Retirement Systems of Alabama Cuts Position in Alaska Air Group, Inc. (NYSE:ALK)

Retirement Systems of Alabama decreased its position in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 14.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,846 shares of the transportation company's stock after selling 16,218 shares during the quarter. Retirement Systems of Alabama owned 0.08% of Alaska Air Group worth $6,206,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ALK. Avior Wealth Management LLC lifted its stake in Alaska Air Group by 44.8% in the fourth quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company's stock valued at $38,000 after buying an additional 182 shares during the period. Verdence Capital Advisors LLC increased its stake in shares of Alaska Air Group by 2.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 10,180 shares of the transportation company's stock valued at $460,000 after acquiring an additional 215 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of Alaska Air Group by 2.7% during the 3rd quarter. QRG Capital Management Inc. now owns 9,271 shares of the transportation company's stock valued at $419,000 after acquiring an additional 242 shares during the period. Greenleaf Trust boosted its stake in Alaska Air Group by 5.1% during the fourth quarter. Greenleaf Trust now owns 5,283 shares of the transportation company's stock worth $342,000 after acquiring an additional 258 shares in the last quarter. Finally, First Trust Direct Indexing L.P. boosted its stake in Alaska Air Group by 4.7% during the third quarter. First Trust Direct Indexing L.P. now owns 5,938 shares of the transportation company's stock worth $268,000 after acquiring an additional 267 shares in the last quarter. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Susquehanna upgraded shares of Alaska Air Group from a "neutral" rating to a "positive" rating and set a $95.00 price objective on the stock in a report on Tuesday, January 7th. Barclays upped their price target on Alaska Air Group from $55.00 to $80.00 and gave the stock an "overweight" rating in a research note on Thursday, November 14th. Melius raised Alaska Air Group from a "hold" rating to a "buy" rating and set a $56.00 price objective for the company in a research note on Monday, October 28th. JPMorgan Chase & Co. boosted their price objective on Alaska Air Group from $58.00 to $85.00 and gave the company an "overweight" rating in a report on Wednesday, December 11th. Finally, UBS Group increased their target price on Alaska Air Group from $81.00 to $82.00 and gave the stock a "buy" rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $74.86.

Alaska Air Group Stock Performance

Alaska Air Group stock traded down $1.19 during mid-day trading on Thursday, reaching $72.59. 3,271,778 shares of the company's stock were exchanged, compared to its average volume of 2,818,209. The business's fifty day simple moving average is $67.49 and its 200 day simple moving average is $51.70. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. Alaska Air Group, Inc. has a one year low of $32.62 and a one year high of $76.45. The firm has a market capitalization of $9.21 billion, a PE ratio of 23.80, a P/E/G ratio of 0.67 and a beta of 1.55.

Alaska Air Group (NYSE:ALK - Get Free Report) last released its earnings results on Wednesday, January 22nd. The transportation company reported $0.97 EPS for the quarter, topping analysts' consensus estimates 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, sell-side analysts expect that Alaska Air Group, Inc. will post 6.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Shane R. Tackett sold 22,893 shares of the company's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $75.74, for a total transaction of $1,733,915.82. Following the sale, the chief financial officer now directly owns 31,873 shares in the company, valued at $2,414,061.02. This represents a 41.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Andrea L. Schneider sold 3,700 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $63.50, for a total transaction of $234,950.00. Following the transaction, the senior vice president now directly owns 21,086 shares of the company's stock, valued at approximately $1,338,961. This represents a 14.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 160,441 shares of company stock worth $11,247,722 over the last 90 days. Corporate insiders own 0.68% of the company's stock.

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.