Montecito Bank & Trust increased its position in Alaska Air Group, Inc. (NYSE:ALK) by 29.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,198 shares of the transportation company’s stock after buying an additional 1,639 shares during the period. Montecito Bank & Trust’s holdings in Alaska Air Group were worth $495,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ALK. Camarda Financial Advisors LLC bought a new position in Alaska Air Group in the 2nd quarter worth $101,000. Mount Yale Investment Advisors LLC bought a new position in Alaska Air Group in the 1st quarter worth $105,000. Centaurus Financial Inc. bought a new position in Alaska Air Group in the 2nd quarter worth $118,000. Asset Management One Co. Ltd. boosted its holdings in Alaska Air Group by 307.9% in the 1st quarter. Asset Management One Co. Ltd. now owns 2,178 shares of the transportation company’s stock worth $135,000 after buying an additional 1,644 shares during the period. Finally, BDO Wealth Advisors LLC boosted its holdings in Alaska Air Group by 485.0% in the 1st quarter. BDO Wealth Advisors LLC now owns 3,071 shares of the transportation company’s stock worth $190,000 after buying an additional 2,546 shares during the period. 88.72% of the stock is owned by institutional investors.

Shares of ALK stock opened at $61.57 on Friday. The firm has a market capitalization of $8.48 billion, a price-to-earnings ratio of 9.27, a P/E/G ratio of 2.36 and a beta of 0.54. Alaska Air Group, Inc. has a 52 week low of $57.53 and a 52 week high of $81.77. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.71 and a current ratio of 0.73.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results on Thursday, July 26th. The transportation company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.63 by $0.03. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Alaska Air Group had a net margin of 10.28% and a return on equity of 16.99%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.48 EPS. As a group, equities analysts expect that Alaska Air Group, Inc. will post 4.2 earnings per share for the current fiscal year.

Several research analysts recently weighed in on ALK shares. Imperial Capital raised shares of Alaska Air Group from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $62.00 to $95.00 in a report on Thursday, September 27th. Morgan Stanley set a $72.00 price target on shares of Alaska Air Group and gave the stock a “buy” rating in a research note on Friday, October 5th. Bank of America decreased their price target on shares of Alaska Air Group from $70.00 to $66.00 and set a “neutral” rating on the stock in a research note on Friday, July 27th. Zacks Investment Research cut shares of Alaska Air Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 10th. Finally, Deutsche Bank boosted their price target on shares of Alaska Air Group from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Alaska Air Group currently has an average rating of “Hold” and a consensus price target of $76.92.

In other news, EVP Shane R. Tackett sold 3,000 shares of the company’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $66.81, for a total transaction of $200,430.00. Following the sale, the executive vice president now directly owns 8,238 shares in the company, valued at approximately $550,380.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is owned by insiders.

About Alaska Air Group

Alaska Air Group, Inc, through its subsidiaries, provides passengers and cargo air transportation services. It also focuses on providing ground and ramp handling services to airlines. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 118 destinations across the United States, Mexico, Canada, and Costa Rica.

Further Reading: Cash Flow Analysis in Stock Selection

Institutional Ownership by Quarter for Alaska Air Group (NYSE:ALK)

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