Alaska Air Group, Inc. (NYSE:ALK) Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its stake in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 20.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,910,364 shares of the transportation company's stock after purchasing an additional 321,505 shares during the period. Massachusetts Financial Services Co. MA owned 1.56% of Alaska Air Group worth $94,028,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of ALK. FMR LLC raised its position in shares of Alaska Air Group by 328.7% during the 4th quarter. FMR LLC now owns 4,649,388 shares of the transportation company's stock worth $301,048,000 after purchasing an additional 3,564,749 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Alaska Air Group by 134.0% during the 4th quarter. Point72 Asset Management L.P. now owns 2,134,221 shares of the transportation company's stock worth $138,191,000 after purchasing an additional 1,222,277 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in shares of Alaska Air Group by 4,615.3% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 943,064 shares of the transportation company's stock worth $61,063,000 after purchasing an additional 923,064 shares during the last quarter. Candlestick Capital Management LP purchased a new stake in Alaska Air Group during the 4th quarter valued at about $51,306,000. Finally, Interval Partners LP purchased a new stake in Alaska Air Group during the 4th quarter valued at about $50,507,000. Institutional investors and hedge funds own 81.90% of the company's stock.

Insider Activity at Alaska Air Group

In other Alaska Air Group news, EVP Andrew R. Harrison sold 7,500 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $53.51, for a total value of $401,325.00. Following the completion of the transaction, the executive vice president owned 26,530 shares of the company's stock, valued at $1,419,620.30. This trade represents a 22.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Emily Halverson sold 2,946 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $51.34, for a total transaction of $151,247.64. Following the completion of the transaction, the vice president directly owned 8,253 shares of the company's stock, valued at $423,709.02. This represents a 26.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,479 shares of company stock valued at $554,228 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

Alaska Air Group Trading Down 0.0%

Shares of NYSE:ALK traded down $0.02 during mid-day trading on Friday, reaching $53.10. 2,590,905 shares of the company were exchanged, compared to its average volume of 2,918,015. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.56 and a quick ratio of 0.52. The firm has a market cap of $6.52 billion, a price-to-earnings ratio of 19.31, a P/E/G ratio of 0.55 and a beta of 1.41. The firm's 50-day simple moving average is $50.81 and its 200 day simple moving average is $56.49. Alaska Air Group, Inc. has a 1 year low of $32.62 and a 1 year high of $78.08.

Alaska Air Group (NYSE:ALK - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The transportation company reported ($0.77) earnings per share for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.05). The company had revenue of $3.14 billion for the quarter, compared to analysts' expectations of $3.19 billion. Alaska Air Group had a return on equity of 15.01% and a net margin of 2.86%. The business's revenue for the quarter was up 40.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.92) EPS. Equities research analysts forecast that Alaska Air Group, Inc. will post 6.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ALK. Barclays upped their price objective on shares of Alaska Air Group from $55.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Susquehanna dropped their price objective on shares of Alaska Air Group from $95.00 to $55.00 and set a "positive" rating for the company in a research note on Monday, April 7th. TD Cowen upped their price objective on shares of Alaska Air Group from $54.00 to $62.00 and gave the company a "buy" rating in a research note on Friday, April 25th. UBS Group began coverage on shares of Alaska Air Group in a research note on Monday, July 7th. They set a "neutral" rating and a $49.00 price objective for the company. Finally, Bank of America dropped their price objective on shares of Alaska Air Group from $80.00 to $70.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy 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 $66.83.

About Alaska Air Group

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.