Merit Financial Group LLC Acquires 906 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Merit Financial Group LLC raised its stake in Alaska Air Group, Inc. (NYSE:ALK) by 14.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,385 shares of the transportation company’s stock after buying an additional 906 shares during the period. Merit Financial Group LLC’s holdings in Alaska Air Group were worth $478,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Hennessy Advisors Inc. bought a new position in Alaska Air Group during the 4th quarter worth approximately $82,459,000. Capital Advisors Wealth Management LLC bought a new position in shares of Alaska Air Group in the fourth quarter valued at approximately $241,000. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Alaska Air Group in the fourth quarter valued at about $251,000. Friedenthal Financial purchased a new position in shares of Alaska Air Group in the 4th quarter worth approximately $772,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Alaska Air Group by 1.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,753 shares of the transportation company’s stock valued at $1,279,000 after purchasing an additional 309 shares during the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ALK shares. Melius Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Monday, October 28th. TD Cowen boosted their price objective on Alaska Air Group from $68.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Susquehanna upgraded Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 price objective for the company in a report on Tuesday, January 7th. UBS Group boosted their price target on shares of Alaska Air Group from $81.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Finally, Evercore ISI dropped their price objective on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. 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.com, Alaska Air Group presently has an average rating of “Moderate Buy” and an average target price of $72.57.

Insider Activity at Alaska Air Group

In related news, EVP Andrew R. Harrison sold 13,880 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $64.01, for a total value of $888,458.80. Following the transaction, the executive vice president now owns 20,638 shares of the company’s stock, valued at approximately $1,321,038.38. This trade represents a 40.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Emily Halverson sold 1,329 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $64.41, for a total value of $85,600.89. Following the completion of the sale, the vice president now owns 7,150 shares of the company’s stock, valued at $460,531.50. This trade represents a 15.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,473 shares of company stock valued at $2,198,342. 0.68% of the stock is owned by corporate insiders.

Alaska Air Group Trading Up 2.0 %

NYSE ALK opened at $68.72 on Friday. The stock’s 50 day moving average is $61.44 and its 200 day moving average is $48.06. 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 firm has a market capitalization of $8.72 billion, a PE ratio of 27.71, a P/E/G ratio of 0.61 and a beta of 1.54. Alaska Air Group, Inc. has a twelve month low of $32.62 and a twelve month high of $71.70.

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 12.81% and a net margin of 2.99%. Research analysts forecast that Alaska Air Group, Inc. will post 4.37 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.