Public Sector Pension Investment Board Sells 11,500 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Public Sector Pension Investment Board cut its stake in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 267,701 shares of the transportation company's stock after selling 11,500 shares during the period. Public Sector Pension Investment Board owned 0.21% of Alaska Air Group worth $12,103,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Altshuler Shaham Ltd purchased a new stake in Alaska Air Group in the 2nd quarter worth approximately $28,000. Venturi Wealth Management LLC increased its holdings in shares of Alaska Air Group by 86.0% in the third quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company's stock worth $46,000 after purchasing an additional 474 shares during the period. Pacifica Partners Inc. raised its position 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 worth $50,000 after buying an additional 1,000 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Alaska Air Group during the third quarter valued at $67,000. Finally, Canada Pension Plan Investment Board purchased a new position in Alaska Air Group during the second quarter worth about $69,000. 81.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on ALK. Susquehanna raised 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. The Goldman Sachs Group reissued a "buy" rating and issued a $70.00 price target on shares of Alaska Air Group in a research note on Friday, November 15th. Melius raised shares of Alaska Air Group from a "hold" rating to a "buy" rating and set a $56.00 price objective for the company in a report on Monday, October 28th. Bank of America increased their target price on Alaska Air Group from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, September 13th. Finally, Evercore ISI cut their price objective on Alaska Air Group from $60.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Alaska Air Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.69.

Alaska Air Group Trading Down 0.2 %

Alaska Air Group stock traded down $0.08 during trading hours on Friday, reaching $52.60. The stock had a trading volume of 649,334 shares, compared to its average volume of 2,240,781. The stock has a market cap of $6.68 billion, a PE ratio of 21.26, a PEG ratio of 1.20 and a beta of 1.59. The company has a fifty day simple moving average of $47.44 and a 200-day simple moving average of $41.95. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57. Alaska Air Group, Inc. has a 52 week low of $32.00 and a 52 week high of $54.14.

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