Short Interest in Alaska Air Group, Inc. (NYSE:ALK) Declines By 24.1%

Alaska Air Group, Inc. (NYSE:ALK) saw a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 4,850,000 shares, a drop of 24.1% from the February 28th total of 6,390,000 shares. Based on an average trading volume of 3,340,000 shares, the short-interest ratio is presently 1.5 days. Currently, 4.0% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ALK shares. Bank of America upped their target price on Alaska Air Group from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Citigroup reduced their price target on shares of Alaska Air Group from $83.00 to $81.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. The Goldman Sachs Group increased their price target on shares of Alaska Air Group from $70.00 to $79.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. upped their price objective on shares of Alaska Air Group from $85.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, March 3rd. Finally, TD Cowen boosted their price target on shares of Alaska Air Group from $85.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $77.00.

Insiders Place Their Bets

In related news, CFO Shane R. Tackett sold 22,893 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $75.74, for a total value of $1,733,915.82. Following the completion of the transaction, the chief financial officer now directly owns 31,873 shares of the company’s stock, valued at approximately $2,414,061.02. This trade represents a 41.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Andrew R. Harrison sold 6,600 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $76.28, for a total transaction of $503,448.00. Following the completion of the sale, the executive vice president now owns 34,030 shares in the company, valued at approximately $2,595,808.40. This trade represents a 16.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,725 shares of company stock worth $11,217,263. Company insiders own 0.92% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Maryland State Retirement & Pension System boosted its stake in shares of Alaska Air Group by 0.3% in the 4th quarter. Maryland State Retirement & Pension System now owns 49,905 shares of the transportation company’s stock valued at $3,231,000 after purchasing an additional 147 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Alaska Air Group by 0.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 29,816 shares of the transportation company’s stock worth $1,931,000 after purchasing an additional 160 shares in the last quarter. Avior Wealth Management LLC grew its stake in Alaska Air Group by 44.8% in the fourth quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock valued at $38,000 after acquiring an additional 182 shares during the period. Savant Capital LLC grew its position in shares of Alaska Air Group by 3.4% in the 4th quarter. Savant Capital LLC now owns 6,284 shares of the transportation company’s stock valued at $407,000 after purchasing an additional 206 shares during the period. Finally, Mutual of America Capital Management LLC boosted its holdings in shares of Alaska Air Group by 1.3% in the fourth quarter. Mutual of America Capital Management LLC now owns 19,229 shares of the transportation company’s stock valued at $1,245,000 after buying an additional 254 shares during the period. 81.90% of the stock is owned by institutional investors.

Alaska Air Group Stock Performance

ALK stock opened at $49.04 on Wednesday. Alaska Air Group has a 12 month low of $32.62 and a 12 month high of $78.08. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. The firm has a 50 day moving average of $65.33 and a two-hundred day moving average of $57.79. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 0.43 and a beta of 1.37.

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

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.