ARGA Investment Management LP Grows Position in Alaska Air Group, Inc. (NYSE:ALK)

ARGA Investment Management LP lifted its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 8.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,045,102 shares of the transportation company’s stock after purchasing an additional 80,442 shares during the quarter. Alaska Air Group comprises 2.2% of ARGA Investment Management LP’s investment portfolio, making the stock its 17th biggest holding. ARGA Investment Management LP owned approximately 0.82% of Alaska Air Group worth $67,670,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of Alaska Air Group by 32.4% during the 3rd quarter. FMR LLC now owns 1,084,639 shares of the transportation company’s stock valued at $49,037,000 after buying an additional 265,343 shares in the last quarter. Bank of Montreal Can boosted its stake in Alaska Air Group by 54.7% during the third quarter. Bank of Montreal Can now owns 57,577 shares of the transportation company’s stock worth $2,591,000 after acquiring an additional 20,347 shares in the last quarter. Friedenthal Financial bought a new stake in Alaska Air Group during the fourth quarter worth about $772,000. Entropy Technologies LP grew its holdings in Alaska Air Group by 358.9% in the third quarter. Entropy Technologies LP now owns 27,428 shares of the transportation company’s stock worth $1,240,000 after purchasing an additional 21,451 shares during the period. Finally, Quantbot Technologies LP increased its stake in shares of Alaska Air Group by 156.3% during the third quarter. Quantbot Technologies LP now owns 83,777 shares of the transportation company’s stock valued at $3,788,000 after purchasing an additional 51,096 shares in the last quarter. 81.90% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alaska Air Group

In other news, SVP Andrea L. Schneider sold 800 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $63.89, for a total value of $51,112.00. Following the completion of the sale, the senior vice president now directly owns 20,286 shares in the company, valued at $1,296,072.54. This represents a 3.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Joseph A. Sprague sold 2,325 shares of Alaska Air Group stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $64.38, for a total value of $149,683.50. Following the transaction, the chief executive officer now owns 19,340 shares in the company, valued at $1,245,109.20. This trade represents a 10.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,548 shares of company stock worth $9,513,807 in the last quarter. Company insiders own 0.92% of the company’s stock.

Alaska Air Group Price Performance

Shares of ALK opened at $75.56 on Wednesday. The firm has a market cap of $9.59 billion, a PE ratio of 24.77, a P/E/G ratio of 0.66 and a beta of 1.55. Alaska Air Group, Inc. has a 1-year low of $32.62 and a 1-year high of $75.98. 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 firm has a fifty day simple moving average of $64.58 and a two-hundred day simple moving average of $50.13.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.52. Alaska Air Group had a return on equity of 14.66% and a net margin of 3.37%. On average, equities analysts anticipate that Alaska Air Group, Inc. will post 6.03 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on ALK. Melius Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Monday, October 28th. The Goldman Sachs Group increased their target price on Alaska Air Group from $70.00 to $79.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. UBS Group lifted their price target on Alaska Air Group from $81.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. upped their price target on shares of Alaska Air Group from $58.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, Citigroup raised their price objective on shares of Alaska Air Group from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, December 16th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Alaska Air Group presently has an average rating of “Moderate Buy” and an average price target of $74.86.

About Alaska Air Group

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.