California State Teachers Retirement System trimmed its stake in Alaska Air Group, Inc. (NYSE:ALK) by 9.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 215,965 shares of the transportation company’s stock after selling 23,480 shares during the quarter. California State Teachers Retirement System owned approximately 0.17% of Alaska Air Group worth $19,385,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. grew its holdings in shares of Alaska Air Group by 57.9% in the 2nd quarter. Bessemer Group Inc. now owns 1,895 shares of the transportation company’s stock worth $171,000 after acquiring an additional 695 shares during the last quarter. Rehmann Capital Advisory Group acquired a new position in shares of Alaska Air Group in the 2nd quarter worth $201,000. Insight Capital Research & Management Inc. acquired a new position in shares of Alaska Air Group in the 2nd quarter worth $215,000. Smithfield Trust Co. grew its holdings in shares of Alaska Air Group by 8.6% in the 2nd quarter. Smithfield Trust Co. now owns 2,391 shares of the transportation company’s stock worth $215,000 after acquiring an additional 189 shares during the last quarter. Finally, Pacer Advisors Inc. grew its holdings in shares of Alaska Air Group by 8.1% in the 2nd quarter. Pacer Advisors Inc. now owns 2,405 shares of the transportation company’s stock worth $216,000 after acquiring an additional 181 shares during the last quarter. Institutional investors and hedge funds own 87.72% of the company’s stock.

Shares of Alaska Air Group, Inc. (ALK) opened at 81.49 on Tuesday. Alaska Air Group, Inc. has a 12 month low of $69.12 and a 12 month high of $101.43. The firm has a market cap of $10.07 billion, a PE ratio of 13.25 and a beta of 0.99. The stock has a 50 day moving average price of $76.26 and a 200 day moving average price of $84.51.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.52 by ($0.01). The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.10 billion. Alaska Air Group had a return on equity of 30.04% and a net margin of 11.02%. The business’s quarterly revenue was up 40.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.12 EPS. On average, equities research analysts expect that Alaska Air Group, Inc. will post $7.43 EPS for the current year.

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In other Alaska Air Group news, EVP Andrew R. Harrison sold 2,350 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $86.03, for a total transaction of $202,170.50. Following the completion of the transaction, the executive vice president now owns 21,328 shares in the company, valued at approximately $1,834,847.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Bradley D. Tilden sold 2,400 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $85.83, for a total value of $205,992.00. Following the transaction, the chairman now owns 140,346 shares of the company’s stock, valued at approximately $12,045,897.18. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by corporate insiders.

A number of equities analysts recently issued reports on ALK shares. ValuEngine cut Alaska Air Group from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub cut Alaska Air Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Zacks Investment Research cut Alaska Air Group from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Morgan Stanley decreased their target price on Alaska Air Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a report on Monday, July 17th. Finally, Cowen and Company restated a “buy” rating and issued a $103.00 target price on shares of Alaska Air Group in a report on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $103.15.

Alaska Air Group Company Profile

Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska), Virgin America Inc, Horizon Air (Horizon) and other business units. The Company operates through three segments: Mainline, Regional and Horizon. Its Mainline segment includes Alaska’s and Virgin America’s scheduled air transportation for passengers and cargo throughout the United States, and in parts of Canada, Mexico, Costa Rica and Cuba.

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Institutional Ownership by Quarter for Alaska Air Group (NYSE:ALK)

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