Joseph A. Sprague Sells 9,500 Shares of Alaska Air Group, Inc. (NYSE:ALK) Stock

Alaska Air Group, Inc. (NYSE:ALK) CEO Joseph A. Sprague sold 9,500 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $68.90, for a total value of $654,550.00. Following the completion of the transaction, the chief executive officer now directly owns 9,840 shares in the company, valued at approximately $677,976. This trade represents a 49.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Alaska Air Group Stock Up 0.8 %

Shares of ALK traded up $0.57 during mid-day trading on Monday, hitting $70.52. 2,985,069 shares of the company traded hands, compared to its average volume of 2,974,473. The company has a market capitalization of $8.95 billion, a PE ratio of 23.12, a price-to-earnings-growth ratio of 0.59 and a beta of 1.54. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.93. The business has a 50 day moving average of $62.12 and a 200 day moving average of $48.66. Alaska Air Group, Inc. has a 1-year low of $32.62 and a 1-year high of $71.70.

Alaska Air Group (NYSE:ALK) last released its earnings results on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share for the quarter, topping 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 14.78%. Equities research analysts anticipate that Alaska Air Group, Inc. will post 6.03 EPS for the current year.

Hedge Funds Weigh In On Alaska Air Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Avior Wealth Management LLC grew its stake in Alaska Air Group by 44.8% during the 4th quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock valued at $38,000 after purchasing an additional 182 shares during the last quarter. Pacific Center for Financial Services purchased a new stake in Alaska Air Group in the third quarter valued at approximately $45,000. Venturi Wealth Management LLC boosted its position in Alaska Air Group by 86.0% in the third quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock valued at $46,000 after buying an additional 474 shares during the last quarter. Pacifica Partners Inc. increased its holdings in Alaska Air Group by 952.4% in the 3rd quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock worth $50,000 after buying an additional 1,000 shares during the period. Finally, True Wealth Design LLC purchased a new position in Alaska Air Group during the 3rd quarter worth approximately $52,000. Hedge funds and other institutional investors own 81.90% of the company’s stock.

Wall Street Analysts Forecast Growth

ALK has been the topic of several research reports. Susquehanna upgraded 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. Citigroup increased their target price on shares of Alaska Air Group from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, December 16th. UBS Group boosted their price target on shares of Alaska Air Group from $81.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Bank of America increased their price objective on shares of Alaska Air Group from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Finally, Morgan Stanley lifted their price objective on shares of Alaska Air Group from $70.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Alaska Air Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.86.

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.