Point72 Asset Management L.P. Purchases 220,030 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Point72 Asset Management L.P. grew its holdings in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 8.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,969,295 shares of the transportation company's stock after acquiring an additional 220,030 shares during the quarter. Point72 Asset Management L.P. owned 2.35% of Alaska Air Group worth $119,960,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Altshuler Shaham Ltd bought a new stake in shares of Alaska Air Group in the second quarter worth about $28,000. LifeSteps Financial Inc. bought a new stake in shares of Alaska Air Group in the first quarter worth about $65,000. Parallel Advisors LLC increased its holdings in shares of Alaska Air Group by 28.4% in the fourth quarter. Parallel Advisors LLC now owns 1,688 shares of the transportation company's stock worth $66,000 after acquiring an additional 373 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Alaska Air Group in the second quarter worth about $69,000. Finally, Halpern Financial Inc. acquired a new position in shares of Alaska Air Group during the second quarter worth about $81,000. 81.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ALK has been the subject of several recent research reports. Susquehanna reduced their price objective on Alaska Air Group from $42.00 to $41.00 and set a "neutral" rating for the company in a research report on Tuesday, July 16th. Morgan Stanley reduced their price objective on Alaska Air Group from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Monday, July 22nd. Bank of America upped their price objective on Alaska Air Group from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, September 13th. TD Cowen upped their price objective on Alaska Air Group from $51.00 to $52.00 and gave the stock a "buy" rating in a research report on Friday, September 13th. Finally, Citigroup reduced their price objective on Alaska Air Group from $51.00 to $48.00 and set a "buy" rating for the company in a research report on Thursday, August 29th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.00.

Alaska Air Group Stock Performance

Shares of ALK traded up $0.21 during mid-day trading on Monday, reaching $45.21. The company's stock had a trading volume of 2,568,305 shares, compared to its average volume of 2,275,963. Alaska Air Group, Inc. has a 1-year low of $30.75 and a 1-year high of $46.15. The stock has a market cap of $5.74 billion, a P/E ratio of 24.18, a PEG ratio of 0.54 and a beta of 1.59. The business has a 50-day simple moving average of $37.68 and a two-hundred day simple moving average of $40.16. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55.

Alaska Air Group (NYSE:ALK - Get Free Report) last released its quarterly earnings data 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 company had revenue of $2.90 billion during the quarter, compared to analysts' expectations of $2.94 billion. During the same period last year, the firm posted $3.00 earnings per share. The business's revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts anticipate that Alaska Air Group, Inc. will post 4.62 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.