New York State Teachers Retirement System Trims Holdings in Alaska Air Group, Inc. (NYSE:ALK)

New York State Teachers Retirement System decreased its stake in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 8.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,453 shares of the transportation company's stock after selling 11,671 shares during the quarter. New York State Teachers Retirement System owned approximately 0.10% of Alaska Air Group worth $5,536,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ALK. Sequoia Financial Advisors LLC purchased a new stake in shares of Alaska Air Group in the first quarter valued at approximately $217,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Alaska Air Group during the 1st quarter valued at $499,000. Janney Montgomery Scott LLC boosted its position in Alaska Air Group by 3.2% during the first quarter. Janney Montgomery Scott LLC now owns 17,780 shares of the transportation company's stock valued at $764,000 after purchasing an additional 559 shares in the last quarter. swisspartners Advisors Ltd grew its stake in Alaska Air Group by 3.4% in the first quarter. swisspartners Advisors Ltd now owns 130,209 shares of the transportation company's stock valued at $5,598,000 after purchasing an additional 4,270 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in Alaska Air Group by 31.7% in the first quarter. Oppenheimer & Co. Inc. now owns 42,133 shares of the transportation company's stock worth $1,811,000 after purchasing an additional 10,137 shares in the last quarter. 81.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Barclays assumed coverage on shares of Alaska Air Group in a report on Monday, October 21st. They issued an "overweight" rating and a $55.00 price target on the stock. Morgan Stanley cut their price target on shares of Alaska Air Group from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Monday, July 22nd. Melius upgraded Alaska Air Group from a "hold" rating to a "buy" rating and set a $56.00 price objective for the company in a report on Monday, October 28th. Melius Research upgraded Alaska Air Group from a "hold" rating to a "buy" rating and set a $56.00 target price on the stock in a research note on Monday, October 28th. Finally, Susquehanna upped their price objective on shares of Alaska Air Group from $40.00 to $45.00 and gave the company a "neutral" rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Alaska Air Group has a consensus rating of "Moderate Buy" and a consensus target price of $54.17.

Alaska Air Group Price Performance

ALK stock traded up $3.06 during trading on Wednesday, hitting $51.62. The stock had a trading volume of 3,084,361 shares, compared to its average volume of 2,279,749. Alaska Air Group, Inc. has a twelve month low of $32.00 and a twelve month high of $51.90. The company's 50-day moving average price is $42.69 and its two-hundred day moving average price is $40.89. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57. The stock has a market capitalization of $6.51 billion, a P/E ratio of 19.59, a PEG ratio of 0.75 and a beta of 1.59.

Alaska Air Group (NYSE:ALK - Get Free Report) last issued 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. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The firm had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3 billion. During the same period in the previous year, the company posted $1.83 earnings per share. The business's revenue was up 8.2% on a year-over-year basis. As a group, research analysts predict that Alaska Air Group, Inc. will post 4.31 EPS for the current fiscal 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.