Alaska Air Group, Inc. $ALK Shares Bought by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. significantly increased its stake in Alaska Air Group by 249.1%, holding approximately 2.15% of the company valued at $129.87 million.
• Several institutional investors also boosted their positions, with Point72 Asset Management increasing its holdings by 134.0% and others by over 600% during the first quarter.
• Equity analysts have raised their price targets for Alaska Air Group, with a consensus target price of $68.00 and a recommendation to buy from twelve analysts.

Goldman Sachs Group Inc. lifted its position in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 249.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,638,464 shares of the transportation company's stock after buying an additional 1,882,598 shares during the quarter. Goldman Sachs Group Inc. owned approximately 2.15% of Alaska Air Group worth $129,865,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ALK. Brooklyn Investment Group grew its holdings in shares of Alaska Air Group by 41.1% during the first quarter. Brooklyn Investment Group now owns 632 shares of the transportation company's stock worth $31,000 after buying an additional 184 shares in the last quarter. Perkins Coie Trust Co grew its holdings in Alaska Air Group by 125.7% in the first quarter. Perkins Coie Trust Co now owns 677 shares of the transportation company's stock valued at $33,000 after purchasing an additional 377 shares during the period. Wood Tarver Financial Group LLC purchased a new stake in Alaska Air Group in the fourth quarter valued at approximately $38,000. UMB Bank n.a. grew its holdings in 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 purchasing an additional 1,065 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Alaska Air Group in the first quarter valued at approximately $71,000. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ALK. UBS Group upgraded shares of Alaska Air Group from a "neutral" rating to a "buy" rating and boosted their target price for the company from $56.00 to $90.00 in a report on Friday. 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. Raymond James Financial upgraded shares of Alaska Air Group from a "market perform" rating to an "outperform" rating and set a $70.00 target price for the company in a report on Monday, August 25th. JPMorgan Chase & Co. boosted their target price on shares of Alaska Air Group from $73.00 to $96.00 and gave the company an "overweight" rating in a report on Friday. Finally, 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 report on Thursday, July 10th. Thirteen equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Alaska Air Group has an average rating of "Buy" and a consensus target price of $71.15.

Insider Transactions at Alaska Air Group

In related news, CFO Shane R. Tackett sold 5,000 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $57.06, for a total value of $285,300.00. Following the sale, the chief financial officer directly owned 43,335 shares of the company's stock, valued at $2,472,695.10. This represents a 10.34% 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 7,600 shares of the company's stock in a transaction on Monday, July 28th. The shares were 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 in the company, 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 have sold 18,514 shares of company stock valued at $1,031,306. Corporate insiders own 1.00% of the company's stock.

Alaska Air Group Stock Down 0.7%

Shares of NYSE ALK traded down $0.46 during trading on Friday, reaching $63.40. 2,724,943 shares of the stock were exchanged, compared to its average volume of 2,227,651. The business's 50-day moving average price is $56.32 and its 200 day moving average price is $52.65. Alaska Air Group, Inc. has a twelve month low of $39.10 and a twelve month high of $78.08. 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 company has a market capitalization of $7.31 billion, a price-to-earnings ratio of 25.77, a price-to-earnings-growth ratio of 0.70 and a beta of 1.45.

Alaska Air Group (NYSE:ALK - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The transportation company reported $1.78 EPS for the quarter, topping 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 period in the previous year, the company posted $2.55 earnings per share. 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, equities analysts forecast that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

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.