Edgestream Partners L.P. Invests $487,000 in Alaska Air Group, Inc. (NYSE:ALK)

Edgestream Partners L.P. acquired a new position in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,766 shares of the transportation company's stock, valued at approximately $487,000.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in Alaska Air Group by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company's stock valued at $262,789,000 after buying an additional 357,907 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in Alaska Air Group by 8.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,969,295 shares of the transportation company's stock valued at $119,960,000 after purchasing an additional 220,030 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Alaska Air Group by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,593,756 shares of the transportation company's stock valued at $72,054,000 after purchasing an additional 6,977 shares during the period. American Century Companies Inc. boosted its holdings in Alaska Air Group by 8.3% in the 2nd quarter. American Century Companies Inc. now owns 1,590,078 shares of the transportation company's stock valued at $64,239,000 after purchasing an additional 122,325 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Alaska Air Group by 45.1% in 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 during the period. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALK has been the subject of a number of recent analyst reports. Citigroup cut their price target on shares of Alaska Air Group from $51.00 to $48.00 and set a "buy" rating for the company in a report on Thursday, August 29th. Melius raised 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 research note on Monday, October 28th. Barclays increased their price objective on shares of Alaska Air Group from $55.00 to $80.00 and gave the company an "overweight" rating in a research note on Thursday, November 14th. UBS Group reissued a "buy" rating and issued a $72.00 price objective on shares of Alaska Air Group in a research note on Tuesday, November 26th. Finally, TD Cowen increased their price objective on shares of Alaska Air Group from $50.00 to $68.00 and gave the company a "buy" rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $60.08.

Alaska Air Group Trading Down 2.3 %

Shares of ALK traded down $1.29 during trading hours on Friday, hitting $54.59. The company had a trading volume of 1,194,953 shares, compared to its average volume of 2,233,356. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.93. Alaska Air Group, Inc. has a 52-week low of $32.62 and a 52-week high of $56.95. The stock's 50 day moving average price is $48.61 and its 200 day moving average price is $42.31. The firm has a market cap of $6.93 billion, a P/E ratio of 22.27, a P/E/G ratio of 1.19 and a beta of 1.60.

Alaska Air Group (NYSE:ALK - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.22 by $0.03. The business had revenue of $3.07 billion for 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 quarter last year, the firm earned $1.83 EPS. On average, research analysts predict that Alaska Air Group, Inc. will post 4.26 EPS for the current year.

Alaska Air Group Company 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.