Alaska Air Group, Inc. (NYSE:ALK) Shares Sold by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. reduced its stake in Alaska Air Group by 46.4% during the first quarter, ending the period with 62,682 shares valued at $3,085,000.
• Alaska Air Group reported earnings of $1.78 per share for the last quarter, surpassing analysts' expectations of $1.56, with a revenue of $3.70 billion, marking a 27.9% year-over-year increase.
• Brokerages have set a consensus price target of $67.42 for Alaska Air Group, with ratings ranging from "neutral" to "buy" from various analysts.

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

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Perkins Coie Trust Co lifted 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 acquiring an additional 377 shares in the last quarter. Wood Tarver Financial Group LLC bought a new position in Alaska Air Group in the 4th quarter valued at approximately $38,000. UMB Bank n.a. lifted its position in Alaska Air Group by 459.1% in the 1st quarter. UMB Bank n.a. now owns 1,297 shares of the transportation company's stock valued at $64,000 after acquiring an additional 1,065 shares in the last quarter. KBC Group NV bought a new position in Alaska Air Group in the 1st quarter valued at approximately $76,000. Finally, Fifth Third Bancorp lifted its position in Alaska Air Group by 96.3% in the 1st quarter. Fifth Third Bancorp now owns 1,926 shares of the transportation company's stock valued at $95,000 after acquiring an additional 945 shares in the last quarter. Institutional investors own 81.90% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ALK. TD Cowen increased their price target on Alaska Air Group from $54.00 to $62.00 and gave the company a "buy" rating in a report on Friday, April 25th. Susquehanna lowered their price target 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. Barclays upped their price objective on Alaska Air Group from $55.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. UBS Group upped their price objective on Alaska Air Group from $49.00 to $56.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Finally, Bank of America reduced their price objective on 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. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Alaska Air Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.42.

Insider Activity at Alaska Air Group

In other news, EVP Andrew R. Harrison sold 7,600 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $53.22, for a total value of $404,472.00. Following the completion of the sale, the executive vice president owned 18,930 shares of the company's stock, valued at $1,007,454.60. This represents a 28.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Emily Halverson sold 2,946 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president directly owned 8,253 shares of the company's stock, valued at approximately $423,709.02. This trade represents a 26.31% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 18,079 shares of company stock valued at $958,700. Corporate insiders own 1.00% of the company's stock.

Alaska Air Group Price Performance

Shares of ALK traded down $0.11 during mid-day trading on Thursday, hitting $53.23. 245,072 shares of the company were exchanged, compared to its average volume of 3,249,887. Alaska Air Group, Inc. has a 1-year low of $32.62 and a 1-year high of $78.08. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.49 and a current ratio of 0.52. The company has a 50 day moving average of $50.82 and a 200-day moving average of $55.72. The stock has a market cap of $6.53 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 0.59 and a beta of 1.41.

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

Alaska Air Group Company Profile

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.