Entropy Technologies LP Invests $629,000 in Alaska Air Group, Inc. (NYSE:ALK)

Key Points

• Entropy Technologies LP has acquired a new stake in Alaska Air Group worth approximately $629,000, purchasing 12,782 shares in the first quarter.
• Several institutional investors, including Atlas Capital Advisors and Connor Clark & Lunn Investment Management, have significantly increased their stakes in Alaska Air Group during the same period.
• Research analysts have raised their price targets for Alaska Air Group, with Barclays and Susquehanna both increasing their objectives to $60, contributing to an overall consensus target of $67.83.

Entropy Technologies LP acquired a new stake in Alaska Air Group, Inc. (NYSE:ALK - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 12,782 shares of the transportation company's stock, valued at approximately $629,000.

Several other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in Alaska Air Group by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,225,054 shares of the transportation company's stock valued at $403,076,000 after buying an additional 56,740 shares during the period. Point72 Asset Management L.P. raised its holdings in 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 worth $138,191,000 after purchasing an additional 1,222,277 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Alaska Air Group by 20.2% in 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 purchasing an additional 321,505 shares in the last quarter. Barclays PLC raised its holdings in Alaska Air Group by 11.5% in the 4th quarter. Barclays PLC now owns 1,179,784 shares of the transportation company's stock worth $76,390,000 after purchasing an additional 121,220 shares in the last quarter. Finally, Voloridge Investment Management LLC raised its holdings in Alaska Air Group by 22.1% in the 4th quarter. Voloridge Investment Management LLC now owns 973,956 shares of the transportation company's stock worth $63,064,000 after purchasing an additional 176,576 shares in the last quarter. Hedge funds and other institutional investors own 81.90% of the company's stock.

Analyst Ratings Changes

ALK has been the subject of several research reports. UBS Group upped their price objective on shares of Alaska Air Group from $49.00 to $56.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Barclays increased 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 note on Thursday, July 10th. TD Cowen increased their price target on shares of Alaska Air Group from $54.00 to $62.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Finally, Susquehanna increased their price target on shares of Alaska Air Group from $50.00 to $60.00 and gave the stock a "positive" rating in a research note on Tuesday, August 5th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $67.83.

Insider Buying and Selling at Alaska Air Group

In other news, CFO Shane R. Tackett sold 5,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $57.06, for a total value of $285,300.00. Following the transaction, the chief financial officer directly owned 43,335 shares in the company, valued at approximately $2,472,695.10. This represents a 10.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Andrew R. Harrison sold 7,600 shares of the company's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $53.22, for a total transaction of $404,472.00. Following the completion of the sale, the executive vice president directly owned 18,930 shares of the company's stock, valued at approximately $1,007,454.60. This trade represents a 28.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,046 shares of company stock worth $1,242,345 over the last quarter. Insiders own 1.00% of the company's stock.

Alaska Air Group Price Performance

NYSE:ALK traded down $0.94 on Thursday, reaching $56.82. 1,783,763 shares of the company's stock traded hands, compared to its average volume of 2,693,320. Alaska Air Group, Inc. has a 12 month low of $34.44 and a 12 month high of $78.08. The stock has a 50-day simple moving average of $51.41 and a 200-day simple moving average of $54.66. 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 firm has a market cap of $6.55 billion, a PE ratio of 23.10, a P/E/G ratio of 0.56 and a beta of 1.45.

Alaska Air Group (NYSE:ALK - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $1.78 earnings per share for the quarter, beating analysts' consensus estimates of $1.56 by $0.22. Alaska Air Group had a net margin of 2.33% and a return on equity of 12.62%. The business had revenue of $3.70 billion for the quarter, compared to analysts' expectations of $3.65 billion. During the same quarter in the previous year, the business posted $2.55 earnings per share. The business's revenue was up 27.9% compared to the same quarter last year. Equities research analysts forecast 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.