2024-01-28 00:47:56
Los Angeles Capital Management LLC lessened its holdings in Alaska Air Group, Inc. (NYSE:ALK – Free Report) by 68.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 302,067 shares of the transportation company’s stock after selling 648,272 shares during the period. Los Angeles Capital Management LLC owned about 0.24% of Alaska Air Group worth $11,201,000 as of its most recent SEC filing.
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Other hedge funds and other institutional investors have also modified their holdings of the company. Private Trust Co. NA boosted its position in shares of Alaska Air Group by 279.0% in the second quarter. Private Trust Co. NA now owns 595 shares of the transportation company’s stock worth $32,000 after buying an additional 438 shares during the period. Covestor Ltd raised its holdings in shares of Alaska Air Group by 416.4% during the first quarter. Covestor Ltd now owns 568 shares of the transportation company’s stock worth $33,000 after acquiring an additional 458 shares in the last quarter. Tucker Asset Management LLC raised its holdings in shares of Alaska Air Group by 448.6% during the second quarter. Tucker Asset Management LLC now owns 812 shares of the transportation company’s stock worth $43,000 after acquiring an additional 664 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Alaska Air Group by 63.4% during the third quarter. Allworth Financial LP now owns 1,297 shares of the transportation company’s stock worth $48,000 after acquiring an additional 503 shares in the last quarter. Finally, NBC Securities Inc. purchased a new stake in shares of Alaska Air Group during the third quarter worth $69,000. Institutional investors and hedge funds own 80.58% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the company. Susquehanna lowered Alaska Air Group from a “positive” rating to a “neutral” rating and increased their price objective for the stock from $39.00 to $40.00 in a report on Wednesday, January 10th. Barclays cut their price objective on Alaska Air Group from $62.00 to $50.00 in a report on Thursday, October 5th. Melius lowered Alaska Air Group from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Deutsche Bank Aktiengesellschaft lowered Alaska Air Group from a “buy” rating to a “hold” rating and cut their price objective for the stock from $55.00 to $44.00 in a report on Monday, December 4th. Finally, StockNews.com lowered Alaska Air Group from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Alaska Air Group currently has a consensus rating of “Hold” and an average target price of $55.43.
Check Out Our Latest Stock Report on ALK
Alaska Air Group Stock Performance
Shares of Alaska Air Group stock traded down $0.65 during trading on Friday, reaching $36.77. The company’s stock had a trading volume of 2,692,220 shares, compared to its average volume of 2,852,707. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.69 and a current ratio of 0.72. The business’s fifty day moving average price is $37.35 and its 200-day moving average price is $39.42. The firm has a market cap of $4.71 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 0.61 and a beta of 1.59. Alaska Air Group, Inc. has a one year low of $30.75 and a one year high of $57.18.
Alaska Air Group (NYSE:ALK – Get Free Report) last posted its quarterly earnings data on Thursday, January 25th. The transportation company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.12. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.53 billion. Alaska Air Group had a return on equity of 14.91% and a net margin of 2.25%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 earnings per share. As a group, equities research analysts predict that Alaska Air Group, Inc. will post 5.15 earnings per share for the current year.
About Alaska Air Group
(Free Report)
Alaska Air Group, Inc, through its subsidiaries, operated airlines. The company operates through three segments: Mainline, Regional, and Horizon. The company offers scheduled air transportation services on Boeing and Airbus jet aircraft for passengers and cargo throughout the United States, and in parts of Mexico, Costa Rica, and Belize; and for passengers across a shorter distance network within the United States and Canada.
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