Alaska Air Group, Inc. (NYSE:ALK) Stock Holdings Lessened by Point72 Asset Management L.P.

Point72 Asset Management L.P. cut its position in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 69.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 911,944 shares of the transportation company's stock after selling 2,057,351 shares during the period. Point72 Asset Management L.P. owned approximately 0.72% of Alaska Air Group worth $41,229,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Raymond James & Associates grew its holdings in Alaska Air Group by 13.5% during the second quarter. Raymond James & Associates now owns 283,581 shares of the transportation company's stock worth $11,457,000 after acquiring an additional 33,717 shares during the period. Entropy Technologies LP grew its holdings in Alaska Air Group by 358.9% during the third quarter. Entropy Technologies LP now owns 27,428 shares of the transportation company's stock worth $1,240,000 after acquiring an additional 21,451 shares during the period. Cetera Investment Advisers grew its holdings in Alaska Air Group by 211.7% during the first quarter. Cetera Investment Advisers now owns 47,770 shares of the transportation company's stock worth $2,054,000 after acquiring an additional 32,442 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Alaska Air Group by 45.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,247 shares of the transportation company's stock worth $64,300,000 after acquiring an additional 442,331 shares during the period. Finally, Quantbot Technologies LP grew its holdings in Alaska Air Group by 156.3% during the third quarter. Quantbot Technologies LP now owns 83,777 shares of the transportation company's stock worth $3,788,000 after acquiring an additional 51,096 shares during the period. 81.90% of the stock is owned by institutional investors and hedge funds.

Alaska Air Group Trading Up 2.7 %

Alaska Air Group stock traded up $1.47 during midday trading on Thursday, reaching $55.88. The stock had a trading volume of 2,828,503 shares, compared to its average volume of 2,238,061. Alaska Air Group, Inc. has a twelve month low of $32.62 and a twelve month high of $56.95. The stock has a market capitalization of $7.09 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 1.19 and a beta of 1.60. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60. The stock's 50-day simple moving average is $48.38 and its 200 day simple moving average is $42.21.

Alaska Air Group (NYSE:ALK - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.22 by $0.03. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The firm's revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company posted $1.83 earnings per share. Analysts expect that Alaska Air Group, Inc. will post 4.26 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ALK. The Goldman Sachs Group reiterated a "buy" rating and set a $70.00 price target on shares of Alaska Air Group in a research report on Friday, November 15th. Melius Research upgraded Alaska Air Group from a "hold" rating to a "buy" rating and set a $56.00 price objective on the stock in a research report on Monday, October 28th. Evercore ISI reduced their price objective on Alaska Air Group from $60.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, October 3rd. Melius upgraded Alaska Air Group from a "hold" rating to a "buy" rating and set a $56.00 price objective on the stock in a research report on Monday, October 28th. Finally, Susquehanna lifted their price objective on Alaska Air Group from $40.00 to $45.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $60.08.

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.