Alaska Air Group, Inc. (NYSE:ALK) Shares Bought by Quest Partners LLC

Quest Partners LLC boosted its stake in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 1,531,200.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,313 shares of the transportation company's stock after purchasing an additional 15,312 shares during the period. Quest Partners LLC's holdings in Alaska Air Group were worth $692,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC acquired a new stake in Alaska Air Group in the first quarter valued at approximately $280,000. CANADA LIFE ASSURANCE Co grew its stake in shares of Alaska Air Group by 2.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 97,752 shares of the transportation company's stock valued at $4,200,000 after acquiring an additional 2,726 shares in the last quarter. Capital Research Global Investors purchased a new stake in shares of Alaska Air Group during the first quarter worth about $36,993,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Alaska Air Group by 5.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 69,382 shares of the transportation company's stock worth $2,983,000 after acquiring an additional 3,652 shares in the last quarter. Finally, Appian Way Asset Management LP purchased a new position in Alaska Air Group in the first quarter valued at about $2,640,000. 81.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ALK shares. Melius raised Alaska Air Group from a "hold" rating to a "buy" rating and set a $56.00 target price on the stock in a research report on Monday, October 28th. Evercore ISI reduced their price objective on shares of Alaska Air Group from $60.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, October 3rd. Barclays boosted their target price on shares of Alaska Air Group from $55.00 to $80.00 and gave the stock an "overweight" rating in a research report on Thursday, November 14th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $70.00 price target on shares of Alaska Air Group in a research report on Friday, November 15th. Finally, TD Cowen lowered their price objective on Alaska Air Group from $52.00 to $50.00 and set a "buy" rating for the company in a report on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Alaska Air Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.31.

Alaska Air Group Stock Performance

ALK stock traded up $0.12 during mid-day trading on Friday, reaching $52.42. The company had a trading volume of 1,374,216 shares, compared to its average volume of 2,169,842. The stock's 50-day simple moving average is $46.44 and its two-hundred day simple moving average is $41.68. The stock has a market capitalization of $6.65 billion, a P/E ratio of 21.14, a P/E/G ratio of 1.19 and a beta of 1.59. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.93. Alaska Air Group, Inc. has a one year low of $32.00 and a one year high of $54.01.

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