North Forty Two & Co. Makes New Investment in Alaska Air Group, Inc. (NYSE:ALK)

North Forty Two & Co. purchased a new position in shares of Alaska Air Group, Inc. (NYSE:ALK) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,840 shares of the transportation company’s stock, valued at approximately $249,000.

Other large investors also recently added to or reduced their stakes in the company. Avior Wealth Management LLC lifted its stake in Alaska Air Group by 44.8% during the fourth quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock worth $38,000 after purchasing an additional 182 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Alaska Air Group in the fourth quarter valued at $52,000. EverSource Wealth Advisors LLC raised its stake in shares of Alaska Air Group by 61.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company’s stock valued at $62,000 after acquiring an additional 364 shares in the last quarter. Pacific Center for Financial Services acquired a new stake in shares of Alaska Air Group in the third quarter valued at $45,000. Finally, True Wealth Design LLC acquired a new stake in shares of Alaska Air Group in the third quarter valued at $52,000. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Alaska Air Group Stock Performance

NYSE ALK opened at $52.27 on Wednesday. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. Alaska Air Group, Inc. has a 52-week low of $32.62 and a 52-week high of $78.08. The business’s 50-day moving average price is $68.28 and its 200 day moving average price is $56.82. The firm has a market cap of $6.43 billion, a P/E ratio of 17.14, a P/E/G ratio of 0.43 and a beta of 1.50.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.52. Alaska Air Group had a return on equity of 14.66% and a net margin of 3.37%. On average, equities research analysts expect that Alaska Air Group, Inc. will post 6.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. UBS Group increased their price objective on Alaska Air Group from $81.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. increased their target price on Alaska Air Group from $85.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, March 3rd. Citigroup dropped their target price on Alaska Air Group from $83.00 to $81.00 and set a “buy” rating on the stock in a report on Tuesday. Susquehanna raised Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 target price on the stock in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group increased their target price on Alaska Air Group from $70.00 to $79.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $77.54.

Insider Buying and Selling

In related news, CFO Shane R. Tackett sold 22,893 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 31,873 shares in the company, valued at $2,414,061.02. This trade represents a 41.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrew R. Harrison sold 6,600 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were 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 of the company’s stock, valued at approximately $2,595,808.40. The trade was a 16.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 155,525 shares of company stock valued at $11,268,375 over the last quarter. 0.68% of the stock is currently owned by insiders.

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.