Assenagon Asset Management S.A. Lowers Holdings in Alaska Air Group, Inc. (NYSE:ALK)

Assenagon Asset Management S.A. reduced its position in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 90.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,870 shares of the transportation company's stock after selling 319,027 shares during the period. Assenagon Asset Management S.A.'s holdings in Alaska Air Group were worth $1,409,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. CVA Family Office LLC grew its holdings in Alaska Air Group by 17.1% during the 1st quarter. CVA Family Office LLC now owns 2,230 shares of the transportation company's stock worth $96,000 after acquiring an additional 325 shares in the last quarter. Parallel Advisors LLC boosted its stake in Alaska Air Group by 28.4% in the fourth quarter. Parallel Advisors LLC now owns 1,688 shares of the transportation company's stock valued at $66,000 after acquiring an additional 373 shares during the period. Gateway Investment Advisers LLC grew its stake in Alaska Air Group by 0.3% during the 1st quarter. Gateway Investment Advisers LLC now owns 153,403 shares of the transportation company's stock worth $6,595,000 after buying an additional 391 shares during the last quarter. Private Advisor Group LLC grew its position in shares of Alaska Air Group by 6.8% during the fourth quarter. Private Advisor Group LLC now owns 6,209 shares of the transportation company's stock worth $243,000 after acquiring an additional 397 shares during the last quarter. Finally, QRG Capital Management Inc. increased its stake in shares of Alaska Air Group by 4.7% in the second quarter. QRG Capital Management Inc. now owns 9,029 shares of the transportation company's stock valued at $365,000 after purchasing an additional 406 shares during the period. 81.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ALK shares. TD Cowen cut their price objective on Alaska Air Group from $58.00 to $51.00 and set a "buy" rating for the company in a report on Wednesday, July 24th. Wolfe Research upgraded shares of Alaska Air Group from a "peer perform" rating to an "outperform" rating and set a $55.00 price target for the company in a report on Friday, May 17th. Susquehanna lowered their price target on Alaska Air Group from $42.00 to $41.00 and set a "neutral" rating for the company in a research note on Tuesday, July 16th. Finally, Morgan Stanley lowered their target price on shares of Alaska Air Group from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Monday, July 22nd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $54.60.

Alaska Air Group Price Performance

Shares of NYSE ALK traded up $1.20 during mid-day trading on Friday, reaching $35.73. The company had a trading volume of 2,163,980 shares, compared to its average volume of 2,209,145. The business's 50-day simple moving average is $37.91 and its 200 day simple moving average is $39.79. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 0.67 and a beta of 1.60. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.63 and a current ratio of 0.65. Alaska Air Group, Inc. has a one year low of $30.75 and a one year high of $46.15.

Alaska Air Group (NYSE:ALK - Get Free Report) last announced its quarterly earnings results on Thursday, July 18th. The transportation company reported $2.55 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.19. Alaska Air Group had a return on equity of 11.97% and a net margin of 2.14%. The company had revenue of $2.90 billion during the quarter, compared to analysts' expectations of $2.94 billion. During the same period in the prior year, the company earned $3.00 EPS. Alaska Air Group's revenue was up 2.1% compared to the same quarter last year. On average, research analysts predict that Alaska Air Group, Inc. will post 4.09 earnings per share for the current fiscal year.

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.