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

Oregon Public Employees Retirement Fund reduced its stake in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 16.5% in the 1st quarter, according to its most recent disclosure 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 quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Alaska Air Group by 416.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 30,499 shares of the transportation company's stock worth $1,501,000 after buying an additional 24,592 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Alaska Air Group by 2.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,160 shares of the transportation company's stock worth $1,238,000 after purchasing an additional 713 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Alaska Air Group by 16.5% during the first quarter. GAMMA Investing LLC now owns 4,033 shares of the transportation company's stock worth $199,000 after purchasing an additional 571 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Alaska Air Group during the fourth quarter worth $52,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of Alaska Air Group by 28.8% during the first quarter. Farther Finance Advisors LLC now owns 5,643 shares of the transportation company's stock worth $277,000 after purchasing an additional 1,261 shares during the last quarter. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alaska Air Group

In other news, VP Emily Halverson sold 2,946 shares of the company'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 value of $151,247.64. Following the transaction, the vice president directly owned 8,253 shares in the company, valued at approximately $423,709.02. This represents a 26.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Andrew R. Harrison sold 7,500 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $53.51, for a total transaction of $401,325.00. Following the sale, the executive vice president directly owned 26,530 shares in the company, valued at approximately $1,419,620.30. The trade was a 22.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,479 shares of company stock worth $554,228. Company insiders own 0.92% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Susquehanna reduced their target price 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. Citigroup lowered their price target on Alaska Air Group from $83.00 to $81.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Bank of America lowered their price target on 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. TD Cowen boosted their target price on shares of Alaska Air Group from $54.00 to $62.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Finally, UBS Group began coverage on shares of Alaska Air Group in a research note on Monday. They set a "neutral" rating and a $49.00 target price for the company. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $66.42.

Alaska Air Group Trading Down 0.8%

NYSE:ALK traded down $0.40 on Monday, hitting $50.65. The stock had a trading volume of 3,090,009 shares, compared to its average volume of 2,903,696. The company has a quick ratio of 0.52, a current ratio of 0.56 and a debt-to-equity ratio of 1.05. The stock has a market cap of $6.22 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 0.53 and a beta of 1.41. The company has a fifty day moving average price of $49.95 and a two-hundred day moving average price of $57.27. 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 issued its quarterly earnings data on Wednesday, April 23rd. The transportation company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.05). Alaska Air Group had a return on equity of 15.01% and a net margin of 2.86%. The company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same quarter in the prior year, the company posted ($0.92) earnings per share. The business's revenue was up 40.5% compared to the same quarter last year. Equities research analysts expect 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.