Alaska Air Group, Inc. (NYSE:ALK) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its stake in Alaska Air Group, Inc. (NYSE:ALK) by 19.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,779 shares of the transportation company’s stock after selling 1,850 shares during the period. Truist Financial Corp’s holdings in Alaska Air Group were worth $504,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ALK. Avior Wealth Management LLC increased its holdings in Alaska Air Group by 44.8% during the 4th quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock valued at $38,000 after acquiring an additional 182 shares in the last quarter. Pacific Center for Financial Services purchased a new position in Alaska Air Group during the 3rd quarter valued at about $45,000. Venturi Wealth Management LLC increased its holdings in Alaska Air Group by 86.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock valued at $46,000 after acquiring an additional 474 shares in the last quarter. True Wealth Design LLC purchased a new position in Alaska Air Group during the 3rd quarter valued at about $52,000. Finally, Quarry LP increased its holdings in Alaska Air Group by 259.3% during the 3rd quarter. Quarry LP now owns 1,175 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 848 shares in the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ALK. Bank of America raised their target price on shares of Alaska Air Group from $70.00 to $80.00 and gave the company a “buy” rating in a report on Friday, January 17th. Barclays raised their target price on shares of Alaska Air Group from $55.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. TD Cowen raised their target price on shares of Alaska Air Group from $85.00 to $110.00 and gave the company a “buy” rating in a report on Friday, January 24th. The Goldman Sachs Group raised their target price on shares of Alaska Air Group from $70.00 to $79.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Alaska Air Group from $85.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.00.

Alaska Air Group Price Performance

ALK opened at $69.81 on Tuesday. The company’s 50 day simple moving average is $70.09 and its 200 day simple moving average is $55.12. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.61. Alaska Air Group, Inc. has a 1 year low of $32.62 and a 1 year high of $78.08. The stock has a market capitalization of $8.59 billion, a PE ratio of 22.89, a P/E/G ratio of 0.43 and a beta of 1.55.

Alaska Air Group (NYSE:ALK) last released its earnings results on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.52. Alaska Air Group had a net margin of 3.37% and a return on equity of 14.66%. As a group, sell-side analysts expect that Alaska Air Group, Inc. will post 6.03 EPS for the current year.

Insider Buying and Selling

In related news, EVP Andrew R. Harrison sold 6,600 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $76.28, for a total value of $503,448.00. Following the sale, the executive vice president now directly owns 34,030 shares of the company’s stock, valued at approximately $2,595,808.40. This trade represents a 16.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Andrea L. Schneider sold 3,700 shares of Alaska Air Group stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $63.50, for a total transaction of $234,950.00. Following the transaction, the senior vice president now directly owns 21,086 shares in the company, valued at approximately $1,338,961. This trade represents a 14.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 189,198 shares of company stock valued at $13,415,604. Insiders own 0.68% of the company’s stock.

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.