Independent Advisor Alliance Sells 6,189 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Independent Advisor Alliance trimmed its stake in Alaska Air Group, Inc. (NYSE:ALKGet Rating) by 46.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,210 shares of the transportation company’s stock after selling 6,189 shares during the period. Independent Advisor Alliance’s holdings in Alaska Air Group were worth $418,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Crewe Advisors LLC raised its stake in shares of Alaska Air Group by 10,750.0% in the 1st quarter. Crewe Advisors LLC now owns 651 shares of the transportation company’s stock valued at $38,000 after acquiring an additional 645 shares in the last quarter. Capital Advisory Group Advisory Services LLC bought a new position in shares of Alaska Air Group in the 1st quarter valued at approximately $38,000. Larson Financial Group LLC bought a new position in shares of Alaska Air Group in the 4th quarter valued at approximately $65,000. Geneos Wealth Management Inc. raised its stake in shares of Alaska Air Group by 57.2% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,511 shares of the transportation company’s stock valued at $78,000 after acquiring an additional 550 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in shares of Alaska Air Group by 20.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 1,400 shares of the transportation company’s stock valued at $81,000 after acquiring an additional 236 shares in the last quarter. 72.26% of the stock is owned by institutional investors.

Alaska Air Group Price Performance

Shares of NYSE:ALK opened at $46.55 on Friday. Alaska Air Group, Inc. has a 1-year low of $38.19 and a 1-year high of $63.76. The firm has a market capitalization of $5.87 billion, a PE ratio of 28.73 and a beta of 1.46. The business’s 50 day moving average is $43.14 and its 200-day moving average is $49.81. The company has a current ratio of 0.86, a quick ratio of 0.84 and a debt-to-equity ratio of 0.52.

Alaska Air Group (NYSE:ALKGet Rating) last announced its quarterly earnings data on Thursday, July 21st. The transportation company reported $2.19 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.24. Alaska Air Group had a return on equity of 8.97% and a net margin of 2.54%. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the firm earned ($0.30) EPS. Alaska Air Group’s revenue for the quarter was up 74.1% compared to the same quarter last year. Sell-side analysts predict that Alaska Air Group, Inc. will post 4.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price on Alaska Air Group from $97.00 to $103.00 and gave the company an “overweight” rating in a report on Friday, April 22nd. StockNews.com raised Alaska Air Group from a “hold” rating to a “buy” rating in a report on Friday, July 22nd. Barclays lowered their target price on Alaska Air Group from $61.00 to $45.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 12th. Raymond James lowered Alaska Air Group from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $75.00 to $58.00 in a report on Thursday, June 23rd. Finally, Morgan Stanley lowered their target price on Alaska Air Group from $73.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, July 25th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $66.44.

Insider Activity at Alaska Air Group

In related news, EVP Andrew R. Harrison sold 2,267 shares of the business’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $44.13, for a total value of $100,042.71. Following the sale, the executive vice president now owns 14,152 shares of the company’s stock, valued at approximately $624,527.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Andrew R. Harrison sold 2,267 shares of the business’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $44.13, for a total value of $100,042.71. Following the sale, the executive vice president now owns 14,152 shares of the company’s stock, valued at approximately $624,527.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Shane R. Tackett sold 2,000 shares of the business’s stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $46.97, for a total value of $93,940.00. Following the completion of the sale, the chief financial officer now directly owns 9,966 shares in the company, valued at approximately $468,103.02. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.

Alaska Air Group Company Profile

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Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It flies to approximately 120 destinations throughout North America. Alaska Air Group, Inc was founded in 1932 and is based in Seattle, Washington.

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

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