Alaska Air Group, Inc. (NYSE:ALK) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA decreased its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 0.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,852,347 shares of the transportation company’s stock after selling 10,200 shares during the period. Primecap Management Co. CA owned approximately 3.05% of Alaska Air Group worth $174,165,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Capital Research Global Investors acquired a new stake in shares of Alaska Air Group during the 1st quarter worth approximately $36,993,000. Assenagon Asset Management S.A. increased its holdings in shares of Alaska Air Group by 2,087.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 762,889 shares of the transportation company’s stock worth $34,490,000 after buying an additional 728,019 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Alaska Air Group by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company’s stock worth $262,789,000 after buying an additional 357,907 shares during the last quarter. Mesirow Institutional Investment Management Inc. acquired a new stake in shares of Alaska Air Group during the 2nd quarter worth approximately $11,475,000. Finally, Point72 Asset Management L.P. increased its holdings in Alaska Air Group by 8.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,969,295 shares of the transportation company’s stock valued at $119,960,000 after purchasing an additional 220,030 shares during the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.

Alaska Air Group Price Performance

Alaska Air Group stock opened at $53.12 on Thursday. The stock has a market cap of $6.74 billion, a P/E ratio of 21.42, a price-to-earnings-growth ratio of 1.22 and a beta of 1.59. The company has a fifty day simple moving average of $45.97 and a 200-day simple moving average of $41.56. Alaska Air Group, Inc. has a 12-month low of $32.00 and a 12-month high of $54.01. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 0.93.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.03. The business had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3 billion. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.83 EPS. Equities analysts expect that Alaska Air Group, Inc. will post 4.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ALK has been the subject of several research reports. Barclays lifted 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. Bank of America lifted their target price on shares of Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, September 13th. Melius Research 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, October 28th. Evercore ISI dropped their target price 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. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $70.00 target price on shares of Alaska Air Group in a report on Friday, November 15th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.31.

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.