Icon Advisers Inc. Co. Makes New $6.15 Million Investment in Alaska Air Group, Inc. (NYSE:ALK)

Icon Advisers Inc. Co. purchased a new position in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 95,000 shares of the transportation company's stock, valued at approximately $6,151,000. Alaska Air Group accounts for about 1.4% of Icon Advisers Inc. Co.'s portfolio, making the stock its 12th biggest holding. Icon Advisers Inc. Co. owned about 0.07% of Alaska Air Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC increased its position in shares of Alaska Air Group by 328.7% in the fourth quarter. FMR LLC now owns 4,649,388 shares of the transportation company's stock worth $301,048,000 after purchasing an additional 3,564,749 shares during the period. Hennessy Advisors Inc. bought a new position in Alaska Air Group in the 4th quarter valued at about $82,459,000. Raymond James Financial Inc. acquired a new position in shares of Alaska Air Group in the 4th quarter valued at approximately $24,241,000. Norges Bank bought a new stake in shares of Alaska Air Group during the 4th quarter worth approximately $19,847,000. Finally, Boston Partners boosted its position in shares of Alaska Air Group by 6.9% during the 4th quarter. Boston Partners now owns 3,460,959 shares of the transportation company's stock worth $224,121,000 after acquiring an additional 222,780 shares in the last quarter. Institutional investors and hedge funds own 81.90% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on ALK. Susquehanna lowered their price objective on shares of Alaska Air Group from $95.00 to $55.00 and set a "positive" rating for the company in a research report on Monday, April 7th. TD Cowen boosted their price target on Alaska Air Group from $85.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, January 24th. UBS Group lowered Alaska Air Group from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $75.00 to $54.00 in a research note on Monday, April 7th. Bank of America lowered their target price on Alaska Air Group from $80.00 to $70.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Finally, Citigroup reduced their price target on shares of Alaska Air Group from $83.00 to $81.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.15.

Alaska Air Group Trading Up 1.0 %

NYSE:ALK traded up $0.43 during trading hours on Friday, hitting $45.08. 2,267,011 shares of the company were exchanged, compared to its average volume of 2,592,068. The company has a fifty day simple moving average of $57.21 and a 200 day simple moving average of $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 capitalization of $5.53 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 0.43 and a beta of 1.37. 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 - Get Free Report) last released its earnings results on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share 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%. Sell-side analysts expect that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

Insider Activity

In other news, CEO Joseph A. Sprague sold 9,500 shares of the company's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $68.90, for a total transaction of $654,550.00. Following the transaction, the chief executive officer now directly owns 9,840 shares of the company's stock, valued at $677,976. This represents a 49.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Shane R. Tackett sold 22,893 shares of Alaska Air Group stock in a transaction on Monday, February 10th. The shares were sold at an average price of $75.74, for a total transaction of $1,733,915.82. Following the completion of the sale, the chief financial officer now directly owns 31,873 shares of the company's stock, valued at approximately $2,414,061.02. The trade was a 41.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 154,725 shares of company stock valued at $11,217,263 in the last ninety days. 1.00% of the stock is owned by company insiders.

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.