Qsemble Capital Management LP Invests $1.83 Million in Alaska Air Group, Inc. (NYSE:ALK)

Qsemble Capital Management LP purchased a new stake in shares of Alaska Air Group, Inc. (NYSE:ALK) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 45,370 shares of the transportation company’s stock, valued at approximately $1,833,000.

A number of other institutional investors also recently bought and sold shares of ALK. CVA Family Office LLC lifted its holdings in shares of Alaska Air Group by 17.1% in the 1st quarter. CVA Family Office LLC now owns 2,230 shares of the transportation company’s stock worth $96,000 after acquiring an additional 325 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of Alaska Air Group by 28.4% during the fourth quarter. Parallel Advisors LLC now owns 1,688 shares of the transportation company’s stock valued at $66,000 after buying an additional 373 shares during the period. Gateway Investment Advisers LLC grew its stake in shares of Alaska Air Group by 0.3% during the first quarter. Gateway Investment Advisers LLC now owns 153,403 shares of the transportation company’s stock valued at $6,595,000 after buying an additional 391 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of Alaska Air Group by 6.8% in the fourth quarter. Private Advisor Group LLC now owns 6,209 shares of the transportation company’s stock worth $243,000 after buying an additional 397 shares during the period. Finally, QRG Capital Management Inc. lifted its stake in shares of Alaska Air Group by 4.7% during the 2nd quarter. QRG Capital Management Inc. now owns 9,029 shares of the transportation company’s stock worth $365,000 after acquiring an additional 406 shares during the last quarter. 81.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Morgan Stanley reduced their target price on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. TD Cowen reduced their price target on shares of Alaska Air Group from $58.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Citigroup lowered their price objective on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Wolfe Research raised shares of Alaska Air Group from a “peer perform” rating to an “outperform” rating and set a $55.00 target price on the stock in a research report on Friday, May 17th. Finally, Susquehanna lowered their price target on Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, July 16th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Alaska Air Group Stock Down 0.8 %

Shares of NYSE ALK opened at $39.50 on Thursday. Alaska Air Group, Inc. has a 12-month low of $30.75 and a 12-month high of $46.15. The stock’s fifty day simple moving average is $36.82 and its two-hundred day simple moving average is $39.76. The stock has a market capitalization of $5.01 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 0.70 and a beta of 1.59. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55.

Alaska Air Group (NYSE:ALK) last posted its earnings results on Thursday, July 18th. The transportation company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.19. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.94 billion. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.00 earnings per share. As a group, analysts expect that Alaska Air Group, Inc. will post 4.06 EPS for the current fiscal year.

About Alaska Air Group

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.