Adage Capital Partners GP L.L.C. Raises Stock Position in Alaska Air Group, Inc. (NYSE:ALK)

Adage Capital Partners GP L.L.C. boosted its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 4,615.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 943,064 shares of the transportation company's stock after buying an additional 923,064 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.74% of Alaska Air Group worth $61,063,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Maryland State Retirement & Pension System increased its holdings in shares of Alaska Air Group by 0.3% during the 4th quarter. Maryland State Retirement & Pension System now owns 49,905 shares of the transportation company's stock worth $3,231,000 after acquiring an additional 147 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Alaska Air Group by 0.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 29,816 shares of the transportation company's stock valued at $1,931,000 after purchasing an additional 160 shares during the last quarter. Avior Wealth Management LLC raised its position in shares of Alaska Air Group by 44.8% in the fourth quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company's stock valued at $38,000 after purchasing an additional 182 shares during the period. Savant Capital LLC lifted its stake in shares of Alaska Air Group by 3.4% during the 4th quarter. Savant Capital LLC now owns 6,284 shares of the transportation company's stock worth $407,000 after buying an additional 206 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its holdings in shares of Alaska Air Group by 1.3% during the 4th quarter. Mutual of America Capital Management LLC now owns 19,229 shares of the transportation company's stock worth $1,245,000 after buying an additional 254 shares during the period. Institutional investors own 81.90% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ALK shares. The Goldman Sachs Group raised their price objective on shares of Alaska Air Group from $70.00 to $79.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. upped their price target on shares of Alaska Air Group from $85.00 to $89.00 and gave the company an "overweight" rating in a research note on Monday, March 3rd. UBS Group cut shares of Alaska Air Group from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $75.00 to $54.00 in a research note on Monday, April 7th. Barclays decreased their target price on shares of Alaska Air Group from $62.00 to $55.00 and set an "overweight" rating on the stock in a research report on Friday. Finally, Susquehanna dropped their price target 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. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $65.92.

Insider Buying and Selling at Alaska Air Group

In other news, SVP Andrea L. Schneider sold 1,830 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $73.32, for a total transaction of $134,175.60. Following the transaction, the senior vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Shane R. Tackett sold 22,893 shares of the business's 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 transaction, the chief financial officer now directly owns 31,873 shares in the company, valued at approximately $2,414,061.02. The trade was a 41.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 145,225 shares of company stock valued at $10,562,713 in the last quarter. Company insiders own 0.92% of the company's stock.

Alaska Air Group Price Performance

Shares of NYSE:ALK traded up $0.53 during trading on Friday, reaching $42.04. The company had a trading volume of 5,357,166 shares, compared to its average volume of 2,640,969. The company has a fifty day moving average of $54.11 and a two-hundred day moving average of $57.94. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $5.16 billion, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 0.43 and a beta of 1.37. Alaska Air Group, Inc. has a 12 month low of $32.62 and a 12 month high of $78.08.

Alaska Air Group (NYSE:ALK - Get Free Report) last released its earnings results on Wednesday, April 23rd. The transportation company reported ($0.77) earnings per share for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.05). The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.19 billion. Alaska Air Group had a return on equity of 14.66% and a net margin of 3.37%. Equities research analysts forecast that Alaska Air Group, Inc. will post 6.03 earnings per share for the current year.

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.