Perkins Coie Trust Co Has $33,000 Stock Position in Alaska Air Group, Inc. (NYSE:ALK)

Perkins Coie Trust Co raised its position in Alaska Air Group, Inc. (NYSE:ALK) by 125.7% in the 1st quarter, HoldingsChannel reports. The fund owned 677 shares of the transportation company’s stock after purchasing an additional 377 shares during the period. Perkins Coie Trust Co’s holdings in Alaska Air Group were worth $33,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Wood Tarver Financial Group LLC acquired a new position in Alaska Air Group in the 4th quarter valued at approximately $38,000. SBI Securities Co. Ltd. acquired a new position in Alaska Air Group in the 4th quarter valued at approximately $52,000. EverSource Wealth Advisors LLC raised its holdings in Alaska Air Group by 61.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company’s stock valued at $62,000 after acquiring an additional 364 shares in the last quarter. Millstone Evans Group LLC acquired a new position in Alaska Air Group in the 4th quarter valued at approximately $76,000. Finally, Parallel Advisors LLC raised its holdings in Alaska Air Group by 31.2% in the 1st quarter. Parallel Advisors LLC now owns 1,953 shares of the transportation company’s stock valued at $96,000 after acquiring an additional 464 shares in the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.

Alaska Air Group Trading Up 3.4%

ALK stock opened at $52.43 on Friday. The firm has a market cap of $6.44 billion, a P/E ratio of 17.19, a P/E/G ratio of 0.43 and a beta of 1.44. Alaska Air Group, Inc. has a 1-year low of $32.62 and a 1-year high of $78.08. The business’s 50 day moving average is $48.34 and its 200-day moving average is $58.34. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Wednesday, April 23rd. The transportation company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.05). Alaska Air Group had a net margin of 3.37% and a return on equity of 14.66%. The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the previous year, the firm posted ($0.92) EPS. The company’s revenue for the quarter was up 40.5% compared to the same quarter last year. Equities analysts anticipate that Alaska Air Group, Inc. will post 6.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Alaska Air Group

In other news, VP Emily Halverson sold 2,946 shares of the company’s 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 transaction, the vice president now owns 8,253 shares of the company’s stock, valued at $423,709.02. This represents a 26.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Andrew R. Harrison sold 7,500 shares of the company’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $53.51, for a total value of $401,325.00. Following the transaction, the executive vice president now directly owns 26,530 shares in the company, valued at $1,419,620.30. This trade represents a 22.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,479 shares of company stock worth $554,228. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

ALK has been the subject of several recent research reports. TD Cowen upped 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. Bank of America cut their price target on Alaska Air Group from $80.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. JPMorgan Chase & Co. upped their price objective on Alaska Air Group from $85.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, March 3rd. Barclays lowered their price objective on Alaska Air Group from $62.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Finally, Susquehanna lowered their price objective on Alaska Air Group from $95.00 to $55.00 and set a “positive” rating on the stock in a research note on Monday, April 7th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.83.

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.