Cadence Bank Lowers Holdings in Alaska Air Group, Inc. (NYSE:ALK)

Cadence Bank reduced its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,129 shares of the transportation company’s stock after selling 252 shares during the period. Cadence Bank’s holdings in Alaska Air Group were worth $458,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ALK. O Shaughnessy Asset Management LLC purchased a new position in Alaska Air Group during the first quarter worth approximately $280,000. Price T Rowe Associates Inc. MD boosted its holdings in Alaska Air Group by 5.6% in the first 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 during the last quarter. Comerica Bank grew its position in Alaska Air Group by 88.0% during the first quarter. Comerica Bank now owns 174,178 shares of the transportation company’s stock valued at $7,488,000 after acquiring an additional 81,533 shares during the period. Cetera Investment Advisers increased its stake in Alaska Air Group by 211.7% during the first quarter. Cetera Investment Advisers now owns 47,770 shares of the transportation company’s stock worth $2,054,000 after acquiring an additional 32,442 shares during the last quarter. Finally, Cetera Advisors LLC purchased a new position in shares of Alaska Air Group in the 1st quarter worth about $227,000. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ALK has been the subject of a number of research reports. TD Cowen decreased their target price on Alaska Air Group from $52.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. UBS Group reaffirmed a “buy” rating and set a $72.00 price target on shares of Alaska Air Group in a research report on Tuesday. Evercore ISI dropped their price objective on shares of 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. Melius Research raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research note on Monday, October 28th. Finally, Barclays upped their price target on shares of Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $58.69.

Alaska Air Group Stock Down 0.5 %

Shares of Alaska Air Group stock opened at $52.65 on Thursday. Alaska Air Group, Inc. has a 1-year low of $32.00 and a 1-year high of $54.14. The company has a market capitalization of $6.68 billion, a PE ratio of 21.23, a P/E/G ratio of 1.21 and a beta of 1.59. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57. The business has a 50-day moving average of $46.92 and a 200-day moving average of $41.80.

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