Bank of Nova Scotia Buys New Holdings in Alaska Air Group, Inc. (NYSE:ALK)

Bank of Nova Scotia bought a new stake in Alaska Air Group, Inc. (NYSE:ALK - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,878 shares of the transportation company's stock, valued at approximately $445,000.

Several other large investors also recently modified their holdings of the business. Avior Wealth Management LLC raised its holdings in Alaska Air Group by 44.8% during the 4th quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company's stock worth $38,000 after buying an additional 182 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Alaska Air Group in the fourth quarter valued at $52,000. Wilmington Savings Fund Society FSB bought a new stake in Alaska Air Group during the third quarter worth $59,000. EverSource Wealth Advisors LLC lifted its stake in Alaska Air Group by 61.6% in the fourth 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 during the last quarter. Finally, Millstone Evans Group LLC acquired a new stake in Alaska Air Group in the 4th quarter valued at about $76,000. 81.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ALK. Citigroup cut their price objective on Alaska Air Group from $83.00 to $81.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Bank of America cut their price objective on shares of Alaska Air Group from $80.00 to $70.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. The Goldman Sachs Group boosted their price target on Alaska Air Group from $70.00 to $79.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. UBS Group cut Alaska Air Group from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $75.00 to $54.00 in a report on Monday, April 7th. Finally, Susquehanna decreased their price target on Alaska Air Group from $95.00 to $55.00 and set a "positive" rating on the stock in a research report on Monday, April 7th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, Alaska Air Group has an average rating of "Moderate Buy" and an average target price of $70.15.

Alaska Air Group Trading Up 1.0 %

Alaska Air Group stock traded up $0.43 during trading hours on Friday, hitting $45.08. The stock had a trading volume of 2,267,011 shares, compared to its average volume of 2,592,068. The business's 50 day simple moving average is $57.21 and its 200-day simple moving average is $57.82. Alaska Air Group, Inc. has a one year low of $32.62 and a one year high of $78.08. The stock has a market cap of $5.53 billion, a price-to-earnings ratio of 14.78, a P/E/G ratio of 0.43 and a beta of 1.37. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.04.

Alaska Air Group (NYSE:ALK - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.52. Alaska Air Group had a net margin of 3.37% and a return on equity of 14.66%. On average, equities analysts predict that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

Insider Activity at Alaska Air Group

In related news, EVP Andrew R. Harrison sold 91,745 shares of Alaska Air Group stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $71.14, for a total transaction of $6,526,739.30. Following the completion of the transaction, the executive vice president now owns 20,638 shares of the company's stock, valued at $1,468,187.32. This trade represents a 81.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Andrea L. Schneider sold 1,830 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $73.32, for a total value of $134,175.60. Following the sale, the senior vice president now owns 20,286 shares of the company's stock, valued at approximately $1,487,369.52. The trade was a 8.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 154,725 shares of company stock worth $11,217,263 over the last three months. Company insiders own 1.00% of the company's stock.

About Alaska Air Group

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.