GAMMA Investing LLC Has $9.77 Million Holdings in Alaska Air Group, Inc. (NYSE:ALK)

GAMMA Investing LLC raised its stake in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 5,633.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. 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 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in Alaska Air Group by 3.3% in the fourth quarter. Wellington Management Group LLP now owns 602,941 shares of the transportation company's stock valued at $39,040,000 after buying an additional 19,225 shares in the last quarter. 111 Capital bought a new stake in shares of Alaska Air Group in the fourth quarter worth $811,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Alaska Air Group by 25.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 24,447 shares of the transportation company's stock worth $1,583,000 after purchasing an additional 5,003 shares in the last quarter. Wood Tarver Financial Group LLC bought a new stake in shares of Alaska Air Group in the fourth quarter worth $38,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Alaska Air Group in the fourth quarter worth $3,938,000. Institutional investors own 81.90% of the company's stock.

Alaska Air Group Stock Performance

Shares of NYSE:ALK traded down $2.40 on Wednesday, hitting $49.18. The company had a trading volume of 3,273,532 shares, compared to its average volume of 2,835,390. Alaska Air Group, Inc. has a 1-year low of $32.62 and a 1-year high of $78.08. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 0.43 and a beta of 1.44. The stock has a 50 day moving average price of $48.56 and a 200 day moving average price of $58.31. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04.

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

Insider Buying and Selling at Alaska Air Group

In related news, VP Emily Halverson sold 2,946 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $51.34, for a total value of $151,247.64. Following the transaction, the vice president now directly owns 8,253 shares in the company, valued at approximately $423,709.02. This represents a 26.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Andrew R. Harrison sold 7,500 shares of the company's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $53.51, for a total transaction of $401,325.00. Following the completion of the transaction, the executive vice president now owns 26,530 shares in the company, valued at $1,419,620.30. This trade represents a 22.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,479 shares of company stock worth $554,228 over the last ninety days. Insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

ALK has been the topic of a number of research reports. TD Cowen boosted their price objective on shares of Alaska Air Group from $54.00 to $62.00 and gave the stock a "buy" rating in a research report on Friday, April 25th. Citigroup cut their price objective on shares of Alaska Air Group from $83.00 to $81.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Bank of America cut their price objective on shares of Alaska Air Group from $80.00 to $70.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. UBS Group lowered shares of Alaska Air Group from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $75.00 to $54.00 in a research report on Monday, April 7th. Finally, Barclays dropped 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 analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.83.

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.