XTX Topco Ltd Buys Shares of 76,063 Alaska Air Group, Inc. (NYSE:ALK)

Key Points

• XTX Topco Ltd has acquired 76,063 shares of Alaska Air Group, valued at approximately $3.74 million, equating to 0.06% ownership of the company.
• Recent insider trading included EVP Andrew R. Harrison selling 7,500 shares and VP Emily Halverson selling 2,946 shares, indicating a decrease in their ownership.
• Alaska Air Group reported a quarterly revenue increase of 27.9% year-over-year, posting earnings of $1.78 per share, surpassing analyst expectations.

XTX Topco Ltd purchased a new position in Alaska Air Group, Inc. (NYSE:ALK - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 76,063 shares of the transportation company's stock, valued at approximately $3,744,000. XTX Topco Ltd owned 0.06% of Alaska Air Group as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Federated Hermes Inc. bought a new stake in shares of Alaska Air Group in the first quarter worth approximately $574,000. Meeder Asset Management Inc. grew its stake in shares of Alaska Air Group by 0.8% in the first quarter. Meeder Asset Management Inc. now owns 43,865 shares of the transportation company's stock worth $2,159,000 after acquiring an additional 339 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Alaska Air Group by 7.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,439 shares of the transportation company's stock worth $563,000 after acquiring an additional 819 shares during the period. Navellier & Associates Inc. bought a new stake in shares of Alaska Air Group in the first quarter worth approximately $266,000. Finally, Pinnacle Associates Ltd. grew its position in Alaska Air Group by 5.4% during the first quarter. Pinnacle Associates Ltd. now owns 11,650 shares of the transportation company's stock valued at $573,000 after buying an additional 600 shares during the period. 81.90% of the stock is currently owned by institutional investors.

Alaska Air Group Trading Down 1.5%

NYSE ALK traded down $0.80 during trading hours on Wednesday, reaching $53.35. The company had a trading volume of 2,150,136 shares, compared to its average volume of 2,837,680. The stock has a 50-day moving average of $50.82 and a 200 day moving average of $55.72. Alaska Air Group, Inc. has a 1-year low of $32.62 and a 1-year high of $78.08. The company has a current ratio of 0.52, a quick ratio of 0.49 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $6.55 billion, a P/E ratio of 21.69, a price-to-earnings-growth ratio of 0.59 and a beta of 1.41.

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

Insider Buying and Selling

In related news, EVP Andrew R. Harrison sold 7,600 shares of the company's stock in a transaction 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 in the company, valued at $1,007,454.60. This represents a 28.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Emily Halverson sold 2,946 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $51.34, for a total value of $151,247.64. Following the sale, the vice president directly owned 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. In the last three months, insiders have sold 18,079 shares of company stock worth $958,700. 1.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on ALK shares. TD Cowen lifted their target price 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 lowered their target price on Alaska Air Group from $95.00 to $55.00 and set a "positive" rating on the stock in a research report on Monday, April 7th. Bank of America lowered their target price on Alaska Air Group from $80.00 to $70.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Barclays upped their price target 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. Finally, UBS Group upped their price target on shares of Alaska Air Group from $49.00 to $56.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $67.42.

Alaska Air Group 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.