Cerity Partners LLC Purchases 38,874 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Cerity Partners LLC grew its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 360.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 49,672 shares of the transportation company’s stock after buying an additional 38,874 shares during the quarter. Cerity Partners LLC’s holdings in Alaska Air Group were worth $2,246,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ALK. Altshuler Shaham Ltd purchased a new stake in Alaska Air Group in the second quarter worth $28,000. Venturi Wealth Management LLC grew its holdings in shares of Alaska Air Group by 86.0% in the third 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 last quarter. Pacifica Partners Inc. increased its stake 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 buying an additional 1,000 shares during the period. Capital Performance Advisors LLP bought a new stake in Alaska Air Group during the 3rd quarter valued at about $67,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Alaska Air Group in the 2nd quarter valued at about $69,000. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

Alaska Air Group Stock Performance

Shares of ALK stock opened at $52.60 on Monday. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 0.93. The company has a market cap of $6.68 billion, a PE ratio of 21.21, a PEG ratio of 1.19 and a beta of 1.59. Alaska Air Group, Inc. has a 12-month low of $32.00 and a 12-month high of $54.14. The business’s fifty day simple moving average is $47.69 and its 200-day simple moving average is $42.00.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.03. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same period last year, the business posted $1.83 earnings per share. The firm’s revenue was up 8.2% compared to the same quarter last year. Analysts expect that Alaska Air Group, Inc. will post 4.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ALK has been the topic of a number of research reports. TD Cowen reduced their target price on shares of Alaska Air Group from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. UBS Group reaffirmed a “buy” rating and set a $72.00 target price on shares of Alaska Air Group in a research report on Tuesday, November 26th. The Goldman Sachs Group reiterated a “buy” rating and issued a $70.00 target price on shares of Alaska Air Group in a report on Friday, November 15th. Susquehanna raised their price target on Alaska Air Group from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Citigroup lowered their price objective on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Alaska Air Group has an average rating of “Moderate Buy” and a consensus target price of $58.69.

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.