Great Lakes Advisors LLC Sells 1,198 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Great Lakes Advisors LLC cut its stake in Alaska Air Group, Inc. (NYSE:ALK) by 0.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 320,874 shares of the transportation company’s stock after selling 1,198 shares during the quarter. Great Lakes Advisors LLC’s holdings in Alaska Air Group were worth $19,352,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ALK. JPMorgan Chase & Co. lifted its position in Alaska Air Group by 633.5% in the first quarter. JPMorgan Chase & Co. now owns 1,452,057 shares of the transportation company’s stock worth $100,496,000 after buying an additional 1,254,099 shares during the last quarter. Artisan Partners Limited Partnership bought a new stake in Alaska Air Group in the first quarter worth $83,096,000. Melvin Capital Management LP bought a new stake in Alaska Air Group in the first quarter worth $71,494,000. Ardevora Asset Management LLP bought a new stake in Alaska Air Group in the second quarter worth $55,178,000. Finally, Point72 Asset Management L.P. lifted its position in Alaska Air Group by 151.2% in the first quarter. Point72 Asset Management L.P. now owns 832,945 shares of the transportation company’s stock worth $57,648,000 after buying an additional 501,336 shares during the last quarter. Institutional investors own 75.03% of the company’s stock.

In other Alaska Air Group news, Chairman Bradley D. Tilden sold 4,875 shares of the firm’s stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $58.72, for a total value of $286,260.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders sold 14,665 shares of company stock valued at $862,324. Corporate insiders own 0.73% of the company’s stock.

A number of analysts recently issued reports on the company. MKM Partners initiated coverage on Alaska Air Group in a research report on Thursday, June 10th. They issued a “buy” rating and a $81.00 price target for the company. Wolfe Research upgraded Alaska Air Group from a “peer perform” rating to an “outperform” rating in a research note on Friday, June 18th. Morgan Stanley reduced their target price on Alaska Air Group from $89.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 14th. Finally, Raymond James reduced their target price on Alaska Air Group from $85.00 to $78.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, July 20th. One equities research analyst has rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $77.70.

ALK opened at $58.48 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.98 and a quick ratio of 0.97. The firm has a market capitalization of $7.32 billion, a PE ratio of -11.82 and a beta of 1.76. The business’s 50-day moving average is $57.04 and its two-hundred day moving average is $63.41. Alaska Air Group, Inc. has a 1 year low of $34.83 and a 1 year high of $74.25.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Wednesday, July 21st. The transportation company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.14. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. Alaska Air Group had a negative return on equity of 37.62% and a negative net margin of 15.52%. The company’s quarterly revenue was up 262.7% on a year-over-year basis. During the same quarter last year, the company earned ($3.54) earnings per share. As a group, sell-side analysts expect that Alaska Air Group, Inc. will post -1.43 EPS for the current year.

Alaska Air Group Company Profile

Alaska Air Group, Inc is a holding company, which engages in the provision of air transportation services. It operates through the following segments: Mainline, Regional and Horizon. The Mainline segment includes Alaska’s Boeing or Airbus jet aircraft for passengers and cargo throughout the U.S., and in parts of Canada, Mexico, and Costa Rica.

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

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