Alaska Air Group, Inc. (NYSE:ALK) Shares Purchased by Forum Financial Management LP

Forum Financial Management LP increased its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 97.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 8,589 shares of the transportation company’s stock after purchasing an additional 4,229 shares during the period. Forum Financial Management LP’s holdings in Alaska Air Group were worth $423,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Perkins Coie Trust Co raised its position in shares of 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 purchasing an additional 377 shares in the last quarter. Wood Tarver Financial Group LLC acquired a new position in shares of Alaska Air Group in the 4th quarter valued at approximately $38,000. UMB Bank n.a. raised its position in shares of 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 purchasing an additional 1,065 shares in the last quarter. Millstone Evans Group LLC bought a new stake in shares of Alaska Air Group in the 4th quarter valued at approximately $76,000. Finally, KBC Group NV bought a new stake in shares of Alaska Air Group in the 1st quarter valued at approximately $76,000. 81.90% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Emily Halverson sold 2,946 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $51.34, for a total value 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 represents a 26.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew R. Harrison sold 7,500 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $53.51, for a total value of $401,325.00. Following the completion of the sale, the executive vice president directly owned 26,530 shares of the company’s stock, valued at approximately $1,419,620.30. This represents a 22.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,479 shares of company stock valued at $554,228 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Alaska Air Group Trading Down 0.0%

Shares of ALK stock opened at $53.10 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.52 and a current ratio of 0.56. Alaska Air Group, Inc. has a 1 year low of $32.62 and a 1 year high of $78.08. The stock has a fifty day moving average of $50.83 and a two-hundred day moving average of $56.40. The firm has a market capitalization of $6.52 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 0.57 and a beta of 1.41.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Wednesday, April 23rd. The transportation company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.05). Alaska Air Group had a net margin of 2.86% and a return on equity of 15.01%. The firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same period in the prior year, the business earned ($0.92) EPS. The company’s quarterly revenue was up 40.5% compared to the same quarter last year. As a group, research analysts expect that Alaska Air Group, Inc. will post 6.03 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ALK shares. Bank of America lowered 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. Susquehanna lowered their price objective on Alaska Air Group from $95.00 to $55.00 and set a “positive” rating for the company in a research note on Monday, April 7th. TD Cowen upped their price objective on Alaska Air Group from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, April 25th. 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. Finally, UBS Group started coverage on Alaska Air Group in a research note on Monday, July 7th. They set a “neutral” rating and a $49.00 price objective for the company. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.83.

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.