LPL Financial LLC Sells 10,178 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Key Points

• LPL Financial LLC cut its stakes in Alaska Air Group, selling 10,178 shares for a 12% reduction, bringing its ownership to 74,504 shares valued at $3.67 million.
• Several institutional investors have increased their holdings in Alaska Air Group, including Perkins Coie Trust Co, which raised its stake by 125.7% in the first quarter.
• Analysts remain bullish on Alaska Air Group, with target price increases from firms like Barclays and Susquehanna, reflecting a consensus average target of $67.83.

LPL Financial LLC reduced its position in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 12.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 74,504 shares of the transportation company's stock after selling 10,178 shares during the period. LPL Financial LLC owned 0.06% of Alaska Air Group worth $3,667,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Perkins Coie Trust Co raised its stake in Alaska Air Group by 125.7% in the 1st quarter. Perkins Coie Trust Co now owns 677 shares of the transportation company's stock valued at $33,000 after acquiring an additional 377 shares during the period. Wood Tarver Financial Group LLC bought a new stake in Alaska Air Group in the 4th quarter valued at about $38,000. UMB Bank n.a. grew its holdings in Alaska Air Group by 459.1% during the 1st quarter. UMB Bank n.a. now owns 1,297 shares of the transportation company's stock valued at $64,000 after buying an additional 1,065 shares in the last quarter. KBC Group NV purchased a new position in Alaska Air Group during the 1st quarter valued at about $76,000. Finally, Fifth Third Bancorp grew its holdings in Alaska Air Group by 96.3% during the 1st quarter. Fifth Third Bancorp now owns 1,926 shares of the transportation company's stock valued at $95,000 after buying an additional 945 shares in the last quarter. 81.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ALK shares. Barclays lifted their target price on Alaska Air Group from $55.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Susquehanna lifted their target price on Alaska Air Group from $50.00 to $60.00 and gave the company a "positive" rating in a report on Tuesday, August 5th. UBS Group lifted their target price on Alaska Air Group from $49.00 to $56.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Finally, TD Cowen lifted their target price on Alaska Air Group from $54.00 to $62.00 and gave the company a "buy" rating in a report on Friday, April 25th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $67.83.

Alaska Air Group Stock Up 0.9%

Shares of NYSE ALK opened at $57.39 on Friday. Alaska Air Group, Inc. has a 12 month low of $34.44 and a 12 month high of $78.08. The company has a current ratio of 0.52, a quick ratio of 0.49 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 23.33, a PEG ratio of 0.55 and a beta of 1.45. The business has a 50-day moving average of $51.51 and a 200-day moving average of $54.56.

Alaska Air Group (NYSE:ALK - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $1.78 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $3.65 billion. During the same quarter in the previous year, the firm earned $2.55 earnings per share. Alaska Air Group's revenue was up 27.9% on a year-over-year basis. Sell-side analysts expect that Alaska Air Group, Inc. will post 6.03 earnings per share for the current fiscal year.

Insider Transactions at Alaska Air Group

In other Alaska Air Group news, CFO Shane R. Tackett sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $57.06, for a total value of $285,300.00. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrew R. Harrison sold 7,600 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $53.22, for a total value of $404,472.00. Following the completion of the sale, the executive vice president directly owned 18,930 shares of the company's stock, valued at approximately $1,007,454.60. This represents a 28.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,046 shares of company stock valued at $1,242,345. 1.00% of the stock is owned by corporate 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.

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