Alaska Air Group, Inc. (NYSE:ALK) Position Cut by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund lessened its position in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 16.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,900 shares of the transportation company's stock after selling 4,916 shares during the period. Oregon Public Employees Retirement Fund's holdings in Alaska Air Group were worth $1,226,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System lifted its stake in shares of Alaska Air Group by 0.3% during the fourth quarter. Maryland State Retirement & Pension System now owns 49,905 shares of the transportation company's stock worth $3,231,000 after purchasing an additional 147 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in shares of Alaska Air Group by 1.3% in the fourth quarter. Mutual of America Capital Management LLC now owns 19,229 shares of the transportation company's stock worth $1,245,000 after acquiring an additional 254 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Alaska Air Group by 6.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 5,381 shares of the transportation company's stock worth $348,000 after acquiring an additional 332 shares in the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of Alaska Air Group by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 55,170 shares of the transportation company's stock worth $3,572,000 after acquiring an additional 340 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Alaska Air Group by 61.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company's stock worth $62,000 after acquiring an additional 364 shares in the last quarter. Hedge funds and other institutional investors own 81.90% of the company's stock.

Insider Buying and Selling

In related news, VP Emily Halverson sold 2,946 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $51.34, for a total value 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Andrew R. Harrison sold 7,500 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was 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 directly owned 26,530 shares of the company's stock, valued at $1,419,620.30. This trade represents a 22.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,479 shares of company stock valued at $554,228 over the last three months. Corporate insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

ALK has been the topic of several recent analyst reports. Citigroup cut their price target on Alaska Air Group from $83.00 to $81.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. Susquehanna cut their price target on Alaska Air Group from $95.00 to $55.00 and set a "positive" rating on the stock in a research note on Monday, April 7th. UBS Group cut Alaska Air Group from a "buy" rating to a "neutral" rating and cut their price target for the stock from $75.00 to $54.00 in a research note on Monday, April 7th. Barclays cut their price target on Alaska Air Group from $62.00 to $55.00 and set an "overweight" rating on the stock in a research note on Friday, April 25th. Finally, TD Cowen boosted their price target on Alaska Air Group from $54.00 to $62.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $66.83.

Alaska Air Group Stock Performance

Shares of NYSE:ALK traded up $0.13 during trading on Friday, hitting $51.01. 1,716,510 shares of the company traded hands, compared to its average volume of 2,902,947. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 0.53 and a beta of 1.41. The business's fifty day moving average is $49.95 and its 200-day moving average is $57.33. Alaska Air Group, Inc. has a one year low of $32.62 and a one year high of $78.08. The company has a quick ratio of 0.52, a current ratio of 0.56 and a debt-to-equity ratio of 1.05.

Alaska Air Group (NYSE:ALK - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The transportation company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.05). The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate 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 last year, the company posted ($0.92) earnings per share. As a group, equities analysts predict that Alaska Air Group, Inc. will post 6.03 earnings per share 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.