Alaska Air Group, Inc. (NYSE:ALK) Shares Sold by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd cut its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 19.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,178 shares of the transportation company’s stock after selling 4,562 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Alaska Air Group were worth $867,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its holdings in shares of Alaska Air Group by 2,087.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 762,889 shares of the transportation company’s stock valued at $34,490,000 after buying an additional 728,019 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Alaska Air Group by 45.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,247 shares of the transportation company’s stock valued at $64,300,000 after acquiring an additional 442,331 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Alaska Air Group by 5.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company’s stock valued at $262,789,000 after purchasing an additional 357,907 shares during the last quarter. Mesirow Institutional Investment Management Inc. acquired a new stake in shares of Alaska Air Group during the 2nd quarter worth approximately $11,475,000. Finally, FMR LLC raised its position 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 worth $49,037,000 after purchasing an additional 265,343 shares during the period. Institutional investors and hedge funds own 81.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ALK shares. Barclays upped their price objective on Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Citigroup dropped their price objective on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. TD Cowen reduced their target price on shares of Alaska Air Group from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Melius Research upgraded 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 note on Monday, October 28th. Finally, UBS Group reissued a “buy” rating and issued a $72.00 price objective on shares of Alaska Air Group in a report on Tuesday, November 26th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Alaska Air Group currently has a consensus rating of “Moderate Buy” and an average target price of $58.69.

Alaska Air Group Stock Down 0.2 %

ALK stock opened at $52.60 on Monday. 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 firm has a market cap of $6.68 billion, a PE ratio of 21.21, a P/E/G ratio of 1.19 and a beta of 1.59. Alaska Air Group, Inc. has a 12 month low of $32.00 and a 12 month high of $54.14. The firm has a 50 day simple moving average of $47.69 and a 200 day simple moving average of $42.00.

Alaska Air Group (NYSE:ALK) last released 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 business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company posted $1.83 EPS. Equities research analysts forecast that Alaska Air Group, Inc. will post 4.26 earnings per share for the current fiscal year.

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.