Victory Capital Management Inc. Has $1.03 Million Position in Alaska Air Group, Inc. (NYSE:ALK)

Victory Capital Management Inc. lowered its holdings in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 99.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,458 shares of the transportation company's stock after selling 5,670,860 shares during the quarter. Victory Capital Management Inc.'s holdings in Alaska Air Group were worth $1,029,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALK. Boston Partners grew its holdings in shares of Alaska Air Group by 4.1% during the 1st quarter. Boston Partners now owns 3,966,594 shares of the transportation company's stock worth $170,533,000 after purchasing an additional 155,403 shares in the last quarter. Clearbridge Investments LLC raised its position in Alaska Air Group by 8.6% in the 1st quarter. Clearbridge Investments LLC now owns 1,063,379 shares of the transportation company's stock valued at $45,715,000 after purchasing an additional 83,868 shares during the last quarter. Bank of New York Mellon Corp raised its position in Alaska Air Group by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,016,106 shares of the transportation company's stock valued at $41,051,000 after purchasing an additional 8,423 shares during the last quarter. Frontier Capital Management Co. LLC raised its position in Alaska Air Group by 238.8% in the 4th quarter. Frontier Capital Management Co. LLC now owns 869,045 shares of the transportation company's stock valued at $33,954,000 after purchasing an additional 612,575 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in Alaska Air Group by 35.0% in the 1st quarter. Russell Investments Group Ltd. now owns 862,376 shares of the transportation company's stock valued at $37,074,000 after purchasing an additional 223,725 shares during the last quarter. Institutional investors and hedge funds own 81.90% of the company's stock.

Alaska Air Group Trading Up 1.2 %

NYSE:ALK traded up $0.46 on Friday, reaching $40.02. The company's stock had a trading volume of 3,347,387 shares, compared to its average volume of 2,248,246. Alaska Air Group, Inc. has a 1-year low of $30.75 and a 1-year high of $46.15. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.66 and a current ratio of 0.68. The firm has a market cap of $5.08 billion, a PE ratio of 21.40, a PEG ratio of 0.60 and a beta of 1.59. The business's 50-day moving average price is $37.13 and its two-hundred day moving average price is $39.88.

Alaska Air Group (NYSE:ALK - Get Free Report) last posted its earnings results on Thursday, July 18th. The transportation company reported $2.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.19. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. The firm had revenue of $2.90 billion during the quarter, compared to analysts' expectations of $2.94 billion. During the same period in the previous year, the firm earned $3.00 earnings per share. The company's revenue was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Alaska Air Group, Inc. will post 4.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ALK shares. Bank of America lifted their price objective on Alaska Air Group from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, September 13th. Susquehanna decreased their price objective 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. TD Cowen lifted their price objective on Alaska Air Group from $51.00 to $52.00 and gave the stock a "buy" rating in a research note on Friday, September 13th. Morgan Stanley decreased their price objective on Alaska Air Group from $75.00 to $70.00 and set an "overweight" rating for the company in a research note on Monday, July 22nd. Finally, Citigroup decreased their price objective on Alaska Air Group from $51.00 to $48.00 and set a "buy" rating for the company in a research note on Thursday, August 29th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Alaska Air Group currently has a consensus rating of "Moderate Buy" and an average price target of $54.00.

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.