Raymond James & Associates Lowers Stake in Alaska Air Group, Inc. (NYSE:ALK)

Raymond James & Associates lowered its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 32.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 192,407 shares of the transportation company’s stock after selling 91,174 shares during the period. Raymond James & Associates owned 0.15% of Alaska Air Group worth $8,699,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Blue Trust Inc. lifted its holdings in Alaska Air Group by 22.6% during the third quarter. Blue Trust Inc. now owns 3,144 shares of the transportation company’s stock worth $142,000 after buying an additional 579 shares during the period. Clarius Group LLC lifted its holdings in shares of Alaska Air Group by 54.0% during the 3rd quarter. Clarius Group LLC now owns 31,304 shares of the transportation company’s stock valued at $1,415,000 after purchasing an additional 10,982 shares during the last quarter. CWM LLC lifted its holdings in shares of Alaska Air Group by 224.4% during the 3rd quarter. CWM LLC now owns 14,285 shares of the transportation company’s stock valued at $646,000 after purchasing an additional 9,882 shares during the last quarter. Pacifica Partners Inc. lifted its holdings in shares of Alaska Air Group by 952.4% during the 3rd quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock valued at $50,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Alaska Air Group during the 2nd quarter valued at $189,000. Hedge funds and other institutional investors own 81.90% of the company’s stock.

Alaska Air Group Price Performance

Shares of ALK opened at $46.92 on Wednesday. The business’s 50-day moving average is $41.41 and its two-hundred day moving average is $40.70. The company has a market capitalization of $5.95 billion, a P/E ratio of 25.09, a P/E/G ratio of 0.66 and a beta of 1.60. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.66 and a current ratio of 0.68. Alaska Air Group, Inc. has a fifty-two week low of $30.75 and a fifty-two week high of $47.45.

Analyst Ratings Changes

Several analysts have recently commented on ALK shares. Citigroup decreased their price objective on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Bank of America upped their target price on Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Morgan Stanley cut their target price on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Evercore ISI cut their target price on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, October 3rd. Finally, Melius Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Monday. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $54.17.

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.