Alaska Air Group, Inc. (NYSE:ALK) Position Increased by Entropy Technologies LP

Entropy Technologies LP lifted its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 358.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,428 shares of the transportation company’s stock after acquiring an additional 21,451 shares during the quarter. Entropy Technologies LP’s holdings in Alaska Air Group were worth $1,240,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Altshuler Shaham Ltd acquired a new position in Alaska Air Group in the 2nd quarter worth approximately $28,000. Venturi Wealth Management LLC boosted its holdings in shares of Alaska Air Group by 86.0% during the third quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock worth $46,000 after purchasing an additional 474 shares during the period. Pacifica Partners Inc. grew its holdings in shares of Alaska Air Group by 952.4% during the 3rd quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock valued at $50,000 after acquiring an additional 1,000 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Alaska Air Group in the third quarter valued at about $67,000. Finally, Canada Pension Plan Investment Board acquired a new position in Alaska Air Group in the second quarter worth approximately $69,000. 81.90% of the stock is owned by hedge funds and other institutional investors.

Alaska Air Group Price Performance

Alaska Air Group stock opened at $51.68 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57. The business has a 50 day simple moving average of $44.55 and a 200 day simple moving average of $41.20. Alaska Air Group, Inc. has a one year low of $32.00 and a one year high of $52.70. The company has a market capitalization of $6.56 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 1.16 and a beta of 1.59.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.03. The company had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3 billion. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The company’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted $1.83 earnings per share. On average, sell-side analysts forecast that Alaska Air Group, Inc. will post 4.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Susquehanna raised their target price on Alaska Air Group from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Citigroup decreased their target price on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Melius Research raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Monday, October 28th. TD Cowen dropped their target price on shares of Alaska Air Group from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Finally, Barclays began coverage on Alaska Air Group in a research report on Monday, October 21st. They set an “overweight” rating and a $55.00 price objective for the company. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.17.

Alaska Air Group Company 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.