Freedom Investment Management Inc. Makes New $353,000 Investment in Alaska Air Group, Inc. $ALK

Key Points

• Freedom Investment Management Inc. acquired 7,177 shares of Alaska Air Group, valued at approximately $353,000, during the first quarter, as per its SEC filing.
• Alaska Air Group's stock rose by 2.3% recently, with a current market cap of $7.12 billion and a PE ratio of 25.09.
• Brokerages have upgraded Alaska Air Group's rating, with Raymond James Financial setting a new price target of $70.00, reflecting a positive outlook on the company's performance.

Freedom Investment Management 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 Securities & Exchange Commission. The fund purchased 7,177 shares of the transportation company's stock, valued at approximately $353,000.

Other institutional investors and hedge funds have also modified their holdings of the company. New Mexico Educational Retirement Board purchased a new stake in Alaska Air Group in the 1st quarter worth approximately $1,235,000. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Alaska Air Group by 416.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 30,499 shares of the transportation company's stock worth $1,501,000 after purchasing an additional 24,592 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Alaska Air Group by 2.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,160 shares of the transportation company's stock worth $1,238,000 after purchasing an additional 713 shares during the last quarter. KBC Group NV purchased a new stake in shares of Alaska Air Group in the first quarter valued at $76,000. Finally, Bank of New York Mellon Corp grew its position in shares of Alaska Air Group by 8.9% in the first quarter. Bank of New York Mellon Corp now owns 971,938 shares of the transportation company's stock valued at $47,839,000 after purchasing an additional 79,099 shares during the period. Hedge funds and other institutional investors own 81.90% of the company's stock.

Insider Buying and Selling

In related news, EVP Andrew R. Harrison sold 7,600 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 18,930 shares of the company's stock, valued at approximately $1,007,454.60. The trade was a 28.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Shane R. Tackett sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $57.06, for a total value of $285,300.00. Following the completion of the transaction, the chief financial officer owned 43,335 shares of the company's stock, valued at approximately $2,472,695.10. This represents a 10.34% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,460 shares of company stock worth $1,182,553. Company insiders own 0.92% of the company's stock.

Alaska Air Group Trading Down 0.3%

ALK traded down $0.16 during trading on Tuesday, hitting $62.62. 2,526,742 shares of the company's stock were exchanged, compared to its average volume of 1,993,654. Alaska Air Group, Inc. has a 1 year low of $35.76 and a 1 year high of $78.08. The stock has a 50 day moving average price of $54.22 and a 200 day moving average price of $53.23. The firm has a market cap of $7.22 billion, a P/E ratio of 25.45, a price-to-earnings-growth ratio of 0.61 and a beta of 1.45. The company has a current ratio of 0.52, a quick ratio of 0.49 and a debt-to-equity ratio of 1.14.

Alaska Air Group (NYSE:ALK - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The transportation company reported $1.78 EPS 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 the consensus estimate of $3.65 billion. During the same quarter last year, the firm posted $2.55 EPS. The business's revenue for the quarter was up 27.9% compared to the same quarter last year. 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, analysts expect that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ALK shares. UBS Group increased their target price 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. Raymond James Financial raised shares of Alaska Air Group from a "market perform" rating to an "outperform" rating and set a $70.00 price objective for the company in a research note on Monday, August 25th. Barclays raised their target price on shares of Alaska Air Group from $55.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Susquehanna boosted their target price on shares of Alaska Air Group from $50.00 to $60.00 and gave the company a "positive" rating in a report on Tuesday, August 5th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $68.00.

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.