Hennessy Advisors Inc. bought a new stake in Alaska Air Group, Inc. (NYSE:ALK – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,273,500 shares of the transportation company’s stock, valued at approximately $82,459,000. Alaska Air Group makes up about 2.5% of Hennessy Advisors Inc.’s investment portfolio, making the stock its 2nd biggest position.
Several other hedge funds have also bought and sold shares of the stock. Point72 Asset Management L.P. raised its holdings in shares of Alaska Air Group by 8.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,969,295 shares of the transportation company’s stock valued at $119,960,000 after buying an additional 220,030 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Alaska Air Group by 3.9% during the third quarter. Geode Capital Management LLC now owns 2,061,596 shares of the transportation company’s stock worth $93,229,000 after acquiring an additional 78,186 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Alaska Air Group by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,593,756 shares of the transportation company’s stock worth $72,054,000 after acquiring an additional 6,977 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Alaska Air Group by 45.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,422,247 shares of the transportation company’s stock valued at $64,300,000 after purchasing an additional 442,331 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Alaska Air Group by 32.4% during the 3rd quarter. FMR LLC now owns 1,084,639 shares of the transportation company’s stock valued at $49,037,000 after purchasing an additional 265,343 shares during the last quarter. 81.90% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on ALK shares. Bank of America upped their price target on shares of Alaska Air Group from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Friday. UBS Group increased their target price on Alaska Air Group from $81.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Susquehanna raised Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 price target on the stock in a research note on Tuesday, January 7th. Barclays increased their price objective on Alaska Air Group from $55.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Finally, Evercore ISI cut their target price on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, October 3rd. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $72.57.
Insider Activity at Alaska Air Group
In related news, VP Emily Halverson sold 1,329 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $64.41, for a total transaction of $85,600.89. Following the completion of the sale, the vice president now directly owns 7,150 shares in the company, valued at approximately $460,531.50. The trade was a 15.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Andrea L. Schneider sold 3,700 shares of Alaska Air Group stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $63.50, for a total value of $234,950.00. Following the transaction, the senior vice president now owns 21,086 shares in the company, valued at $1,338,961. This trade represents a 14.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,473 shares of company stock valued at $2,198,342 over the last 90 days. Corporate insiders own 0.92% of the company’s stock.
Alaska Air Group Stock Performance
Shares of ALK stock opened at $67.46 on Friday. The company’s fifty day moving average price is $59.87 and its 200-day moving average price is $47.09. The stock has a market cap of $8.56 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 0.67 and a beta of 1.54. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 0.93. Alaska Air Group, Inc. has a 12 month low of $32.62 and a 12 month high of $69.10.
Alaska Air Group (NYSE:ALK – Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $3 billion. During the same period in the previous year, the firm posted $1.83 EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities analysts expect that Alaska Air Group, Inc. will post 4.37 EPS for the current fiscal year.
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.
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