North Forty Two & Co. Takes Position in Alaska Air Group, Inc. (NYSE:ALK)

North Forty Two & Co. purchased a new stake in shares of Alaska Air Group, Inc. (NYSE:ALK) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 3,840 shares of the transportation company’s stock, valued at approximately $249,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Maryland State Retirement & Pension System lifted its position in shares of Alaska Air Group by 0.3% during the 4th quarter. Maryland State Retirement & Pension System now owns 49,905 shares of the transportation company’s stock valued at $3,231,000 after acquiring an additional 147 shares during the period. Xponance Inc. lifted its position in shares of Alaska Air Group by 24.8% during the 4th quarter. Xponance Inc. now owns 5,910 shares of the transportation company’s stock valued at $383,000 after acquiring an additional 1,174 shares during the period. Boston Partners lifted its position in shares of Alaska Air Group by 6.9% during the 4th quarter. Boston Partners now owns 3,460,959 shares of the transportation company’s stock valued at $224,121,000 after acquiring an additional 222,780 shares during the period. Retirement Planning Co of New England Inc. acquired a new stake in shares of Alaska Air Group during the 4th quarter valued at approximately $211,000. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of Alaska Air Group during the 4th quarter worth approximately $1,085,000. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Alaska Air Group Stock Down 5.2 %

Shares of NYSE ALK opened at $52.27 on Wednesday. Alaska Air Group, Inc. has a 52-week low of $32.62 and a 52-week high of $78.08. The firm has a fifty day moving average of $68.28 and a 200-day moving average of $56.82. The stock has a market capitalization of $6.43 billion, a PE ratio of 17.14, a P/E/G ratio of 0.43 and a beta of 1.50. 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 (NYSE:ALK) last announced its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.52. Alaska Air Group had a net margin of 3.37% and a return on equity of 14.66%. On average, analysts anticipate that Alaska Air Group, Inc. will post 6.03 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ALK. TD Cowen lifted their price objective on Alaska Air Group from $85.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. The Goldman Sachs Group lifted their price objective on Alaska Air Group from $70.00 to $79.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. lifted their price objective on Alaska Air Group from $85.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, March 3rd. Morgan Stanley lifted their price objective on Alaska Air Group from $70.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, Susquehanna upgraded Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 price objective for the company in a research report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.54.

Insider Activity

In related news, EVP Andrew R. Harrison sold 91,745 shares of Alaska Air Group stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $71.14, for a total transaction of $6,526,739.30. Following the transaction, the executive vice president now owns 20,638 shares in the company, valued at approximately $1,468,187.32. The trade was a 81.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Andrea L. Schneider sold 800 shares of Alaska Air Group stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $63.89, for a total transaction of $51,112.00. Following the transaction, the senior vice president now owns 20,286 shares in the company, valued at $1,296,072.54. The trade was a 3.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 155,525 shares of company stock valued at $11,268,375 in the last ninety days. Company insiders own 0.68% 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.