Federated Hermes Inc. Makes New Investment in Alaska Air Group, Inc. (NYSE:ALK)

Key Points

• Federated Hermes Inc. has acquired a new position in Alaska Air Group, Inc., purchasing 11,654 shares worth approximately $574,000 in the first quarter.
• A notable insider transaction involved EVP Andrew R. Harrison selling 7,600 shares, resulting in a 28.65% decrease in his position, which raised some concerns about insider confidence.
• Alaska Air Group reported a net margin of 2.33% and a quarterly revenue increase of 27.9% year-over-year, with earnings per share of $1.78, surpassing analyst forecasts.

Federated Hermes Inc. purchased a new position in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 11,654 shares of the transportation company's stock, valued at approximately $574,000.

A number of other large investors have also recently bought and sold shares of ALK. Perkins Coie Trust Co lifted its position in 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 acquiring an additional 377 shares in the last quarter. Wood Tarver Financial Group LLC bought a new position in shares of Alaska Air Group in the fourth quarter valued at approximately $38,000. UMB Bank n.a. grew its holdings in shares of Alaska Air Group by 459.1% in the first quarter. UMB Bank n.a. now owns 1,297 shares of the transportation company's stock valued at $64,000 after acquiring an additional 1,065 shares in the last quarter. KBC Group NV bought a new position in shares of Alaska Air Group in the first quarter valued at approximately $76,000. Finally, Fifth Third Bancorp grew its holdings in shares of Alaska Air Group by 96.3% in the first quarter. Fifth Third Bancorp now owns 1,926 shares of the transportation company's stock valued at $95,000 after acquiring an additional 945 shares in the last quarter. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alaska Air Group

In other news, 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 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 approximately $423,709.02. The trade was a 26.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Andrew R. Harrison sold 7,600 shares of Alaska Air Group stock in a transaction on Monday, July 28th. The stock was sold at an average price of $53.22, for a total transaction of $404,472.00. Following the sale, the executive vice president directly owned 18,930 shares of the company's stock, valued at $1,007,454.60. This represents a 28.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,046 shares of company stock valued at $957,045. Insiders own 0.92% of the company's stock.

Alaska Air Group Price Performance

NYSE:ALK traded down $1.10 during trading hours on Monday, hitting $51.18. The stock had a trading volume of 2,215,391 shares, compared to its average volume of 3,201,062. The company has a 50 day simple moving average of $51.04 and a two-hundred day simple moving average of $54.85. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.52 and a quick ratio of 0.49. Alaska Air Group, Inc. has a one year low of $34.44 and a one year high of $78.08. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of 20.81, a P/E/G ratio of 0.51 and a beta of 1.45.

Alaska Air Group (NYSE:ALK - Get Free Report) last announced its quarterly 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. Alaska Air Group had a net margin of 2.33% and a return on equity of 12.62%. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period last year, the firm earned $2.55 EPS. The business's quarterly revenue was up 27.9% compared to the same quarter last year. Research analysts forecast that Alaska Air Group, Inc. will post 6.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ALK has been the topic of a number of recent analyst reports. UBS Group lifted their target price on Alaska Air Group from $49.00 to $56.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Barclays boosted their target price on shares of Alaska Air Group from $55.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. TD Cowen raised 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 objective on Alaska Air Group from $50.00 to $60.00 and gave the company a "positive" rating in a report on Tuesday, August 5th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Alaska Air Group presently has an average rating of "Moderate Buy" and an average target price of $67.83.

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.