William Blair Investment Management LLC Cuts Holdings in Alaska Air Group, Inc. (NYSE:ALK)

William Blair Investment Management LLC trimmed its position in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 44.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,308 shares of the transportation company's stock after selling 5,013 shares during the period. William Blair Investment Management LLC's holdings in Alaska Air Group were worth $408,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ALK. Hennessy Advisors Inc. acquired a new stake in Alaska Air Group in the 4th quarter valued at $82,459,000. Wellington Management Group LLP bought a new position in shares of Alaska Air Group in the third quarter valued at $26,390,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Alaska Air Group by 45.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,247 shares of the transportation company's stock valued at $64,300,000 after buying an additional 442,331 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Alaska Air Group during the fourth quarter worth about $24,241,000. Finally, FMR LLC lifted its position in Alaska Air Group by 32.4% in the 3rd quarter. FMR LLC now owns 1,084,639 shares of the transportation company's stock valued at $49,037,000 after acquiring an additional 265,343 shares in the last quarter. 81.90% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alaska Air Group news, CEO Joseph A. Sprague sold 9,500 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $68.90, for a total value of $654,550.00. Following the sale, the chief executive officer now directly owns 9,840 shares in the company, valued at $677,976. This represents a 49.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Andrew R. Harrison sold 91,745 shares of the business's 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 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 disclosure for this sale can be found here. Insiders sold a total of 154,725 shares of company stock worth $11,217,263 in the last quarter. 0.68% of the stock is owned by company insiders.

Remove Ads

Alaska Air Group Stock Performance

Shares of NYSE ALK traded up $1.45 during midday trading on Monday, hitting $54.28. The company's stock had a trading volume of 3,424,984 shares, compared to its average volume of 2,451,687. The stock has a fifty day moving average price of $67.46 and a 200 day moving average price of $57.18. The firm has a market capitalization of $6.66 billion, a price-to-earnings ratio of 17.80, a P/E/G ratio of 0.43 and a beta of 1.50. Alaska Air Group, Inc. has a one year low of $32.62 and a one year high of $78.08. 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 issued its earnings results 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, research analysts forecast that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on ALK shares. TD Cowen lifted their target price on shares of Alaska Air Group from $85.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. The Goldman Sachs Group boosted their price objective on Alaska Air Group from $70.00 to $79.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Citigroup decreased their target price 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 boosted their price target on shares of Alaska Air Group from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Alaska Air Group from $85.00 to $89.00 and gave the stock an "overweight" rating in a report on Monday, March 3rd. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Alaska Air Group has an average rating of "Moderate Buy" and a consensus price target of $77.00.

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.