Raymond James & Associates Lowers Stock Holdings in Alaska Air Group, Inc. (NYSE:ALK)

Raymond James & Associates lessened its holdings in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 32.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 192,407 shares of the transportation company's stock after selling 91,174 shares during the period. Raymond James & Associates owned approximately 0.15% of Alaska Air Group worth $8,699,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ALK. Altshuler Shaham Ltd purchased a new position in Alaska Air Group in the second quarter worth $28,000. Pacifica Partners Inc. grew its position in Alaska Air Group by 952.4% during the third quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company's stock valued at $50,000 after buying an additional 1,000 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Alaska Air Group during the second quarter worth about $69,000. Halpern Financial Inc. bought a new stake in Alaska Air Group in the second quarter worth about $81,000. Finally, GAMMA Investing LLC boosted its stake in 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 acquiring an additional 626 shares during the last quarter. 81.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on ALK shares. Susquehanna increased their price objective on Alaska Air Group from $40.00 to $45.00 and gave the company a "neutral" rating in a report on Wednesday, October 9th. Melius upgraded Alaska Air Group from a "hold" rating to a "buy" rating and set a $56.00 price target for the company in a research note on Monday. TD Cowen lowered their price objective on Alaska Air Group from $52.00 to $50.00 and set a "buy" rating on the stock in a research note on Thursday, October 3rd. Evercore ISI cut their target price on shares of Alaska Air Group from $60.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, October 3rd. Finally, Bank of America boosted their price target on shares of Alaska Air Group from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, September 13th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $54.17.

Alaska Air Group Price Performance

Shares of NYSE ALK opened at $46.92 on Wednesday. The stock's 50-day simple moving average is $41.41 and its two-hundred day simple moving average is $40.70. Alaska Air Group, Inc. has a twelve month low of $30.75 and a twelve month high of $47.45. The firm has a market capitalization of $5.95 billion, a P/E ratio of 25.09, a P/E/G ratio of 0.66 and a beta of 1.60. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 0.55.

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.