Man Group plc Makes New Investment in Alaska Air Group, Inc. $ALK

Key Points

• Man Group initiated a position in Alaska Air Group, buying 108,887 shares valued at approximately $5.7 million. Institutional investors collectively own 81.9% of the company, with BlackRock also establishing a sizable new stake.
• Alaska Air Group reported quarterly revenue of $4.07 billion, up 9.7% year over year, and an adjusted loss of $0.92 per share that beat analyst expectations. The company continues to post negative margins and analysts project a full-year loss.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and a $61.88 target price versus the stock’s recent $42.43 price. CEO Benito Minicucci also purchased 25,000 shares, while an executive vice president sold 5,300 shares.

Man Group plc bought a new position in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 108,887 shares of the transportation company's stock, valued at approximately $5,684,000. Man Group plc owned about 0.10% of Alaska Air Group at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. BlackRock Inc. purchased a new position in Alaska Air Group during the second quarter worth approximately $606,307,000. Vanguard Group Inc. grew its holdings in Alaska Air Group by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 11,059,404 shares of the transportation company's stock valued at $556,288,000 after buying an additional 110,628 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Alaska Air Group by 2.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,348,163 shares of the transportation company's stock valued at $233,463,000 after buying an additional 145,484 shares in the last quarter. Primecap Management Co. CA acquired a new stake in shares of Alaska Air Group in the 2nd quarter worth $168,467,000. Finally, Capital Research Global Investors increased its stake in shares of Alaska Air Group by 86.8% in the 4th quarter. Capital Research Global Investors now owns 3,175,350 shares of the transportation company's stock worth $159,720,000 after acquiring an additional 1,475,350 shares during the last quarter. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

Alaska Air Group Stock Performance

Shares of ALK stock opened at $42.43 on Friday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.51 and a current ratio of 0.55. The firm has a market cap of $4.73 billion, a P/E ratio of -27.03 and a beta of 1.29. The firm's 50 day moving average price is $47.44 and its 200-day moving average price is $44.95. Alaska Air Group, Inc. has a one year low of $33.03 and a one year high of $65.88.

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

Analyst Ratings Changes

ALK has been the subject of a number of analyst reports. Cantor Fitzgerald set a $46.00 price objective on shares of Alaska Air Group in a report on Monday, August 24th. Weiss Ratings downgraded shares of Alaska Air Group from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, August 18th. Susquehanna upped their price objective on Alaska Air Group from $50.00 to $70.00 and gave the company a "positive" rating in a report on Tuesday, July 7th. UBS Group reiterated a "buy" rating and issued a $62.00 price objective (up from $56.00) on shares of Alaska Air Group in a report on Tuesday, June 23rd. Finally, Wall Street Zen raised 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 issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.88.

Insider Buying and Selling at Alaska Air Group

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

Alaska Air Group Company Profile

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