Public Sector Pension Investment Board Cuts Position in Alaska Air Group, Inc. (NYSE:ALK)

Public Sector Pension Investment Board cut its stake in Alaska Air Group, Inc. (NYSE:ALK) by 4.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 267,701 shares of the transportation company’s stock after selling 11,500 shares during the period. Public Sector Pension Investment Board owned about 0.21% of Alaska Air Group worth $12,103,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new position in Alaska Air Group in the second quarter worth $28,000. Venturi Wealth Management LLC grew its position in Alaska Air Group by 86.0% in the third quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock worth $46,000 after acquiring an additional 474 shares in the last quarter. Pacifica Partners Inc. grew its position in Alaska Air Group by 952.4% in the third quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock worth $50,000 after acquiring an additional 1,000 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Alaska Air Group in the third quarter worth $67,000. Finally, Canada Pension Plan Investment Board bought a new stake in Alaska Air Group in the second quarter worth $69,000. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

Alaska Air Group Price Performance

Shares of ALK opened at $52.68 on Friday. The stock has a market cap of $6.69 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 1.21 and a beta of 1.59. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60. Alaska Air Group, Inc. has a fifty-two week low of $32.00 and a fifty-two week high of $54.14. The firm’s 50-day simple moving average is $47.18 and its two-hundred day simple moving average is $41.88.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ALK. UBS Group reissued a “buy” rating and issued a $72.00 price target on shares of Alaska Air Group in a research note on Tuesday. Bank of America boosted their price target on shares of Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. The Goldman Sachs Group reissued a “buy” rating and issued a $70.00 price target on shares of Alaska Air Group in a research note on Friday, November 15th. Susquehanna boosted their price target on shares of Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Melius Research raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.69.

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.