Hennessy Advisors Inc. Acquires New Shares in Alaska Air Group, Inc. (NYSE:ALK)

Hennessy Advisors Inc. acquired a new stake in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,273,500 shares of the transportation company's stock, valued at approximately $82,459,000. Alaska Air Group makes up approximately 2.5% of Hennessy Advisors Inc.'s portfolio, making the stock its 2nd largest position. Hennessy Advisors Inc. owned 1.00% of Alaska Air Group as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Altshuler Shaham Ltd bought a new stake in shares of Alaska Air Group during the 2nd quarter valued at about $28,000. Pacific Center for Financial Services purchased a new stake in Alaska Air Group in the third quarter valued at approximately $45,000. Venturi Wealth Management LLC lifted its position in Alaska Air Group by 86.0% during the third 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 last quarter. Pacifica Partners Inc. grew its stake in 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. Finally, True Wealth Design LLC bought a new position in shares of Alaska Air Group in the 3rd quarter worth $52,000. Institutional investors own 81.90% of the company's stock.

Alaska Air Group Trading Down 1.6 %

Shares of NYSE ALK traded down $1.07 during trading hours on Friday, hitting $66.35. The company's stock had a trading volume of 2,127,353 shares, compared to its average volume of 2,579,255. Alaska Air Group, Inc. has a 12 month low of $32.62 and a 12 month high of $69.10. The stock has a market cap of $8.42 billion, a price-to-earnings ratio of 26.75, a P/E/G ratio of 0.67 and a beta of 1.54. 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 business has a 50-day simple moving average of $60.18 and a 200-day simple moving average of $47.33.

Alaska Air Group (NYSE:ALK - Get Free Report) last announced its earnings results on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, beating analysts' consensus estimates 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 revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.83 earnings per share. On average, analysts anticipate that Alaska Air Group, Inc. will post 4.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ALK. Morgan Stanley lifted their price objective on shares of Alaska Air Group from $70.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday, December 11th. Barclays upped their price objective on Alaska Air Group from $55.00 to $80.00 and gave the stock an "overweight" rating in a report on Thursday, November 14th. UBS Group raised their price objective on Alaska Air Group from $81.00 to $82.00 and gave the company a "buy" rating in a report on Tuesday, January 7th. The Goldman Sachs Group upped their target price on Alaska Air Group from $70.00 to $79.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Bank of America lifted their price target on shares of Alaska Air Group from $70.00 to $80.00 and gave the stock a "buy" rating in a research note on Friday. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $72.57.

Insiders Place Their Bets

In related news, VP Emily Halverson sold 1,329 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $64.41, for a total value of $85,600.89. Following the completion of the transaction, the vice president now directly owns 7,150 shares in the company, valued at $460,531.50. This trade represents a 15.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Andrew R. Harrison sold 13,880 shares of the business's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $64.01, for a total transaction of $888,458.80. Following the sale, the executive vice president now directly owns 20,638 shares in the company, valued at $1,321,038.38. The trade was a 40.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,473 shares of company stock worth $2,198,342. Company insiders own 0.92% of the company's stock.

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.