Victory Capital Management Inc. Trims Position in Alaska Air Group, Inc. (NYSE:ALK)

Victory Capital Management Inc. lowered its holdings in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 46.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,682 shares of the transportation company's stock after selling 54,368 shares during the period. Victory Capital Management Inc. owned 0.05% of Alaska Air Group worth $3,085,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Valeo Financial Advisors LLC grew its holdings in 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 buying an additional 256 shares during the period. Treasurer of the State of North Carolina boosted its position in shares of Alaska Air Group by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 55,170 shares of the transportation company's stock worth $3,572,000 after acquiring an additional 340 shares during the last quarter. Hancock Whitney Corp grew its holdings in Alaska Air Group by 5.8% in the fourth 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 during the period. Perkins Coie Trust Co increased its position in Alaska Air Group by 125.7% during the first quarter. Perkins Coie Trust Co now owns 677 shares of the transportation company's stock worth $33,000 after purchasing an additional 377 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in Alaska Air Group by 31.2% during the first quarter. Parallel Advisors LLC now owns 1,953 shares of the transportation company's stock worth $96,000 after purchasing an additional 464 shares during the last quarter. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Alaska Air Group Price Performance

Shares of NYSE ALK opened at $52.17 on Monday. Alaska Air Group, Inc. has a 1-year low of $32.62 and a 1-year high of $78.08. The business has a 50-day moving average of $50.70 and a 200-day moving average of $55.85. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.52 and a quick ratio of 0.49. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 0.55 and a beta of 1.41.

Alaska Air Group (NYSE:ALK - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.56 by $0.22. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.65 billion. Alaska Air Group had a return on equity of 12.62% and a net margin of 2.33%. Alaska Air Group's revenue for the quarter was up 27.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.55 EPS. On average, equities analysts anticipate that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Andrew R. Harrison sold 7,500 shares of the firm's 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 completion of the sale, the executive vice president directly owned 26,530 shares of the company's stock, valued at approximately $1,419,620.30. This trade represents a 22.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Emily Halverson sold 2,946 shares of Alaska Air Group stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $51.34, for a total transaction of $151,247.64. Following the sale, the vice president directly owned 8,253 shares in the company, valued at $423,709.02. This trade represents a 26.31% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,479 shares of company stock worth $554,228. Corporate insiders own 0.92% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ALK shares. Barclays lifted their price target on shares of Alaska Air Group from $55.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. UBS Group lifted their target price on Alaska Air Group from $49.00 to $56.00 and gave the company a "neutral" rating in a report on Friday. TD Cowen boosted their price target on Alaska Air Group from $54.00 to $62.00 and gave the company a "buy" rating in a research report on Friday, April 25th. Susquehanna cut their price objective on Alaska Air Group from $95.00 to $55.00 and set a "positive" rating on the stock in a report on Monday, April 7th. Finally, Bank of America reduced their price objective on Alaska Air Group from $80.00 to $70.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Alaska Air Group presently has an average rating of "Moderate Buy" and a consensus price target of $67.42.

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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