Alaska Air Group, Inc. (NYSE:ALK) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its position in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 41.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 230,500 shares of the transportation company's stock after selling 162,100 shares during the quarter. Renaissance Technologies LLC owned about 0.18% of Alaska Air Group worth $14,925,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALK. Avior Wealth Management LLC increased its holdings in shares of Alaska Air Group by 44.8% during the 4th quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company's stock worth $38,000 after buying an additional 182 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Alaska Air Group in the 4th quarter valued at $52,000. EverSource Wealth Advisors LLC grew its holdings in shares of Alaska Air Group by 61.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company's stock worth $62,000 after purchasing an additional 364 shares during the period. Millstone Evans Group LLC acquired a new stake in shares of Alaska Air Group during the 4th quarter worth about $76,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Alaska Air Group in the 3rd quarter valued at about $59,000. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alaska Air Group news, EVP Andrew R. Harrison sold 91,745 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $71.14, for a total value of $6,526,739.30. Following the completion of the transaction, the executive vice president now directly owns 20,638 shares of the company's stock, valued at approximately $1,468,187.32. This trade represents a 81.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Joseph A. Sprague sold 9,500 shares of the company's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $68.90, for a total value of $654,550.00. Following the completion of the sale, the chief executive officer now owns 9,840 shares in the company, valued at approximately $677,976. This represents a 49.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 154,725 shares of company stock valued at $11,217,263. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ALK shares. Citigroup cut their target price on Alaska Air Group from $83.00 to $81.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Susquehanna dropped their target price on Alaska Air Group from $95.00 to $55.00 and set a "positive" rating for the company in a research report on Monday, April 7th. The Goldman Sachs Group raised their price objective on shares of Alaska Air Group from $70.00 to $79.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. Barclays cut their target price on shares of Alaska Air Group from $80.00 to $62.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, UBS Group downgraded shares of Alaska Air Group from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $75.00 to $54.00 in a research note on Monday, April 7th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Alaska Air Group has an average rating of "Moderate Buy" and a consensus price target of $70.15.

Alaska Air Group Stock Performance

Shares of ALK stock traded up $0.43 during mid-day trading on Friday, hitting $45.08. 2,267,011 shares of the stock were exchanged, compared to its average volume of 2,589,886. Alaska Air Group, Inc. has a 12-month low of $32.62 and a 12-month high of $78.08. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.61. The stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of 14.78, a P/E/G ratio of 0.43 and a beta of 1.37. The stock's fifty day simple moving average is $57.21 and its two-hundred day simple moving average is $58.02.

Alaska Air Group (NYSE:ALK - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The transportation company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.45 by $0.52. Alaska Air Group had a return on equity of 14.66% and a net margin of 3.37%. On average, analysts forecast that Alaska Air Group, Inc. will post 6.03 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.