Alaska Air Group, Inc. (NYSE:ALK) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its stake in Alaska Air Group, Inc. (NYSE:ALK) by 88.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 87,424 shares of the transportation company’s stock after selling 675,465 shares during the quarter. Assenagon Asset Management S.A. owned 0.07% of Alaska Air Group worth $5,661,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Altshuler Shaham Ltd acquired a new position in shares of Alaska Air Group in the 2nd quarter valued at about $28,000. Pacific Center for Financial Services acquired a new position in Alaska Air Group in the 3rd quarter worth about $45,000. Venturi Wealth Management LLC raised its holdings in Alaska Air Group by 86.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock worth $46,000 after purchasing an additional 474 shares during the period. Pacifica Partners Inc. raised 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 purchasing an additional 1,000 shares during the period. Finally, True Wealth Design LLC acquired a new position in Alaska Air Group in the 3rd quarter worth about $52,000. Institutional investors and hedge funds own 81.90% of the company’s stock.

Alaska Air Group Price Performance

ALK stock opened at $66.35 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57. The business has a 50 day simple moving average of $60.47 and a 200-day simple moving average of $47.56. The firm has a market capitalization of $8.42 billion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 0.67 and a beta of 1.54. Alaska Air Group, Inc. has a 1 year low of $32.62 and a 1 year high of $69.10.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.03. The company had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.83 earnings per share. Equities research analysts anticipate that Alaska Air Group, Inc. will post 4.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Joseph A. Sprague sold 2,325 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $64.38, for a total value of $149,683.50. Following the completion of the transaction, the chief executive officer now directly owns 19,340 shares in the company, valued at approximately $1,245,109.20. This represents a 10.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Shane R. Tackett sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $63.56, for a total value of $317,800.00. Following the transaction, the chief financial officer now owns 27,362 shares in the company, valued at $1,739,128.72. This trade represents a 15.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,473 shares of company stock worth $2,198,342. Company insiders own 0.68% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ALK. Melius Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a report on Monday, October 28th. TD Cowen upped their price target on Alaska Air Group from $68.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Barclays upped their price target on Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. increased their target price on Alaska Air Group from $58.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Citigroup increased their target price on Alaska Air Group from $63.00 to $74.00 and gave the company a “buy” rating in a report on Monday, December 16th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.57.

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.