Wedge Capital Management L L P NC Sells 24,657 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Wedge Capital Management L L P NC trimmed its stake in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 32.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,932 shares of the transportation company's stock after selling 24,657 shares during the period. Wedge Capital Management L L P NC's holdings in Alaska Air Group were worth $2,029,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Verdence Capital Advisors LLC lifted its holdings in Alaska Air Group by 4.5% in the third quarter. Verdence Capital Advisors LLC now owns 7,663 shares of the transportation company's stock valued at $284,000 after buying an additional 327 shares during the period. Aspire Capital Advisors LLC increased its stake in Alaska Air Group by 3.3% in the third quarter. Aspire Capital Advisors LLC now owns 10,847 shares of the transportation company's stock valued at $402,000 after purchasing an additional 350 shares in the last quarter. Blue Trust Inc. increased its stake in Alaska Air Group by 14.2% in the fourth quarter. Blue Trust Inc. now owns 2,868 shares of the transportation company's stock valued at $106,000 after purchasing an additional 357 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Alaska Air Group by 2.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,189 shares of the transportation company's stock worth $674,000 after acquiring an additional 365 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Alaska Air Group by 15.1% during the third quarter. Daiwa Securities Group Inc. now owns 3,003 shares of the transportation company's stock worth $111,000 after acquiring an additional 393 shares in the last quarter. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Alaska Air Group Stock Performance

ALK stock traded up $0.32 during trading hours on Thursday, reaching $44.55. The stock had a trading volume of 2,784,412 shares, compared to its average volume of 2,502,987. The stock has a market capitalization of $5.60 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 0.62 and a beta of 1.63. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.65 and a quick ratio of 0.63. The stock has a 50-day simple moving average of $40.28 and a 200 day simple moving average of $37.48. Alaska Air Group, Inc. has a fifty-two week low of $30.75 and a fifty-two week high of $57.18.

Alaska Air Group (NYSE:ALK - Get Free Report) last announced its quarterly earnings results on Thursday, April 18th. The transportation company reported ($0.92) EPS for the quarter, beating analysts' consensus estimates of ($1.09) by $0.17. The firm had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.18 billion. Alaska Air Group had a net margin of 2.34% and a return on equity of 13.54%. The company's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.62) earnings per share. Analysts predict that Alaska Air Group, Inc. will post 4.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ALK shares. StockNews.com raised shares of Alaska Air Group from a "sell" rating to a "hold" rating in a research report on Friday, April 19th. UBS Group started coverage on shares of Alaska Air Group in a research report on Wednesday, March 20th. They set a "buy" rating and a $54.00 price objective for the company. Susquehanna increased their price objective on shares of Alaska Air Group from $40.00 to $42.00 and gave the stock a "neutral" rating in a research report on Friday, April 19th. Bank of America increased their price objective on shares of Alaska Air Group from $50.00 to $56.00 and gave the stock a "buy" rating in a research report on Friday, April 19th. Finally, TD Cowen raised their target price on shares of Alaska Air Group from $49.00 to $58.00 and gave the company a "buy" rating in a research report on Friday, April 19th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $57.85.

Insider Transactions at Alaska Air Group

In other news, EVP Andrew R. Harrison sold 6,500 shares of the firm's stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $38.36, for a total transaction of $249,340.00. Following the completion of the sale, the executive vice president now owns 26,048 shares in the company, valued at approximately $999,201.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.68% of the stock is currently owned by corporate insiders.

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.