Fmr LLC Buys 265,343 Shares of Alaska Air Group, Inc. (NYSE:ALK)

FMR LLC boosted its stake in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 32.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,084,639 shares of the transportation company's stock after acquiring an additional 265,343 shares during the period. FMR LLC owned 0.85% of Alaska Air Group worth $49,037,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. lifted its stake in Alaska Air Group by 2,087.8% in 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 buying an additional 728,019 shares during the period. Charles Schwab Investment Management Inc. lifted its stake 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 valued at $64,300,000 after buying an additional 442,331 shares during the period. Dimensional Fund Advisors LP lifted its stake 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 valued at $262,789,000 after buying an additional 357,907 shares during the period. Mesirow Institutional Investment Management Inc. acquired a new position in Alaska Air Group in the second quarter valued at approximately $11,475,000. Finally, Point72 Asset Management L.P. lifted its stake in Alaska Air Group by 8.0% in the second quarter. Point72 Asset Management L.P. now owns 2,969,295 shares of the transportation company's stock valued at $119,960,000 after buying an additional 220,030 shares during the period. 81.90% of the stock is currently owned by institutional investors.

Alaska Air Group Stock Performance

NYSE:ALK traded down $1.54 during trading on Friday, reaching $54.34. The company's stock had a trading volume of 2,211,952 shares, compared to its average volume of 1,645,906. The firm has a market cap of $6.90 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60. The firm has a 50 day moving average of $48.79 and a 200-day moving average of $42.37. Alaska Air Group, Inc. has a 12 month low of $32.62 and a 12 month high of $56.95.

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 the consensus estimate of $2.22 by $0.03. The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate 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 prior year, the company earned $1.83 EPS. Research analysts expect that Alaska Air Group, Inc. will post 4.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ALK. Bank of America boosted their price target on Alaska Air Group from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, September 13th. Melius Research raised Alaska Air Group from a "hold" rating to a "buy" rating and set a $56.00 target price on the stock in a research report on Monday, October 28th. Melius raised Alaska Air Group from a "hold" rating to a "buy" rating and set a $56.00 target price on the stock in a research report on Monday, October 28th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $70.00 target price on shares of Alaska Air Group in a research report on Friday, November 15th. Finally, TD Cowen upped their target price on Alaska Air Group from $50.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Alaska Air Group presently has an average rating of "Moderate Buy" and a consensus target price of $60.08.

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.