Ellis Investment Partners LLC Has $2.03 Million Stock Position in Alaska Air Group, Inc. (NYSE:ALK)

Ellis Investment Partners LLC increased its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,928 shares of the transportation company’s stock after buying an additional 620 shares during the period. Ellis Investment Partners LLC’s holdings in Alaska Air Group were worth $2,031,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ALK. Sequoia Financial Advisors LLC bought a new stake in shares of Alaska Air Group during the 1st quarter worth $217,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Alaska Air Group during the 1st quarter worth $499,000. Janney Montgomery Scott LLC boosted its holdings in shares of Alaska Air Group by 3.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,780 shares of the transportation company’s stock worth $764,000 after buying an additional 559 shares during the period. swisspartners Advisors Ltd boosted its holdings in shares of Alaska Air Group by 3.4% during the 1st quarter. swisspartners Advisors Ltd now owns 130,209 shares of the transportation company’s stock worth $5,598,000 after buying an additional 4,270 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Alaska Air Group by 31.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 42,133 shares of the transportation company’s stock worth $1,811,000 after buying an additional 10,137 shares during the period. 81.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ALK shares. Citigroup decreased 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 report on Thursday, August 29th. TD Cowen reduced their price target on shares of Alaska Air Group from $52.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Evercore ISI reduced their price target on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, October 3rd. Susquehanna increased their price target on shares of Alaska Air Group from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley reduced 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 report on Monday, July 22nd. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $53.80.

Alaska Air Group Price Performance

Shares of NYSE:ALK traded down $0.07 during midday trading on Friday, reaching $45.54. 1,356,980 shares of the company’s stock were exchanged, compared to its average volume of 2,268,947. The company’s 50 day simple moving average is $40.93 and its two-hundred day simple moving average is $40.64. The firm has a market capitalization of $5.78 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 0.66 and a beta of 1.60. Alaska Air Group, Inc. has a 12 month low of $30.75 and a 12 month high of $46.87. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.66 and a current ratio of 0.68.

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.