KLP Kapitalforvaltning AS Takes $434,000 Position in Alaska Air Group, Inc. (NYSE:ALK)

KLP Kapitalforvaltning AS purchased a new position in Alaska Air Group, Inc. (NYSE:ALK) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 6,700 shares of the transportation company’s stock, valued at approximately $434,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ALK. Hennessy Advisors Inc. purchased a new position in shares of Alaska Air Group in the fourth quarter worth approximately $82,459,000. Wellington Management Group LLP acquired a new position in Alaska Air Group in the 3rd quarter worth approximately $26,390,000. Raymond James Financial Inc. purchased a new position in Alaska Air Group during the 4th quarter worth approximately $24,241,000. FMR LLC raised its stake in Alaska Air Group by 32.4% during the 3rd quarter. FMR LLC now owns 1,084,639 shares of the transportation company’s stock valued at $49,037,000 after purchasing an additional 265,343 shares during the period. Finally, Boston Partners lifted its holdings in shares of Alaska Air Group by 6.9% in the fourth quarter. Boston Partners now owns 3,460,959 shares of the transportation company’s stock valued at $224,121,000 after purchasing an additional 222,780 shares in the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.

Insider Buying and Selling at Alaska Air Group

In other news, SVP Andrea L. Schneider sold 1,830 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $73.32, for a total transaction of $134,175.60. Following the completion of the transaction, the senior vice president now directly owns 20,286 shares of the company’s stock, valued at approximately $1,487,369.52. This trade represents a 8.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph A. Sprague sold 9,500 shares of Alaska Air Group stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $68.90, for a total transaction of $654,550.00. Following the sale, the chief executive officer now owns 9,840 shares in the company, valued at approximately $677,976. This trade represents a 49.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 154,725 shares of company stock valued at $11,217,263 in the last 90 days. 0.92% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ALK shares. JPMorgan Chase & Co. lifted their price target on Alaska Air Group from $85.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, March 3rd. The Goldman Sachs Group lifted their target price on Alaska Air Group from $70.00 to $79.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. TD Cowen increased their price target on shares of Alaska Air Group from $85.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Morgan Stanley raised their price target 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. Finally, Susquehanna upgraded shares of Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 price objective on the stock in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $76.23.

Alaska Air Group Stock Down 3.4 %

Shares of ALK opened at $44.39 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.61. The company has a 50-day simple moving average of $64.04 and a 200-day simple moving average of $57.69. Alaska Air Group, Inc. has a 52 week low of $32.62 and a 52 week high of $78.08. The firm has a market capitalization of $5.45 billion, a P/E ratio of 14.55, a P/E/G ratio of 0.43 and a beta of 1.37.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.97 EPS for the quarter, topping 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, equities research analysts expect that Alaska Air Group, Inc. will post 6.03 earnings per share for the current 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.