ARGA Investment Management LP Buys 64,158 Shares of Alaska Air Group, Inc. (NYSE:ALK)

ARGA Investment Management LP boosted its stake in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 7.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 964,660 shares of the transportation company's stock after buying an additional 64,158 shares during the period. Alaska Air Group makes up about 1.4% of ARGA Investment Management LP's investment portfolio, making the stock its 20th largest holding. ARGA Investment Management LP owned 0.76% of Alaska Air Group worth $43,612,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its holdings in shares of Alaska Air Group by 2,087.8% during the third quarter. Assenagon Asset Management S.A. now owns 762,889 shares of the transportation company's stock valued at $34,490,000 after acquiring an additional 728,019 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Alaska Air Group by 45.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,422,247 shares of the transportation company's stock valued at $64,300,000 after purchasing an additional 442,331 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Alaska Air Group by 5.8% in the second 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. Mesirow Institutional Investment Management Inc. purchased a new position in Alaska Air Group in the second quarter worth about $11,475,000. Finally, FMR LLC grew its holdings in shares of Alaska Air Group by 32.4% during the third quarter. FMR LLC now owns 1,084,639 shares of the transportation company's stock valued at $49,037,000 after buying an additional 265,343 shares during the last quarter. Hedge funds and other institutional investors own 81.90% of the company's stock.

Alaska Air Group Stock Performance

Shares of NYSE:ALK traded down $0.08 during mid-day trading on Friday, reaching $52.60. 649,334 shares of the company traded hands, compared to its average volume of 1,878,480. The company's 50 day moving average price is $47.69 and its 200-day moving average price is $42.00. The firm has a market cap of $6.68 billion, a PE ratio of 21.21, a PEG ratio of 1.19 and a beta of 1.59. Alaska Air Group, Inc. has a 52 week low of $32.00 and a 52 week high of $54.14. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57.

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. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3 billion. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The company's revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.83 earnings per share. On average, equities analysts expect that Alaska Air Group, Inc. will post 4.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ALK. Melius upgraded shares of Alaska Air Group from a "hold" rating to a "buy" rating and set a $56.00 price objective for the company in a report on Monday, October 28th. Evercore ISI lowered their price target on Alaska Air Group from $60.00 to $55.00 and set an "outperform" rating on the stock in a report on Thursday, October 3rd. Citigroup dropped their price objective on Alaska Air Group from $51.00 to $48.00 and set a "buy" rating on the stock in a research report on Thursday, August 29th. TD Cowen lowered their target price on shares of Alaska Air Group from $52.00 to $50.00 and set a "buy" rating on the stock in a research note on Thursday, October 3rd. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $70.00 price target on shares of Alaska Air Group in a report on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $58.69.

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.