Maxi Investments CY Ltd Makes New $1.20 Million Investment in Alaska Air Group, Inc. $ALK

Key Points

• Maxi Investments CY Ltd bought 31,000 Alaska Air Group shares worth approximately $1.20 million in the third quarter. Institutional investors collectively own 81.90% of the company.
• Analyst sentiment remains mixed: ten analysts rate the stock a Buy and three rate it a Sell, resulting in a consensus “Moderate Buy” rating and an average price target of $53.23.
• Alaska Air Group reported quarterly EPS of $0.36, missing estimates of $0.39, while revenue rose 14.4% year over year to $4.31 billion. The stock opened at $34.93 and has traded between $32.33 and $60.63 over the past year.

Maxi Investments CY Ltd purchased a new position in Alaska Air Group, Inc. (NYSE:ALK - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 31,000 shares of the transportation company's stock, valued at approximately $1,200,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund boosted its position in shares of Alaska Air Group by 1.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,499 shares of the transportation company's stock worth $864,000 after purchasing an additional 300 shares in the last quarter. Aspire Capital Advisors LLC grew its stake in shares of Alaska Air Group by 4.2% in the 2nd quarter. Aspire Capital Advisors LLC now owns 9,397 shares of the transportation company's stock valued at $491,000 after buying an additional 375 shares during the period. Parallel Advisors LLC grew its stake in shares of Alaska Air Group by 32.5% in the 1st quarter. Parallel Advisors LLC now owns 1,570 shares of the transportation company's stock valued at $58,000 after buying an additional 385 shares during the period. Waverly Advisors LLC grew its stake in shares of Alaska Air Group by 7.4% in the 2nd quarter. Waverly Advisors LLC now owns 8,145 shares of the transportation company's stock valued at $425,000 after buying an additional 558 shares during the period. Finally, Fortitude Family Office LLC increased its position in Alaska Air Group by 323.5% in the 3rd quarter. Fortitude Family Office LLC now owns 775 shares of the transportation company's stock valued at $30,000 after buying an additional 592 shares in the last quarter. 81.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ALK shares. UBS Group reaffirmed a "buy" rating and set a $51.00 price target (down from $54.00) on shares of Alaska Air Group in a research note on Friday, October 16th. Wall Street Zen cut Alaska Air Group from a "sell" rating to a "strong sell" rating in a research note on Monday, October 5th. Raymond James Financial reissued an "outperform" rating on shares of Alaska Air Group in a research note on Friday, September 25th. Zacks Research downgraded Alaska Air Group from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 21st. Finally, Citigroup reaffirmed a "sell" rating and set a $33.00 target price (down from $37.00) on shares of Alaska Air Group in a research report on Thursday. Ten research analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Alaska Air Group currently has an average rating of "Moderate Buy" and an average target price of $53.23.

Insider Activity

In other Alaska Air Group news, EVP Andrew R. Harrison sold 5,300 shares of the 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 completion of the sale, the executive vice president owned 25,528 shares in the company, valued at approximately $1,267,975.76. This trade represents a 17.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Benito Minicucci bought 25,000 shares of the company's stock in a transaction on Thursday, August 20th. The shares were purchased 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 approximately $10,278,674.92. This represents a 10.80% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.00% of the stock is currently owned by insiders.

Alaska Air Group Stock Performance

Shares of ALK opened at $34.93 on Tuesday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.42 and a current ratio of 0.46. The stock has a 50 day moving average price of $39.61 and a two-hundred day moving average price of $44.39. The firm has a market capitalization of $3.89 billion, a P/E ratio of -9.95 and a beta of 1.33. Alaska Air Group, Inc. has a 52 week low of $32.33 and a 52 week high of $60.63.

Alaska Air Group (NYSE:ALK - Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The transportation company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03). Alaska Air Group had a negative return on equity of 5.42% and a negative net margin of 2.58%. The company had revenue of $4.31 billion during the quarter, compared to analysts' expectations of $4.31 billion. During the same period last year, the company earned $1.05 earnings per share. The business's revenue for the quarter was up 14.4% compared to the same quarter last year. Equities analysts forecast that Alaska Air Group, Inc. will post -3.82 earnings per share for the current fiscal year.

Alaska Air Group Company Profile

Alaska Air Group, Inc is an airline holding company headquartered in Seattle, Washington. Its principal subsidiaries include Alaska Airlines and Hawaiian Airlines, which operate under separate brands while serving passengers throughout North America, the Pacific and other international markets.

Alaska Airlines provides scheduled passenger and air cargo services across the United States, Canada, Mexico, Costa Rica and the Bahamas, with a strong presence on the U.S. West Coast and in Alaska.

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