Appian Way Asset Management LP Boosts Stake in Alaska Air Group, Inc. (NYSE:ALK)

Appian Way Asset Management LP boosted its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 116.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,018 shares of the transportation company’s stock after acquiring an additional 71,600 shares during the period. Alaska Air Group accounts for approximately 1.4% of Appian Way Asset Management LP’s investment portfolio, making the stock its 17th biggest position. Appian Way Asset Management LP owned about 0.10% of Alaska Air Group worth $5,374,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ALK. CVA Family Office LLC boosted its position in shares of Alaska Air Group by 17.1% during the 1st quarter. CVA Family Office LLC now owns 2,230 shares of the transportation company’s stock valued at $96,000 after acquiring an additional 325 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Alaska Air Group by 28.4% in the 4th quarter. Parallel Advisors LLC now owns 1,688 shares of the transportation company’s stock valued at $66,000 after buying an additional 373 shares during the period. Gateway Investment Advisers LLC increased its holdings in shares of Alaska Air Group by 0.3% during the 1st quarter. Gateway Investment Advisers LLC now owns 153,403 shares of the transportation company’s stock worth $6,595,000 after buying an additional 391 shares during the last quarter. QRG Capital Management Inc. increased its holdings in shares of Alaska Air Group by 4.7% during the 2nd quarter. QRG Capital Management Inc. now owns 9,029 shares of the transportation company’s stock worth $365,000 after buying an additional 406 shares during the last quarter. Finally, William Blair Investment Management LLC raised its position in shares of Alaska Air Group by 4.0% during the 1st quarter. William Blair Investment Management LLC now owns 11,470 shares of the transportation company’s stock valued at $493,000 after buying an additional 436 shares during the period. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Alaska Air Group Stock Up 4.2 %

Alaska Air Group stock opened at $41.69 on Tuesday. The firm has a market capitalization of $5.29 billion, a P/E ratio of 22.29, a P/E/G ratio of 0.60 and a beta of 1.59. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55. Alaska Air Group, Inc. has a twelve month low of $30.75 and a twelve month high of $46.15. The stock’s fifty day simple moving average is $37.20 and its 200-day simple moving average is $39.95.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Thursday, July 18th. The transportation company reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.19. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.94 billion. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. Alaska Air Group’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.00 EPS. As a group, equities analysts expect that Alaska Air Group, Inc. will post 4.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on ALK. Susquehanna cut their target price on Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, July 16th. Citigroup cut their price objective on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. TD Cowen increased their target price on shares of Alaska Air Group from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Morgan Stanley dropped their price target on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Finally, Bank of America increased their price objective on shares of Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Alaska Air Group 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.