Assenagon Asset Management S.A. Grows Stock Position in Alaska Air Group, Inc. (NYSE:ALK)

Assenagon Asset Management S.A. grew its position in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 2,087.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 762,889 shares of the transportation company's stock after acquiring an additional 728,019 shares during the quarter. Assenagon Asset Management S.A. owned about 0.60% of Alaska Air Group worth $34,490,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Altshuler Shaham Ltd acquired a new stake in shares of Alaska Air Group in the second quarter valued at approximately $28,000. Pacifica Partners Inc. increased its holdings in shares of Alaska Air Group by 952.4% in the third quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company's stock valued at $50,000 after purchasing an additional 1,000 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Alaska Air Group in the second quarter valued at approximately $69,000. Halpern Financial Inc. acquired a new stake in shares of Alaska Air Group in the second quarter valued at approximately $81,000. Finally, GAMMA Investing LLC increased its holdings in shares of Alaska Air Group by 31.7% in the second quarter. GAMMA Investing LLC now owns 2,602 shares of the transportation company's stock valued at $105,000 after purchasing an additional 626 shares during the last quarter. Institutional investors and hedge funds own 81.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ALK. Susquehanna increased their price target on Alaska Air Group from $40.00 to $45.00 and gave the company a "neutral" rating in a report on Wednesday, October 9th. Citigroup cut their target price 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. Morgan Stanley cut their target price 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. TD Cowen cut their target price on Alaska Air Group from $52.00 to $50.00 and set a "buy" rating for the company in a research note on Thursday, October 3rd. Finally, Bank of America raised their target price on Alaska Air Group from $50.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday, September 13th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $53.80.

Alaska Air Group Trading Down 0.2 %

Shares of NYSE ALK traded down $0.07 during trading on Friday, reaching $45.54. The stock had a trading volume of 1,339,120 shares, compared to its average volume of 2,268,861. Alaska Air Group, Inc. has a fifty-two week low of $30.75 and a fifty-two week high of $46.87. 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 business's 50-day moving average price is $40.71 and its 200-day moving average price is $40.64. The company has a market cap of $5.78 billion, a P/E ratio of 24.52, a PEG ratio of 0.66 and a beta of 1.60.

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.