00 in a report on Monday, April 7th. Susquehanna reduced their price target on Alaska Air Group from $95.00 to $55.00 and set a "positive" rating for the company in a report on Monday, April 7th. Barclays dropped their price objective on Alaska Air Group from $62.00 to $55.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. TD Cowen raised their price objective 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. Finally, Bank of America dropped their price objective on Alaska Air Group from $80.00 to $70.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.83.

Alaska Air Group Price Performance

Alaska Air Group stock traded up $0.13 during mid-day trading on Friday, hitting $51.01. 1,716,510 shares of the company were exchanged, compared to its average volume of 2,900,919. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.56 and a quick ratio of 0.52. The business's 50 day simple moving average is $49.95 and its two-hundred day simple moving average is $57.36. The company has a market capitalization of $6.26 billion, a P/E ratio of 18.55, a PEG ratio of 0.53 and a beta of 1.41. Alaska Air Group, Inc. has a 12-month low of $32.62 and a 12-month high of $78.08.

Alaska Air Group (NYSE:ALK - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The transportation company reported ($0.77) EPS for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.05). The business had revenue of $3.14 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 40.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.92) EPS. Analysts forecast that Alaska Air Group, Inc. will post 6.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Andrew R. Harrison sold 7,500 shares of Alaska Air Group stock in a transaction on Monday, May 19th. The stock was sold at an average price of $53.51, for a total value of $401,325.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Emily Halverson sold 2,946 shares of Alaska Air Group stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $51.34, for a total value 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 approximately $423,709.02. This represents a 26.31% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,479 shares of company stock valued at $554,228. Company insiders own 1.00% of the company's stock.

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.