Alaska Air Group, Inc. (NYSE:ALK) Short Interest Up 15.5% in October

Alaska Air Group, Inc. (NYSE:ALK) was the recipient of a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 10,290,000 shares, a growth of 15.5% from the September 30th total of 8,910,000 shares. Based on an average trading volume of 2,400,000 shares, the days-to-cover ratio is presently 4.3 days.

Alaska Air Group Trading Up 0.7 %

Shares of Alaska Air Group stock opened at $47.27 on Thursday. Alaska Air Group has a 1-year low of $30.75 and a 1-year high of $47.46. The company’s fifty day simple moving average is $41.66 and its 200-day simple moving average is $40.75. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.66. The stock has a market capitalization of $6.00 billion, a PE ratio of 25.28, a P/E/G ratio of 0.66 and a beta of 1.60.

Analysts Set New Price Targets

ALK has been the topic of a number of research analyst reports. Susquehanna boosted their price target on Alaska Air Group from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Melius upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Monday. Barclays initiated coverage on shares of Alaska Air Group in a research note on Monday, October 21st. They issued an “overweight” rating and a $55.00 price target on the stock. Morgan Stanley decreased their price target on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Finally, Melius Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Monday. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.17.

Hedge Funds Weigh In On Alaska Air Group

Several institutional investors and hedge funds have recently bought and sold shares of ALK. Capital Research Global Investors purchased a new position in shares of Alaska Air Group during the 1st quarter valued at about $36,993,000. Assenagon Asset Management S.A. boosted its position in shares of Alaska Air Group by 2,087.8% in the third quarter. Assenagon Asset Management S.A. now owns 762,889 shares of the transportation company’s stock worth $34,490,000 after purchasing an additional 728,019 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Alaska Air Group by 5.8% in the second quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company’s stock worth $262,789,000 after purchasing an additional 357,907 shares in the last quarter. Mesirow Institutional Investment Management Inc. purchased a new stake in shares of Alaska Air Group in the second quarter worth $11,475,000. Finally, Russell Investments Group Ltd. raised its position in shares of Alaska Air Group by 35.0% during the 1st quarter. Russell Investments Group Ltd. now owns 862,376 shares of the transportation company’s stock valued at $37,074,000 after purchasing an additional 223,725 shares during the period. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

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.