Alaska Air Group, Inc. (NYSE:ALK) Position Raised by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board grew its position in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 158.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,900 shares of the transportation company's stock after purchasing an additional 20,800 shares during the period. Canada Pension Plan Investment Board's holdings in Alaska Air Group were worth $2,195,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Friedenthal Financial purchased a new position in Alaska Air Group during the fourth quarter worth about $772,000. Franklin Resources Inc. lifted its holdings in shares of Alaska Air Group by 4.1% during the 3rd quarter. Franklin Resources Inc. now owns 633,514 shares of the transportation company's stock worth $28,312,000 after acquiring an additional 24,796 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Alaska Air Group in the fourth quarter worth approximately $52,000. Jones Financial Companies Lllp grew its holdings in Alaska Air Group by 77.8% in the fourth quarter. Jones Financial Companies Lllp now owns 5,221 shares of the transportation company's stock valued at $338,000 after purchasing an additional 2,284 shares during the period. Finally, HighTower Advisors LLC grew its holdings in Alaska Air Group by 20.6% in the fourth quarter. HighTower Advisors LLC now owns 12,773 shares of the transportation company's stock valued at $827,000 after purchasing an additional 2,186 shares during the period. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

Alaska Air Group Stock Up 1.3 %

Alaska Air Group stock traded up $0.53 during midday trading on Friday, hitting $42.04. 5,357,166 shares of the stock were exchanged, compared to its average volume of 2,640,969. Alaska Air Group, Inc. has a 1 year low of $32.62 and a 1 year high of $78.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.58. The firm has a market cap of $5.16 billion, a P/E ratio of 13.78, a P/E/G ratio of 0.43 and a beta of 1.37. The company has a 50 day moving average price of $54.11 and a two-hundred day moving average price of $57.94.

Alaska Air Group (NYSE:ALK - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The transportation company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.05). The business had revenue of $3.14 billion for the quarter, compared to analysts' expectations of $3.19 billion. Alaska Air Group had a return on equity of 14.66% and a net margin of 3.37%. On average, sell-side analysts predict that Alaska Air Group, Inc. will post 6.03 earnings per share for the current fiscal year.

Insider Activity at Alaska Air Group

In other Alaska Air Group news, SVP Andrea L. Schneider sold 1,830 shares of Alaska Air Group stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $73.32, for a total value of $134,175.60. Following the completion of the transaction, the senior vice president now owns 20,286 shares of the company's stock, valued at $1,487,369.52. The trade was a 8.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Shane R. Tackett sold 22,893 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $75.74, for a total transaction of $1,733,915.82. Following the sale, the chief financial officer now directly owns 31,873 shares in the company, valued at $2,414,061.02. This trade represents a 41.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 145,225 shares of company stock valued at $10,562,713 over the last three months. 0.92% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ALK shares. The Goldman Sachs Group lifted their price target on shares of Alaska Air Group from $70.00 to $79.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Barclays reduced their target price on Alaska Air Group from $62.00 to $55.00 and set an "overweight" rating on the stock in a report on Friday. UBS Group lowered Alaska Air Group from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $75.00 to $54.00 in a research note on Monday, April 7th. JPMorgan Chase & Co. raised their price objective on Alaska Air Group from $85.00 to $89.00 and gave the stock an "overweight" rating in a report on Monday, March 3rd. Finally, TD Cowen boosted their target price on Alaska Air Group from $54.00 to $62.00 and gave the stock a "buy" rating in a report on Friday. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Alaska Air Group has an average rating of "Moderate Buy" and an average target price of $65.92.

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.