Mutual of America Capital Management LLC Increases Stake in Alaska Air Group, Inc. (NYSE:ALK)

Mutual of America Capital Management LLC raised its holdings in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 229.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,346 shares of the transportation company's stock after purchasing an additional 44,117 shares during the period. Mutual of America Capital Management LLC owned 0.05% of Alaska Air Group worth $3,118,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Xponance Inc. grew its stake in Alaska Air Group by 148.1% during the first quarter. Xponance Inc. now owns 14,665 shares of the transportation company's stock valued at $722,000 after acquiring an additional 8,755 shares in the last quarter. State of Michigan Retirement System purchased a new position in Alaska Air Group in the 1st quarter worth approximately $1,452,000. Cerity Partners LLC grew its stake in Alaska Air Group by 22.1% in the 1st quarter. Cerity Partners LLC now owns 62,052 shares of the transportation company's stock worth $3,054,000 after buying an additional 11,243 shares in the last quarter. Allworth Financial LP grew its stake in Alaska Air Group by 17.7% in the 1st quarter. Allworth Financial LP now owns 4,797 shares of the transportation company's stock worth $236,000 after buying an additional 721 shares in the last quarter. Finally, tru Independence LLC grew its stake in Alaska Air Group by 2.1% in the 1st quarter. tru Independence LLC now owns 99,650 shares of the transportation company's stock worth $4,905,000 after buying an additional 2,065 shares in the last quarter. Hedge funds and other institutional investors own 81.90% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ALK. Bank of America lowered 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 report on Thursday, April 3rd. UBS Group began coverage on shares of Alaska Air Group in a report on Monday, July 7th. They issued a "neutral" rating and a $49.00 price objective for the company. TD Cowen boosted their price objective on shares of Alaska Air Group from $54.00 to $62.00 and gave the stock a "buy" rating in a report on Friday, April 25th. Susquehanna lowered their price target on shares of Alaska Air Group from $95.00 to $55.00 and set a "positive" rating for the company in a report on Monday, April 7th. Finally, Barclays upped their price target on shares of Alaska Air Group from $55.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $66.83.

Alaska Air Group Trading Down 0.0%

Alaska Air Group stock traded down $0.02 during mid-day trading on Friday, reaching $53.10. 2,616,075 shares of the company traded hands, compared to its average volume of 2,907,566. 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's 50 day moving average price is $50.81 and its 200 day moving average price is $56.49. The firm has a market capitalization 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. Alaska Air Group, Inc. has a 52-week low of $32.62 and a 52-week high of $78.08.

Alaska Air Group (NYSE:ALK - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The transportation company reported ($0.77) earnings per share (EPS) 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 net margin of 2.86% and a return on equity of 15.01%. The firm's revenue for the quarter was up 40.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.92) earnings per share. On average, analysts anticipate that Alaska Air Group, Inc. will post 6.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Emily Halverson sold 2,946 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $51.34, for a total value of $151,247.64. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrew R. Harrison sold 7,500 shares of the company's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $53.51, for a total transaction of $401,325.00. Following the completion of the sale, the executive vice president directly owned 26,530 shares in the company, valued at $1,419,620.30. This represents a 22.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,479 shares of company stock worth $554,228. Insiders own 1.00% of the company's stock.

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.