Heartland Advisors Inc. Sells 9,060 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Key Points

• Heartland Advisors Inc. has reduced its stake in Alaska Air Group, Inc. by 8.4%, bringing its holdings to 99,040 shares valued at approximately $4.88 million.
• Other institutional investors have significantly increased their positions in Alaska Air Group, with one firm boosting its stake by 459.1% during the same quarter.
• Analysts have mixed forecasts for Alaska Air Group, with price target revisions ranging from $49.00 to $80.00, while the consensus rating is currently a "Moderate Buy."

Heartland Advisors Inc. decreased its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 8.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,040 shares of the transportation company's stock after selling 9,060 shares during the quarter. Heartland Advisors Inc. owned about 0.08% of Alaska Air Group worth $4,875,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Perkins Coie Trust Co raised its stake in Alaska Air Group by 125.7% during 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 in the last quarter. Wood Tarver Financial Group LLC purchased a new stake in Alaska Air Group during the fourth quarter valued at $38,000. UMB Bank n.a. raised its stake in Alaska Air Group by 459.1% during 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 in the last quarter. KBC Group NV purchased a new stake in Alaska Air Group during the first quarter valued at $76,000. Finally, Fifth Third Bancorp raised its stake in Alaska Air Group by 96.3% during the first quarter. Fifth Third Bancorp now owns 1,926 shares of the transportation company's stock valued at $95,000 after purchasing an additional 945 shares in the last quarter. Hedge funds and other institutional investors own 81.90% of the company's stock.

Insider Activity

In other Alaska Air Group news, EVP Andrew R. Harrison sold 7,600 shares of the stock in a transaction dated Monday, July 28th. The shares were 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 in the company, valued at $1,007,454.60. This represents a 28.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Emily Halverson sold 2,946 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $51.34, for a total transaction of $151,247.64. Following the transaction, the vice president owned 8,253 shares in the company, valued at approximately $423,709.02. The trade was a 26.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,079 shares of company stock worth $958,700. 0.92% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ALK. Bank of America decreased their price target on shares of Alaska Air Group from $80.00 to $70.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. TD Cowen increased their target price on shares of Alaska Air Group from $54.00 to $62.00 and gave the company a "buy" rating in a research note on Friday, April 25th. UBS Group increased their target price on shares of Alaska Air Group from $49.00 to $56.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Barclays increased 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. Finally, Susquehanna reduced their target price on shares of Alaska Air Group from $95.00 to $55.00 and set a "positive" rating on the stock in a research note on Monday, April 7th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $67.42.

Alaska Air Group Stock Up 0.1%

Alaska Air Group stock traded up $0.06 during midday trading on Wednesday, hitting $54.21. 613,333 shares of the company's stock were exchanged, compared to its average volume of 3,259,483. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.49 and a current ratio of 0.52. Alaska Air Group, Inc. has a 12 month low of $32.62 and a 12 month high of $78.08. The firm has a 50-day moving average of $50.75 and a two-hundred day moving average of $55.74. The company has a market cap of $6.65 billion, a PE ratio of 22.04, a P/E/G ratio of 0.59 and a beta of 1.41.

Alaska Air Group (NYSE:ALK - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The transportation company reported $1.78 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.70 billion for the quarter, compared to analysts' expectations of $3.65 billion. During the same period in the prior year, the business earned $2.55 EPS. The firm's quarterly revenue was up 27.9% on a year-over-year basis. As a group, analysts expect that Alaska Air Group, Inc. will post 6.03 earnings per share for the current fiscal year.

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.