South Dakota Investment Council Decreases Stock Holdings in Alaska Air Group, Inc. (NYSE:ALK)

South Dakota Investment Council cut its position in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 27.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 264,937 shares of the transportation company's stock after selling 100,834 shares during the period. South Dakota Investment Council owned about 0.22% of Alaska Air Group worth $13,040,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in Alaska Air Group by 2,046.4% in the 4th quarter. Brighton Jones LLC now owns 96,932 shares of the transportation company's stock valued at $6,276,000 after buying an additional 92,416 shares during the last quarter. HighTower Advisors LLC increased its stake in Alaska Air Group by 20.6% in the 4th quarter. HighTower Advisors LLC now owns 12,773 shares of the transportation company's stock valued at $827,000 after buying an additional 2,186 shares during the last quarter. Natixis Advisors LLC increased its stake in Alaska Air Group by 63.9% in the 4th quarter. Natixis Advisors LLC now owns 31,391 shares of the transportation company's stock valued at $2,033,000 after buying an additional 12,244 shares during the last quarter. Corient Private Wealth LLC increased its stake in Alaska Air Group by 4.3% in the 4th quarter. Corient Private Wealth LLC now owns 21,736 shares of the transportation company's stock valued at $1,407,000 after buying an additional 887 shares during the last quarter. Finally, Xponance Inc. increased its stake in Alaska Air Group by 24.8% in the 4th quarter. Xponance Inc. now owns 5,910 shares of the transportation company's stock valued at $383,000 after buying an additional 1,174 shares during the last quarter. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Alaska Air Group Stock Performance

NYSE:ALK traded down $0.02 on Friday, reaching $53.10. 2,616,075 shares of the company's stock were exchanged, compared to its average volume of 2,906,783. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.56 and a quick ratio of 0.52. The firm has a market cap of $6.52 billion, a price-to-earnings ratio of 19.31, a P/E/G ratio of 0.57 and a beta of 1.41. Alaska Air Group, Inc. has a 52 week low of $32.62 and a 52 week high of $78.08. The stock has a fifty day simple moving average of $50.83 and a 200-day simple moving average of $56.35.

Alaska Air Group (NYSE:ALK - Get Free Report) last released 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 net margin of 2.86% and a return on equity of 15.01%. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter last year, the business posted ($0.92) earnings per share. Alaska Air Group's revenue was up 40.5% compared to the same quarter last year. As a group, sell-side analysts predict that Alaska Air Group, Inc. will post 6.03 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on ALK. UBS Group started coverage on shares of Alaska Air Group in a report on Monday, July 7th. They set a "neutral" rating and a $49.00 target price for the company. Susquehanna dropped 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 research report on Monday, April 7th. TD Cowen boosted their target price on shares of Alaska Air Group from $54.00 to $62.00 and gave the company a "buy" rating in a research report on Friday, April 25th. Bank of America dropped 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 report on Thursday, April 3rd. Finally, Barclays upped their price objective on shares of Alaska Air Group from $55.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Alaska Air Group presently has an average rating of "Moderate Buy" and a consensus price target of $66.83.

Insider Buying and Selling at Alaska Air Group

In related 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 value of $401,325.00. Following the transaction, the executive vice president directly owned 26,530 shares of the company's stock, valued at $1,419,620.30. The trade was a 22.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Emily Halverson sold 2,946 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $51.34, for a total transaction of $151,247.64. Following the transaction, the vice president directly owned 8,253 shares in the company, valued at approximately $423,709.02. The trade was a 26.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,479 shares of company stock worth $554,228. 1.00% of the stock is owned by insiders.

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.