Alaska Air Group, Inc. (NYSE:ALK) Short Interest Up 6.6% in December

Alaska Air Group, Inc. (NYSE:ALK - Get Free Report) saw a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 9,760,000 shares, a growth of 6.6% from the November 30th total of 9,160,000 shares. Based on an average daily volume of 2,520,000 shares, the short-interest ratio is currently 3.9 days.

Alaska Air Group Price Performance

ALK stock traded down $0.12 on Wednesday, reaching $64.75. 1,444,041 shares of the company's stock were exchanged, compared to its average volume of 2,330,771. Alaska Air Group has a twelve month low of $32.62 and a twelve month high of $67.73. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.93. The stock has a fifty day moving average of $55.52 and a 200-day moving average of $45.08. The firm has a market cap of $8.22 billion, a PE ratio of 26.11, a P/E/G ratio of 1.24 and a beta of 1.60.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ALK. Morgan Stanley lifted their target price on shares of Alaska Air Group from $70.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, December 11th. Melius Research upgraded shares of Alaska Air Group from a "hold" rating to a "buy" rating and set a $56.00 price objective on the stock in a research note on Monday, October 28th. Citigroup increased their target price on shares of Alaska Air Group from $63.00 to $74.00 and gave the stock a "buy" rating in a research note on Monday, December 16th. TD Cowen raised their price target on Alaska Air Group from $68.00 to $78.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Finally, Bank of America upped their price objective on Alaska Air Group from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, September 13th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $65.86.

Insider Buying and Selling at Alaska Air Group

In other news, EVP Andrew R. Harrison sold 13,880 shares of Alaska Air Group stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $64.01, for a total transaction of $888,458.80. Following the sale, the executive vice president now owns 20,638 shares in the company, valued at approximately $1,321,038.38. The trade was a 40.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Muehlen Constance E. Von sold 4,000 shares of the business's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $63.09, for a total value of $252,360.00. Following the completion of the sale, the chief operating officer now directly owns 12,162 shares of the company's stock, valued at $767,300.58. The trade was a 24.75 % 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 over the last three months. Insiders own 0.68% of the company's stock.

Institutional Investors Weigh In On Alaska Air Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its stake in shares of Alaska Air Group by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company's stock worth $262,789,000 after buying an additional 357,907 shares during the last quarter. Point72 Asset Management L.P. raised its position in Alaska Air Group by 8.0% during the second quarter. Point72 Asset Management L.P. now owns 2,969,295 shares of the transportation company's stock worth $119,960,000 after acquiring an additional 220,030 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Alaska Air Group by 3.9% in the third quarter. Geode Capital Management LLC now owns 2,061,596 shares of the transportation company's stock valued at $93,229,000 after purchasing an additional 78,186 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Alaska Air Group by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,593,756 shares of the transportation company's stock valued at $72,054,000 after purchasing an additional 6,977 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Alaska Air Group by 8.3% in the second quarter. American Century Companies Inc. now owns 1,590,078 shares of the transportation company's stock valued at $64,239,000 after purchasing an additional 122,325 shares during the last quarter. 81.90% of the stock is currently owned by institutional investors and hedge funds.

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.