Assenagon Asset Management S.A. Grows Position in Alaska Air Group, Inc. (NYSE:ALK)

Assenagon Asset Management S.A. lifted its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 2,087.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 762,889 shares of the transportation company’s stock after purchasing an additional 728,019 shares during the quarter. Assenagon Asset Management S.A. owned about 0.60% of Alaska Air Group worth $34,490,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Altshuler Shaham Ltd acquired a new position in Alaska Air Group during the second quarter valued at approximately $28,000. Pacifica Partners Inc. lifted 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. Canada Pension Plan Investment Board acquired a new position in shares of Alaska Air Group during the 2nd quarter valued at $69,000. Halpern Financial Inc. purchased a new stake in Alaska Air Group during the 2nd quarter worth $81,000. Finally, GAMMA Investing LLC increased its holdings in Alaska Air Group by 31.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,602 shares of the transportation company’s stock valued at $105,000 after purchasing an additional 626 shares in the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.

Alaska Air Group Price Performance

Shares of ALK stock opened at $45.60 on Friday. The firm has a fifty day moving average of $40.71 and a two-hundred day moving average of $40.64. The firm has a market cap of $5.79 billion, a P/E ratio of 24.39, a P/E/G ratio of 0.66 and a beta of 1.60. Alaska Air Group, Inc. has a 1-year low of $30.75 and a 1-year high of $46.87. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.66.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ALK shares. Morgan Stanley decreased their target price on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Evercore ISI decreased their price target on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, October 3rd. Susquehanna lifted their price objective on shares of Alaska Air Group from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Barclays began coverage on shares of Alaska Air Group in a research report on Monday. They set an “overweight” rating and a $55.00 target price on the stock. Finally, Citigroup lowered their price target on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.80.

Alaska Air Group 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.