Retirement Systems of Alabama Acquires New Position in Alaska Air Group, Inc. (NYSE:ALK)

Retirement Systems of Alabama purchased a new stake in Alaska Air Group, Inc. (NYSE:ALK - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 112,064 shares of the transportation company's stock, valued at approximately $5,066,000. Retirement Systems of Alabama owned about 0.09% of Alaska Air Group as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in ALK. Altshuler Shaham Ltd acquired a new position in Alaska Air Group in the second quarter valued at $28,000. Pacific Center for Financial Services acquired a new position in shares of Alaska Air Group during the 3rd quarter valued at about $45,000. Venturi Wealth Management LLC boosted its position in shares of Alaska Air Group by 86.0% in the third quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company's stock worth $46,000 after acquiring an additional 474 shares during the last quarter. Pacifica Partners Inc. grew its holdings in Alaska Air Group by 952.4% in the third quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company's stock valued at $50,000 after purchasing an additional 1,000 shares during the period. Finally, True Wealth Design LLC acquired a new position in Alaska Air Group during the third quarter worth approximately $52,000. Hedge funds and other institutional investors own 81.90% of the company's stock.

Alaska Air Group Stock Up 4.1 %

Shares of NYSE:ALK traded up $2.53 during trading on Thursday, hitting $64.97. The company's stock had a trading volume of 3,065,366 shares, compared to its average volume of 2,307,035. The company has a market capitalization of $8.25 billion, a PE ratio of 26.20, a PEG ratio of 1.24 and a beta of 1.60. Alaska Air Group, Inc. has a fifty-two week low of $32.62 and a fifty-two week high of $65.62. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60. The stock's 50-day moving average price is $52.17 and its two-hundred day moving average price is $43.62.

Alaska Air Group (NYSE:ALK - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.03. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. Alaska Air Group's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.83 EPS. As a group, sell-side analysts expect that Alaska Air Group, Inc. will post 4.3 EPS for the current year.

Insider Buying and Selling at Alaska Air Group

In other news, CEO Joseph A. Sprague sold 2,325 shares of Alaska Air Group stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $64.38, for a total value of $149,683.50. Following the completion of the transaction, the chief executive officer now owns 19,340 shares in the company, valued at approximately $1,245,109.20. This trade represents a 10.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Emily Halverson sold 1,329 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $64.41, for a total value of $85,600.89. Following the sale, the vice president now directly owns 7,150 shares in the company, valued at approximately $460,531.50. This represents a 15.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,473 shares of company stock worth $2,198,342 in the last ninety days. 0.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Alaska Air Group from $58.00 to $85.00 and gave the company an "overweight" rating in a research note on Wednesday, December 11th. Melius upgraded Alaska Air Group from a "hold" rating to a "buy" rating and set a $56.00 price objective on the stock in a report on Monday, October 28th. Morgan Stanley boosted their target price on Alaska Air Group from $70.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday, December 11th. Citigroup raised their price target on shares of Alaska Air Group from $63.00 to $74.00 and gave the company a "buy" rating in a report on Monday. Finally, TD Cowen boosted their price objective on shares of Alaska Air Group from $68.00 to $78.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $65.86.

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.