Stock Traders Buy Large Volume of Put Options on Alaska Air Group (NYSE:ALK)

Alaska Air Group, Inc. (NYSE:ALKGet Free Report) was the target of some unusual options trading activity on Tuesday. Investors bought 7,695 put options on the company. This is an increase of 286% compared to the typical volume of 1,991 put options.

Institutional Trading of Alaska Air Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Boston Partners increased its stake in Alaska Air Group by 64.6% in the 4th quarter. Boston Partners now owns 3,811,191 shares of the transportation company’s stock valued at $148,861,000 after buying an additional 1,495,311 shares during the period. Capital Research Global Investors acquired a new position in Alaska Air Group in the 1st quarter valued at approximately $36,993,000. Dimensional Fund Advisors LP increased its stake in Alaska Air Group by 13.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,439,909 shares of the transportation company’s stock valued at $212,543,000 after buying an additional 660,455 shares during the period. Frontier Capital Management Co. LLC increased its stake in Alaska Air Group by 238.8% in the 4th quarter. Frontier Capital Management Co. LLC now owns 869,045 shares of the transportation company’s stock valued at $33,954,000 after buying an additional 612,575 shares during the period. Finally, Franklin Resources Inc. increased its stake in Alaska Air Group by 4,198.3% in the 4th quarter. Franklin Resources Inc. now owns 571,589 shares of the transportation company’s stock valued at $22,332,000 after buying an additional 558,291 shares during the period. 81.90% of the stock is owned by institutional investors and hedge funds.

Alaska Air Group Stock Performance

Shares of NYSE:ALK traded down $0.64 during trading on Tuesday, reaching $37.53. 992,914 shares of the company’s stock traded hands, compared to its average volume of 2,152,311. Alaska Air Group has a 12 month low of $30.75 and a 12 month high of $57.18. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.65 and a quick ratio of 0.63. The stock has a market capitalization of $4.76 billion, a P/E ratio of 20.43, a price-to-earnings-growth ratio of 0.51 and a beta of 1.60. The company has a 50 day moving average of $41.80 and a 200-day moving average of $39.94.

Alaska Air Group (NYSE:ALKGet Free Report) last issued its quarterly earnings results on Thursday, April 18th. The transportation company reported ($0.92) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.09) by $0.17. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.18 billion. Alaska Air Group had a net margin of 2.34% and a return on equity of 13.54%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.62) EPS. On average, equities analysts expect that Alaska Air Group will post 4.74 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ALK shares. Bank of America raised their price objective on shares of Alaska Air Group from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, April 19th. StockNews.com upgraded shares of Alaska Air Group from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Wolfe Research upgraded shares of Alaska Air Group from a “peer perform” rating to an “outperform” rating and set a $55.00 price objective for the company in a research report on Friday, May 17th. UBS Group initiated coverage on shares of Alaska Air Group in a research report on Wednesday, March 20th. They issued a “buy” rating and a $54.00 price objective for the company. Finally, TD Cowen lifted their price target on shares of Alaska Air Group from $49.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.60.

View Our Latest Stock Report on ALK

About Alaska Air Group

(Get Free Report)

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.

Further Reading

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