Holocene Advisors LP Sells 466,960 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Holocene Advisors LP cut its stake in Alaska Air Group, Inc. (NYSE:ALK) by 71.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 189,835 shares of the transportation company’s stock after selling 466,960 shares during the quarter. Holocene Advisors LP’s holdings in Alaska Air Group were worth $8,582,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in Alaska Air Group by 5.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 69,382 shares of the transportation company’s stock valued at $2,983,000 after acquiring an additional 3,652 shares in the last quarter. Cetera Investment Advisers raised its stake in Alaska Air Group by 211.7% in the 1st quarter. Cetera Investment Advisers now owns 47,770 shares of the transportation company’s stock valued at $2,054,000 after acquiring an additional 32,442 shares during the period. Cetera Advisors LLC bought a new position in Alaska Air Group during the first quarter worth about $227,000. GAMMA Investing LLC increased its stake in shares of Alaska Air Group by 31.7% in the second quarter. GAMMA Investing LLC now owns 2,602 shares of the transportation company’s stock worth $105,000 after purchasing an additional 626 shares in the last quarter. Finally, CWM LLC raised its position in shares of Alaska Air Group by 13.0% in the second quarter. CWM LLC now owns 4,403 shares of the transportation company’s stock valued at $178,000 after purchasing an additional 507 shares during the period. Institutional investors own 81.90% of the company’s stock.

Alaska Air Group Trading Down 1.2 %

Shares of ALK stock opened at $52.54 on Wednesday. The business has a 50-day moving average of $47.92 and a 200 day moving average of $42.06. Alaska Air Group, Inc. has a 1-year low of $32.00 and a 1-year high of $54.14. The stock has a market capitalization of $6.67 billion, a PE ratio of 21.19, a P/E/G ratio of 1.21 and a beta of 1.60. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.03. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.83 EPS. As a group, sell-side analysts anticipate that Alaska Air Group, Inc. will post 4.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. UBS Group reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Alaska Air Group in a report on Tuesday, November 26th. Evercore ISI reduced their price target on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, October 3rd. Citigroup dropped their price objective on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Melius Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Monday, October 28th. Finally, Bank of America increased their price target on shares of Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Alaska Air Group has an average rating of “Moderate Buy” and an average target price of $58.69.

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.