NFJ Investment Group LLC Reduces Holdings in Alaska Air Group, Inc. (NYSE:ALK)

NFJ Investment Group LLC cut its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 6.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 249,472 shares of the transportation company’s stock after selling 16,990 shares during the period. NFJ Investment Group LLC owned 0.20% of Alaska Air Group worth $11,279,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ALK. Altshuler Shaham Ltd acquired a new position in shares of Alaska Air Group in the 2nd quarter valued at $28,000. Venturi Wealth Management LLC lifted its position in Alaska Air Group by 86.0% in the third quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock valued at $46,000 after buying an additional 474 shares during the last quarter. Pacifica Partners Inc. boosted its stake in Alaska Air Group by 952.4% during the third quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock worth $50,000 after buying an additional 1,000 shares during the period. True Wealth Design LLC acquired a new stake in shares of Alaska Air Group during the third quarter valued at about $52,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Alaska Air Group in the 3rd quarter valued at approximately $67,000. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

Alaska Air Group Stock Performance

Shares of ALK stock traded up $0.22 during mid-day trading on Tuesday, hitting $53.38. The stock had a trading volume of 206,323 shares, compared to its average volume of 2,229,048. The firm has a market cap of $6.78 billion, a PE ratio of 21.43, a PEG ratio of 1.19 and a beta of 1.60. The company’s 50-day simple moving average is $47.69 and its 200-day simple moving average is $41.99. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57. Alaska Air Group, Inc. has a fifty-two week low of $32.00 and a fifty-two week high of $54.14.

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

Wall Street Analyst Weigh In

ALK has been the subject of a number of research analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $70.00 price objective on shares of Alaska Air Group in a research report on Friday, November 15th. Citigroup dropped their price objective on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Bank of America raised their target price on 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 price target on the stock in a research note on Monday, October 28th. Finally, Barclays raised their price objective on shares of Alaska Air Group from $55.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $58.69.

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.