Teacher Retirement System of Texas Makes New Investment in Alaska Air Group, Inc. (NYSE:ALK)

Teacher Retirement System of Texas acquired a new position in Alaska Air Group, Inc. (NYSE:ALK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,521 shares of the transportation company's stock, valued at approximately $357,000.

Other large investors have also modified their holdings of the company. Avior Wealth Management LLC grew its position in shares of 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 purchasing an additional 182 shares during the period. Pacific Center for Financial Services acquired a new stake in Alaska Air Group during the third quarter worth $45,000. SBI Securities Co. Ltd. purchased a new stake in Alaska Air Group in the 4th quarter valued at about $52,000. Quarry LP lifted its holdings in shares of Alaska Air Group by 259.3% in the 3rd quarter. Quarry LP now owns 1,175 shares of the transportation company's stock worth $53,000 after acquiring an additional 848 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Alaska Air Group during the third quarter worth $59,000. Hedge funds and other institutional investors own 81.90% of the company's stock.

Insider Activity at Alaska Air Group

In related news, EVP Andrew R. Harrison sold 6,600 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $76.28, for a total transaction of $503,448.00. Following the sale, the executive vice president now owns 34,030 shares of the company's stock, valued at $2,595,808.40. This trade represents a 16.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Muehlen Constance E. Von sold 22,157 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $75.12, for a total transaction of $1,664,433.84. Following the completion of the transaction, the chief operating officer now directly owns 20,026 shares of the company's stock, valued at $1,504,353.12. The trade was a 52.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,725 shares of company stock valued at $11,217,263. 0.92% of the stock is owned by corporate insiders.

Remove Ads

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ALK shares. Susquehanna upgraded Alaska Air Group from a "neutral" rating to a "positive" rating and set a $95.00 price objective on the stock in a research note on Tuesday, January 7th. JPMorgan Chase & Co. increased their price target on shares of Alaska Air Group from $85.00 to $89.00 and gave the company an "overweight" rating in a research note on Monday, March 3rd. TD Cowen lifted their price target on Alaska Air Group from $85.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Citigroup reduced their target price on shares of Alaska Air Group from $83.00 to $81.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Finally, Morgan Stanley lifted their target price on Alaska Air Group from $70.00 to $90.00 and gave the company an "overweight" rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $76.23.

Alaska Air Group Price Performance

ALK stock traded down $1.58 during midday trading on Friday, hitting $44.36. 2,535,989 shares of the stock were exchanged, compared to its average volume of 2,547,349. The stock's 50-day moving average price is $64.55 and its 200-day moving average price is $57.67. 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 cap of $5.45 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 0.43 and a beta of 1.37. Alaska Air Group, Inc. has a fifty-two week low of $32.62 and a fifty-two week high of $78.08.

Alaska Air Group (NYSE:ALK - Get Free Report) last released its quarterly earnings data 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 net margin of 3.37% and a return on equity of 14.66%. Research analysts predict that Alaska Air Group, Inc. will post 6.03 earnings per share 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.