Alaska Air Group, Inc. (NYSE:ALK) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 99.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,458 shares of the transportation company’s stock after selling 5,670,860 shares during the quarter. Victory Capital Management Inc.’s holdings in Alaska Air Group were worth $1,029,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. CVA Family Office LLC grew its stake in Alaska Air Group by 17.1% in the 1st quarter. CVA Family Office LLC now owns 2,230 shares of the transportation company’s stock valued at $96,000 after acquiring an additional 325 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Alaska Air Group by 28.4% in the fourth quarter. Parallel Advisors LLC now owns 1,688 shares of the transportation company’s stock valued at $66,000 after purchasing an additional 373 shares in the last quarter. Gateway Investment Advisers LLC grew its position in shares of Alaska Air Group by 0.3% in the first quarter. Gateway Investment Advisers LLC now owns 153,403 shares of the transportation company’s stock valued at $6,595,000 after purchasing an additional 391 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of Alaska Air Group by 6.8% during the 4th quarter. Private Advisor Group LLC now owns 6,209 shares of the transportation company’s stock worth $243,000 after purchasing an additional 397 shares in the last quarter. Finally, QRG Capital Management Inc. raised its position in shares of Alaska Air Group by 4.7% during the 2nd quarter. QRG Capital Management Inc. now owns 9,029 shares of the transportation company’s stock worth $365,000 after purchasing an additional 406 shares during the last quarter. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Susquehanna lowered their target price on Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. Bank of America increased their price objective on Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Morgan Stanley cut their target price on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Citigroup decreased their price target on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, TD Cowen boosted their price objective on shares of Alaska Air Group from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Alaska Air Group Price Performance

ALK stock opened at $40.02 on Friday. The stock has a 50-day simple moving average of $37.10 and a 200-day simple moving average of $39.86. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.66 and a current ratio of 0.68. The firm has a market cap of $5.08 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 0.60 and a beta of 1.59. Alaska Air Group, Inc. has a 1 year low of $30.75 and a 1 year high of $46.15.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, July 18th. The transportation company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.19. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period in the previous year, the company earned $3.00 earnings per share. Alaska Air Group’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities analysts predict that Alaska Air Group, Inc. will post 4.17 earnings per share 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.