GAMMA Investing LLC Acquires 195,042 Shares of Alaska Air Group, Inc. (NYSE:ALK)

GAMMA Investing LLC grew its stake in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 5,633.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 198,504 shares of the transportation company's stock after buying an additional 195,042 shares during the quarter. GAMMA Investing LLC owned about 0.16% of Alaska Air Group worth $9,770,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in ALK. Vanguard Group Inc. raised its holdings in Alaska Air Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 13,651,876 shares of the transportation company's stock worth $883,959,000 after purchasing an additional 56,409 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of 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 purchasing an additional 56,740 shares during the period. FMR LLC increased its position in shares of Alaska Air Group by 328.7% during the 4th quarter. FMR LLC now owns 4,649,388 shares of the transportation company's stock valued at $301,048,000 after purchasing an additional 3,564,749 shares during the period. Boston Partners raised its stake in shares of Alaska Air Group by 6.9% in the 4th quarter. Boston Partners now owns 3,460,959 shares of the transportation company's stock worth $224,121,000 after buying an additional 222,780 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Alaska Air Group by 134.0% in the fourth quarter. Point72 Asset Management L.P. now owns 2,134,221 shares of the transportation company's stock valued at $138,191,000 after buying an additional 1,222,277 shares during the period. 81.90% of the stock is owned by institutional investors and hedge funds.

Alaska Air Group Trading Down 1.5%

Shares of ALK stock traded down $0.78 during trading hours on Monday, reaching $51.72. 2,085,963 shares of the stock traded hands, compared to its average volume of 2,826,611. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $6.35 billion, a PE ratio of 16.96, a PEG ratio of 0.43 and a beta of 1.44. Alaska Air Group, Inc. has a 1-year low of $32.62 and a 1-year high of $78.08. The business has a fifty day moving average price of $48.34 and a 200 day moving average price of $58.42.

Alaska Air Group (NYSE:ALK - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The transportation company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.05). The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.19 billion. Alaska Air Group had a net margin of 3.37% and a return on equity of 14.66%. Alaska Air Group's revenue for the quarter was up 40.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.92) earnings per share. On average, equities research analysts forecast that Alaska Air Group, Inc. will post 6.03 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Andrew R. Harrison sold 7,500 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $53.51, for a total transaction of $401,325.00. Following the completion of the sale, the executive vice president now directly owns 26,530 shares in the company, valued at approximately $1,419,620.30. This trade represents a 22.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 sale, the vice president now directly owns 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 10,479 shares of company stock worth $554,228. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on ALK shares. TD Cowen lifted their target price on Alaska Air Group from $54.00 to $62.00 and gave the stock a "buy" rating in a report on Friday, April 25th. JPMorgan Chase & Co. raised their price objective on shares of Alaska Air Group from $85.00 to $89.00 and gave the company an "overweight" rating in a research report on Monday, March 3rd. Bank of America dropped their target price on shares of Alaska Air Group from $80.00 to $70.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. UBS Group lowered shares of Alaska Air Group from a "buy" rating to a "neutral" rating and cut their target price for the company from $75.00 to $54.00 in a research note on Monday, April 7th. Finally, Barclays decreased their price target on shares of Alaska Air Group from $62.00 to $55.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $66.83.

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.