Jacobs Levy Equity Management Inc. Buys New Shares in Alaska Air Group, Inc. $ALK

Key Points

• Jacobs Levy Equity Management Inc. has taken a new position in Alaska Air Group, purchasing 27,783 shares valued at approximately $1.37 million.
• A significant portion of Alaska Air Group's stock, 81.90%, is owned by hedge funds and institutional investors, with multiple stakeholders increasing their stakes recently.
• Alaska Air Group reported a 27.9% year-over-year revenue increase for the last quarter, surpassing estimates with a revenue of $3.70 billion and an EPS of $1.78.

Jacobs Levy Equity Management Inc. acquired a new stake in Alaska Air Group, Inc. (NYSE:ALK - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 27,783 shares of the transportation company's stock, valued at approximately $1,367,000.

Other large investors also recently made changes to their positions in the company. New Mexico Educational Retirement Board bought a new position in shares of Alaska Air Group in the first quarter valued at about $1,235,000. Cambridge Investment Research Advisors Inc. grew its position in shares of Alaska Air Group by 416.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 30,499 shares of the transportation company's stock worth $1,501,000 after buying an additional 24,592 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Alaska Air Group by 2.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,160 shares of the transportation company's stock worth $1,238,000 after acquiring an additional 713 shares during the period. KBC Group NV acquired a new stake in shares of Alaska Air Group during the first quarter worth $76,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Alaska Air Group by 8.9% in the 1st quarter. Bank of New York Mellon Corp now owns 971,938 shares of the transportation company's stock valued at $47,839,000 after acquiring an additional 79,099 shares during the last quarter. Institutional investors own 81.90% of the company's stock.

Wall Street Analyst Weigh In

ALK has been the subject of a number of recent analyst reports. Susquehanna upped their price objective on shares of Alaska Air Group from $50.00 to $60.00 and gave the company a "positive" rating in a research report on Tuesday, August 5th. UBS Group raised Alaska Air Group from a "neutral" rating to a "buy" rating and increased their target price for the stock from $56.00 to $90.00 in a research note on Friday, September 12th. Evercore ISI dropped their target price on shares of Alaska Air Group from $70.00 to $65.00 and set an "outperform" rating on the stock in a report on Tuesday. Raymond James Financial upgraded shares of Alaska Air Group from a "market perform" rating to an "outperform" rating and set a $70.00 price target for the company in a report on Monday, August 25th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Alaska Air Group from $73.00 to $96.00 and gave the stock an "overweight" rating in a research report on Friday, September 12th. Thirteen equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $71.92.

Insiders Place Their Bets

In related news, CFO Shane R. Tackett sold 5,000 shares of Alaska Air Group stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $57.06, for a total value of $285,300.00. Following the sale, the chief financial officer owned 43,335 shares of the company's stock, valued at approximately $2,472,695.10. The trade was a 10.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andrew R. Harrison sold 7,600 shares of the company's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $53.22, for a total value of $404,472.00. Following the sale, the executive vice president owned 18,930 shares in the company, valued at $1,007,454.60. The trade was a 28.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,514 shares of company stock valued at $1,031,306 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

Alaska Air Group Stock Up 1.6%

NYSE:ALK traded up $0.91 during trading hours on Wednesday, reaching $58.51. 2,608,784 shares of the stock were exchanged, compared to its average volume of 2,560,320. The stock has a market cap of $6.75 billion, a PE ratio of 23.78, a PEG ratio of 0.63 and a beta of 1.45. Alaska Air Group, Inc. has a twelve month low of $39.10 and a twelve month high of $78.08. The firm has a 50 day moving average of $56.82 and a 200 day moving average of $52.50. 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 (NYSE:ALK - Get Free Report) last posted 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 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 the consensus estimate of $3.65 billion. During the same period last year, the company earned $2.55 earnings per share. The firm's revenue 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. On average, equities analysts expect that Alaska Air Group, Inc. will post 6.03 earnings per share for the current 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.