Public Employees Retirement System of Ohio Takes $2.84 Million Position in Alaska Air Group, Inc. (NYSE:ALK)

Public Employees Retirement System of Ohio purchased a new position in Alaska Air Group, Inc. (NYSE:ALK - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 43,876 shares of the transportation company's stock, valued at approximately $2,841,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Neo Ivy Capital Management bought a new position in shares of Alaska Air Group in the fourth quarter worth about $359,000. Castleark Management LLC purchased a new position in shares of Alaska Air Group in the 4th quarter valued at approximately $4,961,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Alaska Air Group by 12.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 187,305 shares of the transportation company's stock valued at $12,128,000 after purchasing an additional 21,326 shares during the last quarter. Voloridge Investment Management LLC raised its position in shares of Alaska Air Group by 22.1% in the 4th quarter. Voloridge Investment Management LLC now owns 973,956 shares of the transportation company's stock valued at $63,064,000 after purchasing an additional 176,576 shares during the last quarter. Finally, Vident Advisory LLC raised its position in shares of Alaska Air Group by 10.7% in the 4th quarter. Vident Advisory LLC now owns 5,817 shares of the transportation company's stock valued at $377,000 after purchasing an additional 562 shares during the last quarter. 81.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Alaska Air Group news, EVP Andrew R. Harrison sold 7,500 shares of Alaska Air Group stock in a transaction on Monday, May 19th. The shares were sold at an average price of $53.51, for a total transaction of $401,325.00. Following the sale, the executive vice president now owns 26,530 shares of the company's stock, valued at $1,419,620.30. The trade was a 22.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Alaska Air Group Price Performance

Alaska Air Group stock traded up $0.40 during trading on Wednesday, reaching $51.15. The company had a trading volume of 1,861,138 shares, compared to its average volume of 2,813,187. The firm's 50-day simple moving average is $48.25 and its 200 day simple moving average is $58.36. Alaska Air Group, Inc. has a 1-year low of $32.62 and a 1-year high of $78.08. The firm has a market capitalization of $6.28 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 0.43 and a beta of 1.41. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.61.

Alaska Air Group (NYSE:ALK - Get Free Report) last released its quarterly earnings results 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). Alaska Air Group had a net margin of 3.37% and a return on equity of 14.66%. The company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same period in the prior year, the business posted ($0.92) EPS. Alaska Air Group's revenue was up 40.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Alaska Air Group, Inc. will post 6.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Bank of America reduced their price target on shares of Alaska Air Group from $80.00 to $70.00 and set a "buy" rating for the company 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 for the company in a research report on Monday, April 7th. UBS Group lowered shares of Alaska Air Group from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $75.00 to $54.00 in a research report on Monday, April 7th. Citigroup reduced their price target on shares of Alaska Air Group from $83.00 to $81.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Finally, JPMorgan Chase & Co. raised their price target on shares of Alaska Air Group from $85.00 to $89.00 and gave the stock an "overweight" rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $66.83.

About Alaska Air Group

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.