Short Interest in Alaska Air Group, Inc. (NYSE:ALK) Decreases By 24.1%

Alaska Air Group, Inc. (NYSE:ALK - Get Free Report) was the target of a large drop in short interest in March. As of March 15th, there was short interest totalling 4,850,000 shares, a drop of 24.1% from the February 28th total of 6,390,000 shares. Approximately 4.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,340,000 shares, the days-to-cover ratio is presently 1.5 days.

Insider Buying and Selling at Alaska Air Group

In other news, EVP Andrew R. Harrison sold 6,600 shares of Alaska Air Group stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $76.28, for a total transaction of $503,448.00. Following the completion of the sale, the executive vice president now owns 34,030 shares of the company's stock, valued at approximately $2,595,808.40. The trade was a 16.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joseph A. Sprague sold 9,500 shares of the business's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $68.90, for a total transaction of $654,550.00. Following the completion of the sale, the chief executive officer now owns 9,840 shares of the company's stock, valued at approximately $677,976. This represents a 49.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 154,725 shares of company stock worth $11,217,263 in the last quarter. 0.92% of the stock is owned by corporate insiders.

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Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ALK. FMR LLC increased its holdings in shares of Alaska Air Group by 328.7% in the 4th quarter. FMR LLC now owns 4,649,388 shares of the transportation company's stock valued at $301,048,000 after purchasing an additional 3,564,749 shares during the period. Hennessy Advisors Inc. acquired a new stake in Alaska Air Group in the fourth quarter valued at approximately $82,459,000. Point72 Asset Management L.P. grew its position in Alaska Air Group by 134.0% in the fourth quarter. Point72 Asset Management L.P. now owns 2,134,221 shares of the transportation company's stock worth $138,191,000 after acquiring an additional 1,222,277 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of Alaska Air Group by 4,615.3% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 943,064 shares of the transportation company's stock worth $61,063,000 after purchasing an additional 923,064 shares during the last quarter. Finally, Candlestick Capital Management LP bought a new position in shares of Alaska Air Group during the 4th quarter valued at $51,306,000. 81.90% of the stock is owned by institutional investors and hedge funds.

Alaska Air Group Stock Down 3.4 %

Shares of Alaska Air Group stock traded down $1.55 on Friday, hitting $44.39. 4,388,453 shares of the company's stock traded hands, compared to its average volume of 2,549,590. Alaska Air Group has a 52-week low of $32.62 and a 52-week high of $78.08. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. The stock has a market cap of $5.45 billion, a P/E ratio of 14.55, a PEG ratio of 0.43 and a beta of 1.37. The firm's 50-day moving average is $64.04 and its 200 day moving average is $57.69.

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, topping 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%. Equities analysts anticipate that Alaska Air Group will post 6.03 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on ALK. Citigroup lowered 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 report on Tuesday, March 18th. UBS Group reduced their target price on shares of Alaska Air Group from $87.00 to $75.00 and set a "buy" rating for the company in a research report on Thursday, March 20th. JPMorgan Chase & Co. lifted their price objective on Alaska Air Group from $85.00 to $89.00 and gave the stock an "overweight" rating in a research report on Monday, March 3rd. Bank of America cut 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. Finally, The Goldman Sachs Group boosted their price target on shares of Alaska Air Group from $70.00 to $79.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Alaska Air Group has a consensus rating of "Moderate Buy" and an average price target of $76.23.

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.