Sequoia Financial Advisors LLC Grows Stock Holdings in Alaska Air Group, Inc. (NYSE:ALK)

Sequoia Financial Advisors LLC raised its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 6.6% during the fourth quarter, HoldingsChannel reports. The fund owned 5,381 shares of the transportation company’s stock after purchasing an additional 332 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Alaska Air Group were worth $348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ALK. HighTower Advisors LLC lifted its holdings in Alaska Air Group by 20.6% during the 4th quarter. HighTower Advisors LLC now owns 12,773 shares of the transportation company’s stock worth $827,000 after purchasing an additional 2,186 shares in the last quarter. AGF Management Ltd. bought a new stake in shares of Alaska Air Group during the fourth quarter valued at about $3,159,000. Wealthfront Advisers LLC purchased a new stake in shares of Alaska Air Group in the fourth quarter worth about $5,944,000. Amundi boosted its position in shares of Alaska Air Group by 188.3% in the fourth quarter. Amundi now owns 65,070 shares of the transportation company’s stock valued at $4,313,000 after acquiring an additional 42,501 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in Alaska Air Group by 9.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 12,850 shares of the transportation company’s stock valued at $832,000 after acquiring an additional 1,098 shares in the last quarter. Hedge funds and other institutional investors own 81.90% of the company’s stock.

Insider Activity at Alaska Air Group

In related news, CEO Joseph A. Sprague sold 9,500 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $68.90, for a total value of $654,550.00. Following the completion of the sale, the chief executive officer now owns 9,840 shares of the company’s stock, valued at $677,976. This trade represents a 49.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Andrea L. Schneider sold 800 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $63.89, for a total transaction of $51,112.00. Following the transaction, the senior vice president now directly owns 20,286 shares in the company, valued at approximately $1,296,072.54. The trade was a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 155,525 shares of company stock worth $11,268,375 in the last ninety days. 0.68% of the stock is owned by company insiders.

Alaska Air Group Trading Down 5.2 %

Shares of ALK opened at $52.27 on Wednesday. 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 fifty-two week low of $32.62 and a fifty-two week high of $78.08. The firm has a 50 day moving average price of $68.28 and a 200-day moving average price of $56.82. The firm has a market cap of $6.43 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 0.43 and a beta of 1.50.

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

Wall Street Analyst Weigh In

ALK has been the subject of several analyst reports. TD Cowen raised their price target 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 boosted their target price on 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 raised their price target on Alaska Air Group from $70.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. boosted their price objective on Alaska Air Group from $85.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, March 3rd. Finally, Susquehanna raised shares of Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 target price on the stock in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $77.54.

Alaska Air Group Company 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.