Magnetar Financial LLC Buys New Holdings in Alaska Air Group, Inc. $ALK

Key Points

• Magnetar Financial LLC acquired a new stake in Alaska Air Group, Inc. during the first quarter, purchasing 79,964 shares valued at approximately $3.9 million, representing 0.07% of the company.
• Alaska Air Group reported an earnings per share (EPS) of $1.78 for the last quarter, exceeding analysts' expectations of $1.56, and revenue increased by 27.9% year-over-year.
• Recent analyst upgrades have raised the price targets for Alaska Air Group, with Raymond James setting a target of $70 and a consensus rating of "Moderate Buy" from twelve analysts.

Magnetar Financial LLC bought a new stake in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 79,964 shares of the transportation company's stock, valued at approximately $3,936,000. Magnetar Financial LLC owned 0.07% of Alaska Air Group at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ALK. Brooklyn Investment Group boosted its holdings in Alaska Air Group by 41.1% during the 1st quarter. Brooklyn Investment Group now owns 632 shares of the transportation company's stock valued at $31,000 after acquiring an additional 184 shares during the period. Perkins Coie Trust Co boosted its holdings in 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 acquiring an additional 377 shares during the period. Wood Tarver Financial Group LLC purchased a new stake in Alaska Air Group during the 4th quarter valued at about $38,000. UMB Bank n.a. boosted 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 acquiring an additional 1,065 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Alaska Air Group during the 1st quarter valued at about $71,000. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alaska Air Group

In related news, EVP Andrew R. Harrison sold 7,600 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $53.22, for a total transaction of $404,472.00. Following the sale, the executive vice president owned 18,930 shares in the company, valued at approximately $1,007,454.60. This represents a 28.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Kyle B. Levine sold 5,914 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $57.75, for a total value of $341,533.50. Following the sale, the senior vice president owned 20,917 shares in the company, valued at $1,207,956.75. The trade was a 22.04% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,514 shares of company stock worth $1,031,306. Company insiders own 0.92% of the company's stock.

Alaska Air Group Stock Performance

NYSE:ALK traded up $1.87 during mid-day trading on Thursday, reaching $64.37. The company's stock had a trading volume of 1,109,193 shares, compared to its average volume of 3,092,748. Alaska Air Group, Inc. has a 12-month low of $36.44 and a 12-month high of $78.08. The stock has a market cap of $7.42 billion, a P/E ratio of 26.24, a PEG ratio of 0.61 and a beta of 1.45. 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's fifty day moving average price is $54.50 and its two-hundred day moving average price is $53.30.

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. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.65 billion. Alaska Air Group had a return on equity of 12.62% and a net margin of 2.33%.The firm's revenue was up 27.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.55 EPS. 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 forecast that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ALK shares. Raymond James Financial upgraded Alaska Air Group from a "market perform" rating to an "outperform" rating and set a $70.00 target price for the company in a report on Monday, August 25th. UBS Group increased 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. Susquehanna upped their price target on Alaska Air Group from $50.00 to $60.00 and gave the company a "positive" rating in a research report on Tuesday, August 5th. Finally, Barclays upped their price target on Alaska Air Group from $55.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Alaska Air Group has a consensus rating of "Moderate Buy" and an average price target of $68.00.

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.