Alaska Air Group, Inc. (NYSE:ALK) Shares Sold by Cadence Bank

Cadence Bank reduced its position in Alaska Air Group, Inc. (NYSE:ALK) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,129 shares of the transportation company’s stock after selling 252 shares during the quarter. Cadence Bank’s holdings in Alaska Air Group were worth $458,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC acquired a new position in shares of Alaska Air Group in the 1st quarter worth approximately $280,000. Price T Rowe Associates Inc. MD lifted its stake in Alaska Air Group by 5.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 69,382 shares of the transportation company’s stock worth $2,983,000 after purchasing an additional 3,652 shares during the last quarter. Comerica Bank boosted its holdings in Alaska Air Group by 88.0% in the first quarter. Comerica Bank now owns 174,178 shares of the transportation company’s stock worth $7,488,000 after purchasing an additional 81,533 shares during the period. Cetera Investment Advisers raised its holdings in shares of Alaska Air Group by 211.7% during the first quarter. Cetera Investment Advisers now owns 47,770 shares of the transportation company’s stock worth $2,054,000 after purchasing an additional 32,442 shares during the period. Finally, Cetera Advisors LLC bought a new position in shares of Alaska Air Group in the 1st quarter worth about $227,000. Institutional investors and hedge funds own 81.90% of the company’s stock.

Alaska Air Group Stock Down 0.5 %

Alaska Air Group stock opened at $52.65 on Thursday. The company’s 50-day moving average price is $46.92 and its two-hundred day moving average price is $41.80. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 1.21 and a beta of 1.59. Alaska Air Group, Inc. has a 52 week low of $32.00 and a 52 week high of $54.14. 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 posted its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.03. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The business had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3 billion. During the same quarter last year, the business earned $1.83 earnings per share. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, analysts expect that Alaska Air Group, Inc. will post 4.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ALK. Melius raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Monday, October 28th. Citigroup dropped their price target on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. UBS Group restated a “buy” rating and set a $72.00 price objective on shares of Alaska Air Group in a research report on Tuesday. Barclays increased their target price on Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Finally, 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. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently 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.