Virtu Financial LLC Acquires New Holdings in Alaska Air Group, Inc. (NYSE:ALK)

Key Points

• Virtu Financial LLC has acquired a new stake in Alaska Air Group, purchasing 13,378 shares valued at approximately $658,000 during the 1st quarter.
• Alaska Air Group's stock has seen significant interest from institutional investors, with 81.90% of the stock owned by hedge funds and institutional investors.
• Recent analyst reports indicate a generally positive outlook for Alaska Air Group, with multiple firms raising their price targets, reflecting a consensus average target price of $67.83.

Virtu Financial LLC purchased a new position in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 13,378 shares of the transportation company's stock, valued at approximately $658,000.

Several other hedge funds also recently modified their holdings of the company. Entropy Technologies LP acquired a new stake in shares of Alaska Air Group during the 1st quarter worth about $629,000. Atlas Capital Advisors Inc. boosted its position in shares of Alaska Air Group by 452.2% in the first quarter. Atlas Capital Advisors Inc. now owns 11,623 shares of the transportation company's stock worth $572,000 after acquiring an additional 9,518 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Alaska Air Group by 630.3% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 442,038 shares of the transportation company's stock worth $21,757,000 after acquiring an additional 381,509 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Alaska Air Group in the first quarter worth approximately $71,000. Finally, Deutsche Bank AG boosted its position in shares of Alaska Air Group by 9.8% in the first quarter. Deutsche Bank AG now owns 51,454 shares of the transportation company's stock worth $2,533,000 after acquiring an additional 4,572 shares during the last quarter. 81.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ALK has been the topic of several research reports. Susquehanna raised their price target on shares of Alaska Air Group from $50.00 to $60.00 and gave the company a "positive" rating in a report on Tuesday, August 5th. Barclays raised 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 raised their price target on shares of Alaska Air Group from $49.00 to $56.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Finally, TD Cowen raised their price target on shares of Alaska Air Group from $54.00 to $62.00 and gave the company a "buy" rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Alaska Air Group presently has an average rating of "Moderate Buy" and a consensus target price of $67.83.

Alaska Air Group Stock Up 9.9%

ALK stock opened at $56.18 on Wednesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.52 and a quick ratio of 0.49. Alaska Air Group, Inc. has a 1-year low of $34.44 and a 1-year high of $78.08. The firm has a fifty day moving average price of $51.16 and a two-hundred day moving average price of $54.73. The firm has a market cap of $6.48 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 0.50 and a beta of 1.45.

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

Insider Buying and Selling at Alaska Air Group

In other Alaska Air Group news, 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 completion of the sale, the vice president owned 8,253 shares in the company, valued at $423,709.02. The trade was a 26.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrew R. Harrison sold 7,600 shares of the business's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $53.22, for a total transaction of $404,472.00. Following the sale, the executive vice president owned 18,930 shares of the company's stock, valued at approximately $1,007,454.60. The trade was a 28.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,046 shares of company stock valued at $957,045. 0.92% of the stock is owned by insiders.

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.

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