Legal & General Group Plc Purchases Shares of 91,938 Alaska Air Group, Inc. $ALK

Key Points

• Legal & General Group purchased 91,938 Alaska Air Group shares worth approximately $4.8 million, giving it a 0.08% stake. Institutional investors collectively own 81.9% of the company.
• Insider activity was mixed: CEO Benito Minicucci bought 25,000 shares for about $1.0 million, while EVP Andrew Harrison sold 5,300 shares for approximately $263,000.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $61.88. Alaska Air reported a quarterly loss of $0.92 per share, though revenue rose 9.7% year over year to $4.07 billion.

Legal & General Group Plc purchased a new position in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 91,938 shares of the transportation company's stock, valued at approximately $4,799,000. Legal & General Group Plc owned 0.08% of Alaska Air Group at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Atlas Capital Advisors Inc. bought a new stake in shares of Alaska Air Group during the 4th quarter valued at about $26,000. First Command Advisory Services Inc. lifted its stake in Alaska Air Group by 242.5% in the fourth quarter. First Command Advisory Services Inc. now owns 685 shares of the transportation company's stock valued at $34,000 after buying an additional 485 shares during the period. Compound Global Advisors LLC bought a new position in shares of Alaska Air Group during the 2nd quarter worth approximately $39,000. Cedar Mountain Advisors LLC boosted its holdings in shares of Alaska Air Group by 963.3% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 840 shares of the transportation company's stock worth $44,000 after buying an additional 761 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its position in shares of Alaska Air Group by 30.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 910 shares of the transportation company's stock worth $46,000 after buying an additional 212 shares during the period. 81.90% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Andrew Harrison sold 5,300 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $49.67, for a total value of $263,251.00. Following the sale, the executive vice president owned 25,528 shares in the company, valued at $1,267,975.76. This represents a 17.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Benito Minicucci purchased 25,000 shares of the company's stock in a transaction that occurred on Thursday, August 20th. The stock was acquired at an average cost of $40.06 per share, for a total transaction of $1,001,500.00. Following the transaction, the chief executive officer owned 256,582 shares in the company, valued at $10,278,674.92. This represents a 10.80% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.00% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on ALK shares. Cantor Fitzgerald set a $46.00 price objective on shares of Alaska Air Group in a research note on Monday, August 24th. BMO Capital Markets raised their price target on shares of Alaska Air Group from $55.00 to $62.50 and gave the stock an "outperform" rating in a report on Thursday, July 2nd. TD Cowen reaffirmed a "buy" rating and issued a $46.00 price target (down from $59.00) on shares of Alaska Air Group in a research note on Monday, August 24th. Bank of America increased their price objective on shares of Alaska Air Group from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, July 1st. Finally, Wall Street Zen upgraded Alaska Air Group from a "strong sell" rating to a "sell" rating in a research note on Thursday, August 13th. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Alaska Air Group presently has a consensus rating of "Moderate Buy" and an average price target of $61.88.

Alaska Air Group Price Performance

Shares of ALK opened at $41.39 on Friday. The business's fifty day moving average is $46.68 and its 200 day moving average is $44.40. Alaska Air Group, Inc. has a 12-month low of $33.03 and a 12-month high of $65.88. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 1.58. The stock has a market cap of $4.61 billion, a P/E ratio of -26.36 and a beta of 1.28.

Alaska Air Group (NYSE:ALK - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The transportation company reported ($0.92) EPS for the quarter, beating analysts' consensus estimates of ($0.99) by $0.07. Alaska Air Group had a negative net margin of 1.19% and a negative return on equity of 3.11%. The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same quarter in the previous year, the business posted $1.42 EPS. Alaska Air Group's quarterly revenue was up 9.7% on a year-over-year basis. Alaska Air Group has set its Q3 2026 guidance at 0.000-1.000 EPS. Sell-side analysts anticipate that Alaska Air Group, Inc. will post -1.76 earnings per share for the current fiscal year.

About Alaska Air Group

Alaska Air Group is a publicly traded holding company headquartered in Seattle, Washington, that operates two main airlines—Alaska Airlines and Horizon Air. Through these carriers, the company offers scheduled passenger and cargo services across a network spanning the United States, Canada and Mexico. Its core business activities include domestic and international air transportation, loyalty program management under the Mileage Plan brand, and ancillary revenue streams such as baggage fees, in-flight sales and code-share partnerships with other global airlines.

The roots of Alaska Air Group trace back to the foundation of its flagship carrier, Alaska Airlines, in 1932.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source