ARGA Investment Management LP Buys 80,442 Shares of Alaska Air Group, Inc. (NYSE:ALK)

ARGA Investment Management LP lifted its stake in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 8.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,045,102 shares of the transportation company's stock after buying an additional 80,442 shares during the quarter. Alaska Air Group comprises approximately 2.2% of ARGA Investment Management LP's investment portfolio, making the stock its 17th largest holding. ARGA Investment Management LP owned about 0.82% of Alaska Air Group worth $67,670,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Geode Capital Management LLC grew its position in shares of Alaska Air Group by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,061,596 shares of the transportation company's stock worth $93,229,000 after buying an additional 78,186 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in 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 worth $72,054,000 after acquiring an additional 6,977 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Alaska Air Group by 45.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,247 shares of the transportation company's stock worth $64,300,000 after acquiring an additional 442,331 shares in the last quarter. Hennessy Advisors Inc. bought a new position in Alaska Air Group in the fourth quarter worth approximately $82,459,000. Finally, FMR LLC boosted its holdings in Alaska Air Group by 32.4% in the third quarter. FMR LLC now owns 1,084,639 shares of the transportation company's stock worth $49,037,000 after acquiring an additional 265,343 shares in the last quarter. Institutional investors and hedge funds own 81.90% of the company's stock.

Analyst Ratings Changes

ALK has been the topic of several recent research reports. Melius Research upgraded Alaska Air Group from a "hold" rating to a "buy" rating and set a $56.00 price target on the stock in a report on Monday, October 28th. Morgan Stanley increased their price target on Alaska Air Group from $70.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday, December 11th. Bank of America upped their target price 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. TD Cowen upped their target price on shares of Alaska Air Group from $85.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, January 24th. Finally, Melius upgraded shares of Alaska Air Group from a "hold" rating to a "buy" rating and set a $56.00 target price on the stock in a report on Monday, October 28th. One analyst has rated the stock with a hold rating and fourteen 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 target price of $74.86.

Alaska Air Group Stock Performance

NYSE:ALK traded up $1.55 during trading on Friday, reaching $75.96. The company's stock had a trading volume of 3,075,153 shares, compared to its average volume of 2,799,872. Alaska Air Group, Inc. has a 12 month low of $32.62 and a 12 month high of $76.33. The firm has a market cap of $9.64 billion, a price-to-earnings ratio of 24.91, a price-to-earnings-growth ratio of 0.67 and a beta of 1.55. The firm has a 50 day moving average of $65.92 and a 200-day moving average of $50.72. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.61.

Alaska Air Group (NYSE:ALK - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.52. Alaska Air Group had a net margin of 3.37% and a return on equity of 14.66%. Research analysts expect that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

Insider Transactions 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 shares were sold at an average price of $64.01, for a total value of $888,458.80. Following the completion of the transaction, the executive vice president now owns 20,638 shares in the company, valued at $1,321,038.38. This trade represents 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 available at the SEC website. Also, SVP Andrea L. Schneider sold 3,700 shares of Alaska Air Group stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $63.50, for a total transaction of $234,950.00. Following the completion of the transaction, the senior vice president now owns 21,086 shares of the company's stock, valued at $1,338,961. The trade was a 14.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,548 shares of company stock worth $9,513,807 in the last quarter. Insiders own 0.68% of the company's stock.

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.