Wedbush Securities Inc. Makes New $331,000 Investment in Alaska Air Group, Inc. (NYSE:ALK)

Wedbush Securities Inc. purchased a new position in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,105 shares of the transportation company's stock, valued at approximately $331,000.

Several other large investors have also modified their holdings of the business. Maryland State Retirement & Pension System lifted its stake in shares of Alaska Air Group by 0.3% during the fourth quarter. Maryland State Retirement & Pension System now owns 49,905 shares of the transportation company's stock worth $3,231,000 after buying an additional 147 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Alaska Air Group by 0.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 29,816 shares of the transportation company's stock valued at $1,931,000 after purchasing an additional 160 shares during the period. Avior Wealth Management LLC increased its holdings in Alaska Air Group by 44.8% in the 4th quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company's stock worth $38,000 after acquiring an additional 182 shares in the last quarter. Savant Capital LLC lifted its position in shares of Alaska Air Group by 3.4% in the fourth quarter. Savant Capital LLC now owns 6,284 shares of the transportation company's stock valued at $407,000 after acquiring an additional 206 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its stake in Alaska Air Group by 1.3% during the 4th quarter. Mutual of America Capital Management LLC now owns 19,229 shares of the transportation company's stock worth $1,245,000 after purchasing an additional 254 shares during the last quarter. Institutional investors own 81.90% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ALK. Bank of America dropped their price objective on shares of Alaska Air Group from $80.00 to $70.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. The Goldman Sachs Group lifted their price target on Alaska Air Group from $70.00 to $79.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. 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. Barclays decreased their price objective on Alaska Air Group from $80.00 to $62.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Citigroup reduced 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. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, Alaska Air Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $70.15.

Alaska Air Group Stock Up 3.3 %

ALK stock traded up $1.47 during trading on Tuesday, hitting $46.48. 620,902 shares of the company's stock were exchanged, compared to its average volume of 2,594,754. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 0.43 and a beta of 1.37. Alaska Air Group, Inc. has a 52-week low of $32.62 and a 52-week high of $78.08. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04. The business has a 50-day moving average price of $59.56 and a two-hundred day moving average price of $57.99.

Alaska Air Group (NYSE:ALK - Get Free Report) last announced 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 net margin of 3.37% and a return on equity of 14.66%. As a group, equities research analysts expect that Alaska Air Group, Inc. will post 6.03 EPS for the current year.

Insider Activity

In other Alaska Air Group news, EVP Andrew R. Harrison sold 91,745 shares of the firm's stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $71.14, for a total transaction of $6,526,739.30. Following 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 position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Andrea L. Schneider sold 1,830 shares of the company's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $73.32, for a total transaction of $134,175.60. Following the completion of the sale, the senior vice president now directly owns 20,286 shares of the company's stock, valued at $1,487,369.52. The trade was a 8.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 154,725 shares of company stock valued at $11,217,263. 0.68% of the stock is currently owned by company insiders.

Alaska Air Group 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.