Quantbot Technologies LP Buys 51,096 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Quantbot Technologies LP increased its position in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 156.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 83,777 shares of the transportation company's stock after acquiring an additional 51,096 shares during the quarter. Quantbot Technologies LP owned approximately 0.07% of Alaska Air Group worth $3,788,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALK. Raymond James & Associates grew its stake in shares of Alaska Air Group by 13.5% during the 2nd quarter. Raymond James & Associates now owns 283,581 shares of the transportation company's stock valued at $11,457,000 after buying an additional 33,717 shares during the period. Boston Partners boosted its holdings in Alaska Air Group by 4.1% in the first quarter. Boston Partners now owns 3,966,594 shares of the transportation company's stock valued at $170,533,000 after purchasing an additional 155,403 shares during the last quarter. Comerica Bank increased its position in shares of Alaska Air Group by 88.0% in the 1st quarter. Comerica Bank now owns 174,178 shares of the transportation company's stock worth $7,488,000 after purchasing an additional 81,533 shares during the last quarter. Entropy Technologies LP increased its holdings in Alaska Air Group by 358.9% in the third quarter. Entropy Technologies LP now owns 27,428 shares of the transportation company's stock valued at $1,240,000 after buying an additional 21,451 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Alaska Air Group by 211.7% in the 1st quarter. Cetera Investment Advisers now owns 47,770 shares of the transportation company's stock valued at $2,054,000 after acquiring an additional 32,442 shares during the last quarter. 81.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ALK. Barclays boosted their price objective on Alaska Air Group from $55.00 to $80.00 and gave the stock an "overweight" rating in a research report on Thursday, November 14th. Citigroup decreased their target price on Alaska Air Group from $51.00 to $48.00 and set a "buy" rating on the stock in a report on Thursday, August 29th. Evercore ISI cut their price target on shares of Alaska Air Group from $60.00 to $55.00 and set an "outperform" rating on the stock in a report on Thursday, October 3rd. Bank of America lifted 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, Melius raised shares of Alaska Air Group from a "hold" rating to a "buy" rating and set a $56.00 price target on the stock in a research note on Monday, October 28th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Alaska Air Group currently has an average rating of "Moderate Buy" and a consensus target price of $58.69.

Alaska Air Group Stock Performance

NYSE:ALK traded down $0.28 during midday trading on Wednesday, reaching $52.65. The stock had a trading volume of 934,735 shares, compared to its average volume of 2,247,699. The stock has a market capitalization of $6.68 billion, a P/E ratio of 21.32, a PEG ratio of 1.21 and a beta of 1.59. Alaska Air Group, Inc. has a 1-year low of $32.00 and a 1-year high of $54.14. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57. The firm's fifty day simple moving average is $46.92 and its 200-day simple moving average is $41.80.

Alaska Air Group (NYSE:ALK - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.03. The business had revenue of $3.07 billion during the quarter, compared to analysts' expectations 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 quarter in the previous year, the firm earned $1.83 EPS. On average, equities research analysts forecast that Alaska Air Group, Inc. will post 4.26 EPS for the current fiscal year.

Alaska Air Group Company 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.