Retirement Systems of Alabama Boosts Holdings in Alaska Air Group, Inc. (NYSE:ALK)

Retirement Systems of Alabama boosted its position in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 156.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 245,647 shares of the transportation company's stock after acquiring an additional 149,801 shares during the quarter. Retirement Systems of Alabama owned 0.20% of Alaska Air Group worth $12,091,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Perkins Coie Trust Co grew its position in Alaska Air Group by 125.7% in the 1st quarter. Perkins Coie Trust Co now owns 677 shares of the transportation company's stock valued at $33,000 after buying an additional 377 shares during the last quarter. Wood Tarver Financial Group LLC acquired a new position in shares of Alaska Air Group during the 4th quarter worth $38,000. SBI Securities Co. Ltd. acquired a new position in shares of Alaska Air Group during the 4th quarter worth $52,000. EverSource Wealth Advisors LLC raised its stake in shares of Alaska Air Group by 61.6% during the 4th 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. Finally, UMB Bank n.a. raised its stake in shares of Alaska Air Group by 459.1% during the 1st quarter. UMB Bank n.a. now owns 1,297 shares of the transportation company's stock worth $64,000 after buying an additional 1,065 shares during the last quarter. Institutional investors and hedge funds own 81.90% of the company's stock.

Insider Activity

In related news, EVP Andrew R. Harrison sold 7,500 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 26,530 shares of the company's stock, valued at approximately $1,419,620.30. This represents a 22.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Emily Halverson sold 2,946 shares of the stock in a transaction dated 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 sale, the vice president now directly owns 8,253 shares of the company's stock, valued at approximately $423,709.02. This represents a 26.31% 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. Insiders own 0.92% of the company's stock.

Alaska Air Group Trading Up 0.1%

Shares of ALK stock opened at $46.91 on Monday. The stock has a 50-day simple moving average of $48.89 and a 200 day simple moving average of $58.09. Alaska Air Group, Inc. has a fifty-two week low of $32.62 and a fifty-two week high of $78.08. The stock has a market capitalization of $5.76 billion, a P/E ratio of 17.06, a P/E/G ratio of 0.48 and a beta of 1.44. 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 announced 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). Alaska Air Group had a net margin of 2.86% and a return on equity of 15.01%. The company had revenue of $3.14 billion for the quarter, compared to analysts' expectations of $3.19 billion. During the same period in the prior year, the company earned ($0.92) earnings per share. The company's revenue for the quarter was up 40.5% on a year-over-year basis. On average, sell-side analysts expect that Alaska Air Group, Inc. will post 6.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ALK. Bank of America cut their target price on shares of Alaska Air Group from $80.00 to $70.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Barclays decreased their target price on Alaska Air Group from $62.00 to $55.00 and set an "overweight" rating for the company in a report on Friday, April 25th. JPMorgan Chase & Co. boosted their target price on Alaska Air Group from $85.00 to $89.00 and gave the stock an "overweight" rating in a report on Monday, March 3rd. Citigroup decreased their target price on Alaska Air Group from $83.00 to $81.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Finally, Susquehanna decreased their target price on Alaska Air Group from $95.00 to $55.00 and set a "positive" rating for the company in a report on Monday, April 7th. One 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.com, Alaska Air Group presently has an average rating of "Moderate Buy" and an average price target 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.

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