Alaska Air Group, Inc. (NYSE:ALK) Sees Significant Drop in Short Interest

Alaska Air Group, Inc. (NYSE:ALK) was the recipient of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 5,970,000 shares, a drop of 7.7% from the January 15th total of 6,470,000 shares. Based on an average trading volume of 2,720,000 shares, the short-interest ratio is presently 2.2 days.

Alaska Air Group Stock Up 4.3 %

Shares of NYSE:ALK traded up $3.11 during trading hours on Monday, hitting $75.65. The company’s stock had a trading volume of 2,296,571 shares, compared to its average volume of 2,799,872. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.58. The firm’s fifty day moving average price is $68.34 and its 200 day moving average price is $52.43. Alaska Air Group has a 52 week low of $32.62 and a 52 week high of $76.45. The company has a market capitalization of $9.60 billion, a price-to-earnings ratio of 24.80, a P/E/G ratio of 0.67 and a beta of 1.55.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.97 EPS for the quarter, topping 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, research analysts expect that Alaska Air Group will post 6.03 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on ALK shares. JPMorgan Chase & Co. upped their target price on Alaska Air Group from $58.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Barclays increased their target price 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. Bank of America lifted their target price on Alaska Air Group from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. 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 report on Monday, October 28th. Finally, TD Cowen lifted their price objective on shares of Alaska Air Group from $85.00 to $110.00 and gave the company a “buy” rating in a report on Friday, January 24th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.86.

Insider Activity at Alaska Air Group

In related news, CFO Shane R. Tackett sold 22,893 shares of Alaska Air Group stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $75.74, for a total transaction 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. The trade was a 41.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew R. Harrison sold 13,880 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $64.01, for a total transaction of $888,458.80. Following the transaction, the executive vice president now owns 20,638 shares in the company, valued at $1,321,038.38. The trade was a 40.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 160,441 shares of company stock valued at $11,247,722. Insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Alaska Air Group

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its holdings in Alaska Air Group by 22.6% in the third quarter. Blue Trust Inc. now owns 3,144 shares of the transportation company’s stock worth $142,000 after purchasing an additional 579 shares during the last quarter. Jade Capital Advisors LLC boosted its position in shares of Alaska Air Group by 337.5% in the 3rd quarter. Jade Capital Advisors LLC now owns 175,000 shares of the transportation company’s stock worth $7,912,000 after purchasing an additional 135,000 shares in the last quarter. Plan Group Financial LLC purchased a new position in Alaska Air Group during the 3rd quarter worth $356,000. International Assets Investment Management LLC acquired a new position in Alaska Air Group during the 3rd quarter valued at about $86,270,000. Finally, Assenagon Asset Management S.A. raised its stake in Alaska Air Group by 2,087.8% in the third 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 last quarter. Institutional investors own 81.90% of the company’s stock.

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.