Proficio Capital Partners LLC Invests $4.68 Million in Alaska Air Group, Inc. (NYSE:ALK)

Proficio Capital Partners LLC bought a new stake in Alaska Air Group, Inc. (NYSE:ALK) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 72,196 shares of the transportation company’s stock, valued at approximately $4,675,000. Proficio Capital Partners LLC owned about 0.06% of Alaska Air Group at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. M&T Bank Corp grew its position in shares of Alaska Air Group by 23.1% in the fourth quarter. M&T Bank Corp now owns 12,635 shares of the transportation company’s stock valued at $819,000 after purchasing an additional 2,367 shares during the last quarter. Atria Investments Inc bought a new stake in Alaska Air Group during the 4th quarter valued at approximately $225,000. Victory Capital Management Inc. grew its holdings in Alaska Air Group by 313.4% in the 4th quarter. Victory Capital Management Inc. now owns 117,050 shares of the transportation company’s stock valued at $7,579,000 after buying an additional 88,734 shares during the last quarter. Jag Capital Management LLC increased its position in Alaska Air Group by 1.5% in the 4th quarter. Jag Capital Management LLC now owns 74,398 shares of the transportation company’s stock worth $4,817,000 after buying an additional 1,128 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Alaska Air Group by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,432,052 shares of the transportation company’s stock worth $92,725,000 after buying an additional 9,805 shares during the last quarter. Institutional investors own 81.90% of the company’s stock.

Insider Activity at Alaska Air Group

In other Alaska Air Group news, CEO Joseph A. Sprague sold 2,325 shares of Alaska Air Group stock in a transaction 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 owns 19,340 shares in the company, valued at approximately $1,245,109.20. The trade was a 10.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Emily Halverson sold 1,329 shares of the 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 sale, the vice president now owns 7,150 shares in the company, valued at $460,531.50. The trade was a 15.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 159,179 shares of company stock valued at $11,503,659 in the last ninety days. Insiders own 0.68% of the company’s stock.

Alaska Air Group Trading Up 2.2 %

Shares of ALK opened at $55.12 on Tuesday. The stock has a 50 day simple moving average of $68.54 and a 200-day simple moving average of $56.71. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04. The stock has a market cap of $6.78 billion, a PE ratio of 18.07, a PEG ratio of 0.43 and a beta of 1.50. Alaska Air Group, Inc. has a 1 year low of $32.62 and a 1 year high of $78.08.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.52. Alaska Air Group had a return on equity of 14.66% and a net margin of 3.37%. On average, sell-side analysts predict that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ALK. Bank of America raised their price objective on shares of Alaska Air Group from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. The Goldman Sachs Group raised their price target on shares of Alaska Air Group from $70.00 to $79.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Morgan Stanley boosted their price objective on shares of Alaska Air Group from $70.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. UBS Group increased their target price on shares of Alaska Air Group from $81.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. boosted their price target on Alaska Air Group from $85.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $77.00.

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.