Wedge Capital Management L L P NC Sells 24,657 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Wedge Capital Management L L P NC reduced its stake in Alaska Air Group, Inc. (NYSE:ALK) by 32.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,932 shares of the transportation company’s stock after selling 24,657 shares during the period. Wedge Capital Management L L P NC’s holdings in Alaska Air Group were worth $2,029,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV boosted its holdings in Alaska Air Group by 215.8% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 761 shares of the transportation company’s stock worth $30,000 after acquiring an additional 520 shares in the last quarter. Creative Financial Designs Inc. ADV grew its position in Alaska Air Group by 255.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 775 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 557 shares during the period. Itau Unibanco Holding S.A. grew its position in Alaska Air Group by 456.1% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 912 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 748 shares during the period. Allworth Financial LP increased its stake in Alaska Air Group by 63.4% during the 3rd quarter. Allworth Financial LP now owns 1,297 shares of the transportation company’s stock valued at $48,000 after purchasing an additional 503 shares in the last quarter. Finally, NBC Securities Inc. acquired a new position in Alaska Air Group during the third quarter worth $69,000. Institutional investors and hedge funds own 81.90% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Andrew R. Harrison sold 6,500 shares of Alaska Air Group stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total transaction of $249,340.00. Following the completion of the sale, the executive vice president now owns 26,048 shares in the company, valued at approximately $999,201.28. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.92% of the company’s stock.

Alaska Air Group Trading Down 1.9 %

Shares of ALK opened at $44.23 on Thursday. Alaska Air Group, Inc. has a twelve month low of $30.75 and a twelve month high of $57.18. The stock has a market cap of $5.56 billion, a PE ratio of 23.65, a P/E/G ratio of 0.63 and a beta of 1.63. The company has a quick ratio of 0.63, a current ratio of 0.65 and a debt-to-equity ratio of 0.85. The business’s 50-day moving average price is $40.15 and its 200-day moving average price is $37.43.

Alaska Air Group (NYSE:ALK) last posted its earnings results on Thursday, April 18th. The transportation company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.09) by $0.17. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Alaska Air Group had a net margin of 2.34% and a return on equity of 13.54%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.62) EPS. On average, equities analysts forecast that Alaska Air Group, Inc. will post 4.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Evercore ISI increased their price objective on Alaska Air Group from $55.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Deutsche Bank Aktiengesellschaft raised Alaska Air Group from a “hold” rating to a “buy” rating and increased their price target for the company from $44.00 to $51.00 in a research report on Tuesday, February 20th. TD Cowen upped their price objective on Alaska Air Group from $49.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, April 19th. UBS Group started coverage on Alaska Air Group in a research note on Wednesday, March 20th. They set a “buy” rating and a $54.00 target price on the stock. Finally, Melius lowered shares of Alaska Air Group from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Alaska Air Group currently has an average rating of “Moderate Buy” and a consensus price target of $57.85.

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.