11,766 Shares in Alaska Air Group, Inc. (NYSE:ALK) Acquired by Point72 DIFC Ltd

Point72 DIFC Ltd purchased a new position in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,766 shares of the transportation company's stock, valued at approximately $532,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC boosted its stake in Alaska Air Group by 66.5% during the third quarter. Integrated Wealth Concepts LLC now owns 11,392 shares of the transportation company's stock worth $515,000 after buying an additional 4,550 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Alaska Air Group by 0.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 230,360 shares of the transportation company's stock worth $10,415,000 after acquiring an additional 930 shares during the period. Coastwise Capital Group LLC boosted its position in shares of Alaska Air Group by 6.0% during the 3rd quarter. Coastwise Capital Group LLC now owns 5,354 shares of the transportation company's stock valued at $242,000 after acquiring an additional 304 shares during the last quarter. Benjamin Edwards Inc. purchased a new stake in shares of Alaska Air Group in the third quarter valued at about $230,000. Finally, True Wealth Design LLC acquired a new stake in Alaska Air Group during the third quarter worth about $52,000. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ALK shares. The Goldman Sachs Group reiterated a "buy" rating and issued a $70.00 target price on shares of Alaska Air Group in a report on Friday, November 15th. Evercore ISI decreased their price objective on Alaska Air Group from $60.00 to $55.00 and set an "outperform" rating on the stock in a report on Thursday, October 3rd. UBS Group reiterated a "buy" rating and issued a $72.00 price objective on shares of Alaska Air Group in a research report on Tuesday, November 26th. Susquehanna lifted their target price on Alaska Air Group from $40.00 to $45.00 and gave the company a "neutral" rating in a research report on Wednesday, October 9th. Finally, Barclays increased their price target on Alaska Air Group from $55.00 to $80.00 and gave the stock an "overweight" rating in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $60.08.

Alaska Air Group Stock Down 2.8 %

Shares of ALK traded down $1.54 during mid-day trading on Friday, hitting $54.34. 2,211,952 shares of the company's stock were exchanged, compared to its average volume of 1,645,906. The stock's 50-day moving average is $48.79 and its 200-day moving average is $42.38. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60. Alaska Air Group, Inc. has a fifty-two week low of $32.62 and a fifty-two week high of $56.95. The company has a market cap of $6.90 billion, a price-to-earnings ratio of 21.90, a P/E/G ratio of 1.24 and a beta of 1.60.

Alaska Air Group (NYSE:ALK - Get Free Report) last released its earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 2.99% and a return on equity of 12.81%. The firm's quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.83 EPS. On average, sell-side analysts anticipate that Alaska Air Group, Inc. will post 4.26 earnings per share for the current fiscal year.

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.