Invesco Ltd. Trims Holdings in Alaska Air Group, Inc. $ALK

Key Points

• Invesco Ltd. has reduced its stake in Alaska Air Group, Inc. (ALK) by 49.4%, now holding 348,213 shares valued at approximately $17.1 million.
• Several institutional investors have increased their positions in Alaska Air, with Atlas Capital Advisors Inc. raising its stake by 452.2% and Connor Clark & Lunn Investment Management Ltd. increasing theirs by 630.3%.
• Alaska Air Group reported a 27.9% increase in revenue year-over-year, with earnings per share (EPS) of $1.78 for the last quarter, exceeding expectations.

Invesco Ltd. lessened its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 49.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 348,213 shares of the transportation company's stock after selling 340,454 shares during the period. Invesco Ltd. owned 0.28% of Alaska Air Group worth $17,139,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Perkins Coie Trust Co boosted its holdings in shares of Alaska Air Group by 125.7% during the 1st quarter. Perkins Coie Trust Co now owns 677 shares of the transportation company's stock valued at $33,000 after buying an additional 377 shares in the last quarter. Wood Tarver Financial Group LLC bought a new position in shares of Alaska Air Group during the fourth quarter valued at $38,000. UMB Bank n.a. increased its holdings in shares of 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 acquiring an additional 1,065 shares in the last quarter. Headlands Technologies LLC purchased a new position in Alaska Air Group in the 1st quarter worth about $71,000. Finally, KBC Group NV purchased a new position in Alaska Air Group in the 1st quarter worth about $76,000. Institutional investors own 81.90% of the company's stock.

Alaska Air Group Stock Performance

Shares of NYSE:ALK traded up $0.52 during mid-day trading on Monday, reaching $60.02. 2,526,352 shares of the company traded hands, compared to its average volume of 3,140,113. The company's 50 day moving average price is $52.22 and its 200-day moving average price is $53.69. The firm has a market cap of $6.92 billion, a PE ratio of 24.40, a PEG ratio of 0.58 and a beta of 1.45. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.52 and a quick ratio of 0.49. Alaska Air Group, Inc. has a 52 week low of $35.07 and a 52 week high of $78.08.

Alaska Air Group (NYSE:ALK - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.56 by $0.22. Alaska Air Group had a return on equity of 12.62% and a net margin of 2.33%.The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the previous year, the company posted $2.55 EPS. The firm's revenue was up 27.9% on a year-over-year basis. Alaska Air Group has set its Q3 2025 guidance at 1.000-1.400 EPS. FY 2025 guidance at 3.250- EPS. On average, equities analysts expect that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, SVP Kyle B. Levine sold 5,914 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $57.75, for a total transaction of $341,533.50. Following the completion of the transaction, the senior vice president directly owned 20,917 shares in the company, valued at approximately $1,207,956.75. This represents a 22.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Shane R. Tackett sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer 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 disclosure for this sale can be found here. Insiders sold a total of 21,460 shares of company stock valued at $1,182,553 in the last 90 days. 1.00% of the stock is currently owned by company insiders.

Alaska Air Group 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.