Alaska Air Group, Inc. $ALK Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its stake in Alaska Air Group, Inc. (NYSE:ALK) by 0.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 341,951 shares of the transportation company’s stock after selling 2,085 shares during the quarter. Rhumbline Advisers’ holdings in Alaska Air Group were worth $16,920,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. American Century Companies Inc. boosted its position in Alaska Air Group by 1.5% in the 1st quarter. American Century Companies Inc. now owns 3,224,165 shares of the transportation company’s stock valued at $158,693,000 after buying an additional 47,184 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Alaska Air Group by 249.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,638,464 shares of the transportation company’s stock worth $129,865,000 after acquiring an additional 1,882,598 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Alaska Air Group by 3.6% in the second quarter. Geode Capital Management LLC now owns 2,215,697 shares of the transportation company’s stock valued at $109,657,000 after purchasing an additional 77,531 shares during the last quarter. ARGA Investment Management LP boosted its holdings in Alaska Air Group by 7.2% in the second quarter. ARGA Investment Management LP now owns 1,099,190 shares of the transportation company’s stock valued at $54,388,000 after purchasing an additional 74,137 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Alaska Air Group by 36.7% during the 1st quarter. Northern Trust Corp now owns 1,062,712 shares of the transportation company’s stock valued at $52,307,000 after purchasing an additional 285,382 shares in the last quarter. 81.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ALK. Cantor Fitzgerald set a $65.00 target price on Alaska Air Group in a research report on Monday, November 3rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Alaska Air Group in a report on Tuesday. Susquehanna set a $58.00 price objective on shares of Alaska Air Group and gave the stock a “positive” rating in a report on Friday, October 3rd. JPMorgan Chase & Co. boosted their target price on shares of Alaska Air Group from $73.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. Finally, Zacks Research downgraded Alaska Air Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 8th. Twelve equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.08.

Alaska Air Group Stock Performance

Shares of NYSE ALK opened at $42.74 on Friday. Alaska Air Group, Inc. has a 12-month low of $37.63 and a 12-month high of $78.08. The company has a market cap of $4.96 billion, a PE ratio of 34.46, a P/E/G ratio of 0.80 and a beta of 1.41. The stock has a 50 day simple moving average of $45.31 and a 200-day simple moving average of $50.97. The company has a current ratio of 0.52, a quick ratio of 0.49 and a debt-to-equity ratio of 1.12.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, October 23rd. The transportation company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.06). Alaska Air Group had a net margin of 1.06% and a return on equity of 8.93%. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the previous year, the firm earned $2.25 EPS. The firm’s revenue was up 22.6% on a year-over-year basis. On average, equities research analysts forecast that Alaska Air Group, Inc. will post 6.03 EPS for the current year.

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.