Levin Capital Strategies L.P. Has $3.42 Million Position in Alaska Air Group, Inc. $ALK

Levin Capital Strategies L.P. increased its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 79.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,010 shares of the transportation company’s stock after buying an additional 30,490 shares during the period. Levin Capital Strategies L.P. owned about 0.06% of Alaska Air Group worth $3,415,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ALK. Brighton Jones LLC boosted its position in Alaska Air Group by 2,046.4% during the 4th quarter. Brighton Jones LLC now owns 96,932 shares of the transportation company’s stock worth $6,276,000 after buying an additional 92,416 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Alaska Air Group during the 1st quarter worth approximately $128,000. KBC Group NV acquired a new stake in Alaska Air Group during the 1st quarter worth approximately $76,000. Teacher Retirement System of Texas boosted its position in Alaska Air Group by 172.7% during the 1st quarter. Teacher Retirement System of Texas now owns 15,058 shares of the transportation company’s stock worth $741,000 after buying an additional 9,537 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Alaska Air Group by 8.9% during the 1st quarter. Bank of New York Mellon Corp now owns 971,938 shares of the transportation company’s stock worth $47,839,000 after buying an additional 79,099 shares during the period. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Cantor Fitzgerald set a $65.00 target price on shares of Alaska Air Group in a research report on Monday. Barclays lifted their target price on shares of Alaska Air Group from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Evercore ISI lowered their price target on shares of Alaska Air Group from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Tuesday, September 16th. Zacks Research lowered shares of Alaska Air Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Alaska Air Group in a report on Wednesday, October 8th. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Alaska Air Group presently has an average rating of “Moderate Buy” and a consensus price target of $73.08.

Alaska Air Group Stock Down 1.7%

Alaska Air Group stock opened at $41.01 on Tuesday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.49 and a current ratio of 0.52. Alaska Air Group, Inc. has a 52-week low of $39.79 and a 52-week high of $78.08. The firm has a 50 day moving average price of $53.04 and a two-hundred day moving average price of $51.77. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 0.80 and a beta of 1.40.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings data on Thursday, October 23rd. The transportation company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.06). The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.75 billion. Alaska Air Group had a net margin of 1.06% and a return on equity of 8.93%. The business’s revenue was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.25 EPS. Equities analysts predict that Alaska Air Group, Inc. will post 6.03 EPS for the current year.

Insider Buying and Selling at Alaska Air Group

In other news, SVP Kyle B. Levine sold 5,914 shares of Alaska Air Group stock in a transaction on Monday, August 18th. The shares were sold at an average price of $57.75, for a total value of $341,533.50. Following the completion of the sale, the senior vice president owned 20,917 shares in the company, valued at $1,207,956.75. The trade was a 22.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Shane R. Tackett sold 5,000 shares of Alaska Air Group stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $57.06, for a total transaction of $285,300.00. Following the completion of the sale, the chief financial officer owned 43,335 shares of the company’s stock, valued at $2,472,695.10. This represents a 10.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.00% of the company’s stock.

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.