Public Employees Retirement System of Ohio Buys Shares of 43,876 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) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 43,876 shares of the transportation company's stock, valued at approximately $2,841,000.

Several other institutional investors have also made changes to their positions in ALK. SBI Securities Co. Ltd. bought a new stake in Alaska Air Group in the fourth quarter worth approximately $52,000. EverSource Wealth Advisors LLC increased its position in Alaska Air Group by 61.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company's stock worth $62,000 after buying an additional 364 shares during the last quarter. Millstone Evans Group LLC bought a new position in Alaska Air Group during the fourth quarter valued at about $76,000. Smartleaf Asset Management LLC lifted its position in shares of Alaska Air Group by 97.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,623 shares of the transportation company's stock worth $105,000 after buying an additional 803 shares during the last quarter. Finally, Atlas Capital Advisors Inc. boosted its stake in shares of Alaska Air Group by 16,092.3% during the 4th quarter. Atlas Capital Advisors Inc. now owns 2,105 shares of the transportation company's stock worth $136,000 after acquiring an additional 2,092 shares in the last quarter. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on ALK shares. UBS Group lowered shares of Alaska Air Group from a "buy" rating to a "neutral" rating and lowered their target price for the company from $75.00 to $54.00 in a research note on Monday, April 7th. TD Cowen boosted their price objective on Alaska Air Group from $54.00 to $62.00 and gave the stock a "buy" rating in a research report on Friday, April 25th. Barclays dropped their price target on Alaska Air Group from $62.00 to $55.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. JPMorgan Chase & Co. increased their price objective on Alaska Air Group from $85.00 to $89.00 and gave the company an "overweight" rating in a research report on Monday, March 3rd. Finally, Susquehanna dropped their target price 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. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Alaska Air Group presently has a consensus rating of "Moderate Buy" and an average price target of $66.83.

Insiders Place Their Bets

In related news, EVP Andrew R. Harrison sold 7,500 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were 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 now owns 26,530 shares in the company, valued at $1,419,620.30. The trade was a 22.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.00% of the company's stock.

Alaska Air Group Price Performance

Shares of ALK remained flat at $50.93 on Monday. The stock had a trading volume of 2,628,025 shares, compared to its average volume of 2,808,408. The firm has a market capitalization of $6.25 billion, a P/E ratio of 16.70, a PEG ratio of 0.43 and a beta of 1.41. Alaska Air Group, Inc. has a fifty-two week low of $32.62 and a fifty-two week high of $78.08. The business has a fifty day moving average price of $48.32 and a 200 day moving average price of $58.49. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.04.

Alaska Air Group (NYSE:ALK - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The transportation company reported ($0.77) EPS for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.05). Alaska Air Group had a return on equity of 14.66% and a net margin of 3.37%. The business 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 firm posted ($0.92) EPS. Alaska Air Group's revenue for the quarter was up 40.5% compared to the same quarter last year. On average, equities analysts forecast that Alaska Air Group, Inc. will post 6.03 EPS for the current year.

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.