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

Alaska Air Group, Inc. (NYSE:ALK) was the target of a significant decline in short interest in January. As of January 31st, there was short interest totalling 5,970,000 shares, a decline 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 days-to-cover ratio is presently 2.2 days.

Alaska Air Group Stock Performance

NYSE ALK opened at $75.36 on Wednesday. The company has a market capitalization of $9.57 billion, a price-to-earnings ratio of 24.71, a PEG ratio of 0.67 and a beta of 1.55. Alaska Air Group has a twelve month low of $32.62 and a twelve month high of $76.45. The stock has a fifty day simple moving average of $68.62 and a 200 day simple moving average of $52.71. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.04.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.52. Alaska Air Group had a return on equity of 14.66% and a net margin of 3.37%. Sell-side analysts expect that Alaska Air Group will post 6.03 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ALK. TD Cowen upped their price objective on 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 upgraded shares of Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 target price on the stock in a research report on Tuesday, January 7th. Bank of America upped their price target on shares of Alaska Air Group from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, January 17th. UBS Group raised their price objective on Alaska Air Group from $81.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Finally, Melius raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Monday, October 28th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $74.86.

Insider Activity at Alaska Air Group

In related news, SVP Andrea L. Schneider sold 1,830 shares of Alaska Air Group stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $73.32, for a total value of $134,175.60. Following the transaction, the senior vice president now directly owns 20,286 shares of the company’s stock, valued at $1,487,369.52. This trade represents a 8.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Shane R. Tackett sold 22,893 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $75.74, for a total transaction of $1,733,915.82. Following the transaction, the chief financial officer now owns 31,873 shares of the company’s stock, valued at approximately $2,414,061.02. This represents a 41.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 160,441 shares of company stock valued at $11,247,722 over the last quarter. 0.68% of the stock is owned by corporate insiders.

Institutional Trading of Alaska Air Group

Large investors have recently bought and sold shares of the business. Avior Wealth Management LLC grew its holdings 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 worth $38,000 after acquiring an additional 182 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Alaska Air Group during the 4th quarter worth about $52,000. EverSource Wealth Advisors LLC grew its holdings in Alaska Air Group by 61.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company’s stock worth $62,000 after acquiring an additional 364 shares during the period. Pacific Center for Financial Services acquired a new stake in Alaska Air Group during the 3rd quarter worth about $45,000. Finally, Venturi Wealth Management LLC grew its holdings in Alaska Air Group by 86.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock worth $46,000 after acquiring an additional 474 shares during the period. 81.90% of the stock is currently owned by institutional investors and hedge funds.

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.