Connor Clark & Lunn Investment Management Ltd. Sells 39,858 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 71.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,112 shares of the transportation company's stock after selling 39,858 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Alaska Air Group were worth $728,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of ALK. Altshuler Shaham Ltd bought a new stake in Alaska Air Group during the second quarter worth approximately $28,000. Venturi Wealth Management LLC increased its position in shares of Alaska Air Group by 86.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company's stock valued at $46,000 after purchasing an additional 474 shares during the period. Pacifica Partners Inc. raised its stake in shares of Alaska Air Group by 952.4% in the 3rd quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company's stock worth $50,000 after buying an additional 1,000 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Alaska Air Group in the third quarter valued at $67,000. Finally, Canada Pension Plan Investment Board bought a new position in Alaska Air Group during the second quarter valued at about $69,000. 81.90% of the stock is owned by institutional investors and hedge funds.

Alaska Air Group Stock Down 0.2 %

ALK traded down $0.08 during trading on Friday, reaching $52.60. 649,327 shares of the stock traded hands, compared to its average volume of 2,240,781. 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, Inc. has a fifty-two week low of $32.00 and a fifty-two week high of $54.14. The stock's 50-day simple moving average is $47.44 and its two-hundred day simple moving average is $41.95. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 1.20 and a beta of 1.59.

Alaska Air Group (NYSE:ALK - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.22 by $0.03. The business had revenue of $3.07 billion during the quarter, compared to analysts' expectations of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The firm's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.83 EPS. As a group, equities research analysts expect that Alaska Air Group, Inc. will post 4.26 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on ALK. Bank of America boosted their price target on shares of Alaska Air Group from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, September 13th. The Goldman Sachs Group reiterated a "buy" rating and issued a $70.00 target price on shares of Alaska Air Group in a report on Friday, November 15th. Melius Research upgraded shares of Alaska Air Group from a "hold" rating to a "buy" rating and set a $56.00 target price for the company in a report on Monday, October 28th. Evercore ISI reduced their price objective on Alaska Air Group from $60.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday, October 3rd. Finally, Citigroup cut their target price 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. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Alaska Air Group presently has an average rating of "Moderate Buy" and a consensus price target of $58.69.

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.