Primecap Management Co. CA Has $187.17 Million Stake in Alaska Air Group, Inc. (NYSE:ALK)

Key Points

• Primecap Management Co. CA has reduced its stake in Alaska Air Group by 0.5%, now holding approximately 3.10% of the company with a total value of $187.17 million.
• Institutional investors control 81.90% of Alaska Air Group's stock, with several hedge funds recently adjusting their positions in the company.
• Alaska Air Group reported strong earnings with a 27.9% year-over-year revenue increase, achieving $1.78 EPS that exceeded analysts' expectations.

Primecap Management Co. CA reduced its stake in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 0.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,802,750 shares of the transportation company's stock after selling 18,700 shares during the period. Primecap Management Co. CA owned about 3.10% of Alaska Air Group worth $187,171,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. US Bancorp DE raised its holdings in Alaska Air Group by 1.0% in the 1st quarter. US Bancorp DE now owns 21,982 shares of the transportation company's stock valued at $1,082,000 after buying an additional 210 shares during the last quarter. Valeo Financial Advisors LLC increased its stake in shares of Alaska Air Group by 3.4% in the 1st quarter. Valeo Financial Advisors LLC now owns 7,821 shares of the transportation company's stock valued at $385,000 after acquiring an additional 256 shares in the last quarter. Meeder Asset Management Inc. increased its stake in Alaska Air Group by 0.8% during the 1st quarter. Meeder Asset Management Inc. now owns 43,865 shares of the transportation company's stock valued at $2,159,000 after purchasing an additional 339 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in Alaska Air Group by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 55,170 shares of the transportation company's stock valued at $3,572,000 after purchasing an additional 340 shares in the last quarter. Finally, Hancock Whitney Corp increased its stake in Alaska Air Group by 5.8% during the 4th quarter. Hancock Whitney Corp now owns 6,848 shares of the transportation company's stock valued at $443,000 after purchasing an additional 376 shares in the last quarter. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alaska Air Group news, VP Emily Halverson sold 2,946 shares of the stock in a transaction 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 sale, the vice president owned 8,253 shares in the company, valued at $423,709.02. This trade represents a 26.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Andrew R. Harrison sold 7,600 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $53.22, for a total value of $404,472.00. Following the transaction, the executive vice president directly owned 18,930 shares in the company, valued at $1,007,454.60. The trade was a 28.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,046 shares of company stock worth $957,045. Insiders own 0.92% of the company's stock.

Wall Street Analysts Forecast Growth

ALK has been the subject of several recent analyst reports. Barclays upped their target price on shares of Alaska Air Group from $55.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. TD Cowen increased their price target 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 increased their price target on shares of Alaska Air Group from $50.00 to $60.00 and gave the stock a "positive" rating in a report on Tuesday. Finally, UBS Group raised their target price on shares of Alaska Air Group from $49.00 to $56.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.83.

Alaska Air Group Trading Up 1.1%

Shares of NYSE:ALK opened at $53.16 on Wednesday. The stock has a 50 day moving average of $50.94 and a 200 day moving average of $55.24. The company has a market cap of $6.53 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 0.58 and a beta of 1.45. The company has a current ratio of 0.52, a quick ratio of 0.49 and a debt-to-equity ratio of 1.14. Alaska Air Group, Inc. has a 12-month low of $32.62 and a 12-month high of $78.08.

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

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