Edgestream Partners L.P. Acquires New Shares in Alaska Air Group, Inc. (NYSE:ALK)

Edgestream Partners L.P. acquired a new stake in Alaska Air Group, Inc. (NYSE:ALK - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 14,870 shares of the transportation company's stock, valued at approximately $732,000.

Several other large investors have also bought and sold shares of the business. Valeo Financial Advisors LLC boosted its stake in Alaska Air Group by 3.4% in the first quarter. Valeo Financial Advisors LLC now owns 7,821 shares of the transportation company's stock valued at $385,000 after buying an additional 256 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in shares of 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 valued at $3,572,000 after purchasing an additional 340 shares in the last quarter. Hancock Whitney Corp boosted its stake in shares of Alaska Air Group by 5.8% during the fourth quarter. Hancock Whitney Corp now owns 6,848 shares of the transportation company's stock valued at $443,000 after purchasing an additional 376 shares in the last quarter. Perkins Coie Trust Co boosted its stake in shares of Alaska Air Group by 125.7% during the first quarter. Perkins Coie Trust Co now owns 677 shares of the transportation company's stock valued at $33,000 after purchasing an additional 377 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Alaska Air Group by 31.2% during the first quarter. Parallel Advisors LLC now owns 1,953 shares of the transportation company's stock valued at $96,000 after purchasing an additional 464 shares in the last quarter. 81.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALK has been the topic of a number of recent research reports. Barclays lifted 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. UBS Group initiated coverage on Alaska Air Group in a research note on Monday, July 7th. They set a "neutral" rating and a $49.00 price target on the stock. Bank of America cut their price target on Alaska Air Group from $80.00 to $70.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Susquehanna cut their price target on Alaska Air Group from $95.00 to $55.00 and set a "positive" rating on the stock in a research note on Monday, April 7th. Finally, TD Cowen lifted 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. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $66.83.

Insider Buying and Selling

In other Alaska Air Group news, EVP Andrew R. Harrison sold 7,500 shares of Alaska Air Group stock in a transaction that occurred 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 directly owned 26,530 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. Also, VP Emily Halverson sold 2,946 shares of Alaska Air Group 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,479 shares of company stock valued at $554,228. 1.00% of the stock is currently owned by corporate insiders.

Alaska Air Group Price Performance

Shares of ALK opened at $53.10 on Friday. Alaska Air Group, Inc. has a 1 year low of $32.62 and a 1 year high of $78.08. 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 company has a market capitalization of $6.52 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 0.57 and a beta of 1.41. The business has a 50-day moving average of $50.83 and a 200-day moving average of $56.35.

Alaska Air Group (NYSE:ALK - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The transportation company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.05). The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.19 billion. Alaska Air Group had a return on equity of 15.01% and a net margin of 2.86%. Alaska Air Group's revenue was up 40.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.92) earnings per share. As a group, equities research analysts anticipate that Alaska Air Group, Inc. will post 6.03 earnings per share for the current year.

Alaska Air Group Company 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.

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