Everence Capital Management Inc. Reduces Holdings in Alaska Air Group, Inc. (NYSE:ALK)

Everence Capital Management Inc. reduced its stake in Alaska Air Group, Inc. (NYSE:ALK) by 56.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,210 shares of the transportation company’s stock after selling 9,400 shares during the period. Everence Capital Management Inc.’s holdings in Alaska Air Group were worth $467,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Verdence Capital Advisors LLC increased its stake in shares of Alaska Air Group by 2.2% in the third quarter. Verdence Capital Advisors LLC now owns 10,180 shares of the transportation company’s stock worth $460,000 after buying an additional 215 shares during the period. QRG Capital Management Inc. grew its holdings in Alaska Air Group by 2.7% in the 3rd quarter. QRG Capital Management Inc. now owns 9,271 shares of the transportation company’s stock worth $419,000 after acquiring an additional 242 shares during the last quarter. First Trust Direct Indexing L.P. increased its position in shares of Alaska Air Group by 4.7% in the third quarter. First Trust Direct Indexing L.P. now owns 5,938 shares of the transportation company’s stock valued at $268,000 after acquiring an additional 267 shares during the period. Coastwise Capital Group LLC raised its stake in shares of Alaska Air Group by 6.0% during the third quarter. Coastwise Capital Group LLC now owns 5,354 shares of the transportation company’s stock valued at $242,000 after acquiring an additional 304 shares during the last quarter. Finally, Concurrent Investment Advisors LLC boosted its holdings in shares of Alaska Air Group by 3.7% during the third quarter. Concurrent Investment Advisors LLC now owns 8,770 shares of the transportation company’s stock worth $397,000 after purchasing an additional 309 shares during the period. Institutional investors own 81.90% of the company’s stock.

Insider Activity at Alaska Air Group

In related news, COO Muehlen Constance E. Von sold 4,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $63.09, for a total transaction of $252,360.00. Following the sale, the chief operating officer now directly owns 12,162 shares of the company’s stock, valued at $767,300.58. This trade represents a 24.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Andrea L. Schneider sold 800 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $63.89, for a total value of $51,112.00. Following the completion of the transaction, the senior vice president now directly owns 20,286 shares of the company’s stock, valued at approximately $1,296,072.54. This trade represents a 3.79 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,473 shares of company stock valued at $2,198,342. 0.68% of the stock is owned by insiders.

Analyst Ratings Changes

ALK has been the topic of a number of research analyst reports. UBS Group restated a “buy” rating and set a $72.00 price target on shares of Alaska Air Group in a report on Tuesday, November 26th. Morgan Stanley boosted their target price on Alaska Air Group from $70.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Melius raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Monday, October 28th. JPMorgan Chase & Co. upped their price objective on shares of Alaska Air Group from $58.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Barclays lifted their target price on shares of Alaska Air Group from $55.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Alaska Air Group has a consensus rating of “Moderate Buy” and a consensus price target of $65.86.

Alaska Air Group Stock Performance

Shares of ALK opened at $63.98 on Monday. 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 stock has a market cap of $8.12 billion, a P/E ratio of 25.80, a P/E/G ratio of 1.24 and a beta of 1.54. The business’s 50 day moving average price is $56.64 and its 200-day moving average price is $45.56. Alaska Air Group, Inc. has a 52 week low of $32.62 and a 52 week high of $67.73.

Alaska Air Group (NYSE:ALK) last released its earnings results on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, topping the consensus estimate 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 business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period in the previous year, the company posted $1.83 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. Equities research analysts anticipate that Alaska Air Group, Inc. will post 4.3 earnings per share 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.