5,465 Shares in Alaska Air Group, Inc. (NYSE:ALK) Purchased by Navellier & Associates Inc.

Key Points

• Navellier & Associates Inc. has invested $266,000 in Alaska Air Group, purchasing 5,465 shares during the first quarter, indicating confidence in the company's prospects.
• Institutional investors hold a significant stake in Alaska Air Group, owning approximately 81.90% of the company's stock, highlighting strong institutional interest.
• Alaska Air Group's recent quarterly earnings report showed a beat on EPS estimates, with revenue increasing 27.9% year-over-year, signaling positive financial performance.

Navellier & Associates Inc. acquired a new stake in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,465 shares of the transportation company's stock, valued at approximately $266,000.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in Alaska Air Group by 2,046.4% in the 4th quarter. Brighton Jones LLC now owns 96,932 shares of the transportation company's stock worth $6,276,000 after buying an additional 92,416 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in Alaska Air Group in the 4th quarter worth $357,000. KLP Kapitalforvaltning AS acquired a new position in Alaska Air Group in the 4th quarter worth $434,000. Vanguard Group Inc. lifted its holdings in Alaska Air Group by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 13,651,876 shares of the transportation company's stock worth $883,959,000 after buying an additional 56,409 shares in the last quarter. Finally, Norges Bank acquired a new position in Alaska Air Group in the 4th quarter worth $19,847,000. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on ALK shares. 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. Bank of America reduced their price target on shares of Alaska Air Group from $80.00 to $70.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Susquehanna reduced their price target on shares of Alaska Air Group from $95.00 to $55.00 and set a "positive" rating on the stock in a research report on Monday, April 7th. UBS Group increased their price target on shares of Alaska Air Group from $49.00 to $56.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Finally, Barclays boosted 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 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $67.42.

Insider Buying and Selling at Alaska Air Group

In other Alaska Air Group news, EVP Andrew R. Harrison sold 7,600 shares of the business's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $53.22, for a total value of $404,472.00. Following the completion of the transaction, the executive vice president directly owned 18,930 shares of the company's stock, valued at approximately $1,007,454.60. The trade was a 28.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Emily Halverson sold 2,946 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was 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 approximately $423,709.02. This represents a 26.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,079 shares of company stock worth $958,700 over the last 90 days. Company insiders own 0.92% of the company's stock.

Alaska Air Group Price Performance

NYSE:ALK traded down $0.69 during trading hours on Wednesday, reaching $53.46. 393,056 shares of the company's stock were exchanged, compared to its average volume of 3,258,029. The company has a market capitalization of $6.56 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 0.59 and a beta of 1.41. Alaska Air Group, Inc. has a 12 month low of $32.62 and a 12 month high of $78.08. The company has a quick ratio of 0.49, a current ratio of 0.52 and a debt-to-equity ratio of 1.14. The business's 50-day simple moving average is $50.75 and its two-hundred day simple moving average is $55.74.

Alaska Air Group (NYSE:ALK - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.56 by $0.22. Alaska Air Group had a net margin of 2.33% and a return on equity of 12.62%. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the prior year, the firm earned $2.55 EPS. The firm's quarterly revenue was up 27.9% on a year-over-year basis. Sell-side analysts expect that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

Alaska Air Group 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.