Short Interest in Alaska Air Group, Inc. (NYSE:ALK) Decreases By 7.7%

Alaska Air Group, Inc. (NYSE:ALK) was the recipient of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 5,970,000 shares, a decrease of 7.7% from the January 15th total of 6,470,000 shares. Based on an average daily volume of 2,720,000 shares, the short-interest ratio is presently 2.2 days.

Alaska Air Group Stock Down 0.5 %

Shares of ALK traded down $0.38 during trading on Tuesday, reaching $75.36. The company’s stock had a trading volume of 1,773,185 shares, compared to its average volume of 2,767,683. The company has a market cap of $9.57 billion, a price-to-earnings ratio of 24.71, a P/E/G ratio of 0.67 and a beta of 1.55. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. The company has a fifty day moving average of $68.62 and a two-hundred day moving average of $52.71. Alaska Air Group has a twelve month low of $32.62 and a twelve month high of $76.45.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results 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, sell-side analysts predict that Alaska Air Group will post 6.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ALK shares. TD Cowen increased their target price on shares of Alaska Air Group from $85.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Susquehanna raised shares of 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. Bank of America lifted their target price on shares of Alaska Air Group from $70.00 to $80.00 and gave the company a “buy” rating in a report on Friday, January 17th. JPMorgan Chase & Co. increased their price target on Alaska Air Group from $58.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Morgan Stanley boosted their price objective on Alaska Air Group from $70.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.86.

Insider Buying and Selling

In other news, EVP Andrew R. Harrison sold 13,880 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $64.01, for a total transaction of $888,458.80. Following the completion of the sale, the executive vice president now directly owns 20,638 shares of the company’s stock, valued at $1,321,038.38. The trade was a 40.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Muehlen Constance E. Von sold 4,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $63.09, for a total value of $252,360.00. Following the completion of the transaction, the chief operating officer now directly owns 12,162 shares in the company, valued at $767,300.58. This trade represents a 24.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 160,441 shares of company stock valued at $11,247,722. Insiders own 0.68% of the company’s stock.

Hedge Funds Weigh In On Alaska Air Group

Several large investors have recently modified their holdings of the stock. FMR LLC lifted its holdings in Alaska Air Group by 328.7% during the 4th quarter. FMR LLC now owns 4,649,388 shares of the transportation company’s stock worth $301,048,000 after buying an additional 3,564,749 shares during the last quarter. Hennessy Advisors Inc. bought a new position in Alaska Air Group during the fourth quarter worth $82,459,000. Point72 Asset Management L.P. boosted its holdings in Alaska Air Group by 134.0% in the fourth quarter. Point72 Asset Management L.P. now owns 2,134,221 shares of the transportation company’s stock worth $138,191,000 after purchasing an additional 1,222,277 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in Alaska Air Group by 4,615.3% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 943,064 shares of the transportation company’s stock valued at $61,063,000 after purchasing an additional 923,064 shares during the last quarter. Finally, Candlestick Capital Management LP acquired a new stake in shares of Alaska Air Group during the fourth quarter worth $51,306,000. Institutional investors own 81.90% 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.