Capital Research Global Investors Reduces Stock Position in Alaska Air Group, Inc. (NYSE:ALK)

Capital Research Global Investors decreased its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 21.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,075,000 shares of the transportation company’s stock after selling 581,052 shares during the quarter. Capital Research Global Investors’ holdings in Alaska Air Group were worth $134,356,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC increased its stake in Alaska Air Group by 328.7% in the 4th quarter. FMR LLC now owns 4,649,388 shares of the transportation company’s stock worth $301,048,000 after buying an additional 3,564,749 shares during the period. Hennessy Advisors Inc. bought a new position in Alaska Air Group in the 4th quarter worth about $82,459,000. Raymond James Financial Inc. purchased a new position in shares of Alaska Air Group during the fourth quarter worth approximately $24,241,000. Norges Bank bought a new stake in shares of Alaska Air Group during the fourth quarter valued at approximately $19,847,000. Finally, Boston Partners boosted 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 during the period. 81.90% of the stock is currently owned by institutional investors.

Alaska Air Group Price Performance

NYSE ALK opened at $45.08 on Monday. The firm’s fifty day simple moving average is $57.21 and its two-hundred day simple moving average is $58.02. The firm has a market capitalization of $5.53 billion, a P/E ratio of 14.78, a P/E/G ratio of 0.43 and a beta of 1.37. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04. Alaska Air Group, Inc. has a 12-month low of $32.62 and a 12-month high of $78.08.

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

Insider Transactions at Alaska Air Group

In related news, EVP Andrew R. Harrison sold 91,745 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $71.14, for a total value of $6,526,739.30. Following the completion of the transaction, the executive vice president now owns 20,638 shares in the company, valued at $1,468,187.32. This trade represents a 81.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Andrea L. Schneider sold 1,830 shares of Alaska Air Group stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $73.32, for a total value of $134,175.60. Following the sale, the senior vice president now directly owns 20,286 shares of the company’s stock, valued at approximately $1,487,369.52. This represents a 8.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 154,725 shares of company stock worth $11,217,263. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

ALK has been the topic of several research reports. Bank of America reduced their price objective on Alaska Air Group from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. Citigroup decreased their price objective on Alaska Air Group from $83.00 to $81.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. TD Cowen upped their price objective on shares of Alaska Air Group from $85.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. UBS Group downgraded shares of Alaska Air Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $75.00 to $54.00 in a research report on Monday, April 7th. Finally, Susquehanna lowered their price target on shares of Alaska Air Group from $95.00 to $55.00 and set a “positive” rating for the company in a research report on Monday, April 7th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Alaska Air Group has an average rating of “Moderate Buy” and an average price target of $70.15.

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.