U S Global Investors Inc. Cuts Stock Position in Alaska Air Group, Inc. $ALK

U S Global Investors Inc. lessened its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 22.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 371,365 shares of the transportation company’s stock after selling 107,687 shares during the quarter. Alaska Air Group accounts for 2.1% of U S Global Investors Inc.’s investment portfolio, making the stock its 11th largest position. U S Global Investors Inc. owned approximately 0.32% of Alaska Air Group worth $18,487,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ALK. Allianz Asset Management GmbH increased its holdings in Alaska Air Group by 10.8% during the second quarter. Allianz Asset Management GmbH now owns 123,947 shares of the transportation company’s stock worth $6,133,000 after buying an additional 12,041 shares during the last quarter. First Pacific Financial boosted its stake in Alaska Air Group by 5,268.0% in the second quarter. First Pacific Financial now owns 10,736 shares of the transportation company’s stock valued at $531,000 after acquiring an additional 10,536 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in Alaska Air Group in the second quarter valued at about $594,000. Advisors Asset Management Inc. grew its position in shares of Alaska Air Group by 355.7% during the 1st quarter. Advisors Asset Management Inc. now owns 7,770 shares of the transportation company’s stock valued at $382,000 after acquiring an additional 6,065 shares during the period. Finally, Summit Investment Advisors Inc. purchased a new stake in shares of Alaska Air Group during the 1st quarter worth approximately $1,192,000. 81.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ALK shares. Evercore ISI lowered their price target on shares of Alaska Air Group from $70.00 to $65.00 and set an “outperform” rating on the stock in a report on Tuesday, September 16th. TD Cowen raised their target price on Alaska Air Group from $61.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Wall Street Zen cut Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. JPMorgan Chase & Co. increased their price target on Alaska Air Group from $73.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Finally, Citigroup started coverage on Alaska Air Group in a research note on Thursday, December 4th. They issued a “buy” rating and a $61.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Alaska Air Group presently has an average rating of “Buy” and a consensus target price of $69.73.

Alaska Air Group Price Performance

Shares of NYSE ALK opened at $51.50 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.49 and a current ratio of 0.52. Alaska Air Group, Inc. has a fifty-two week low of $37.63 and a fifty-two week high of $78.08. The stock has a market cap of $5.97 billion, a PE ratio of 41.53, a price-to-earnings-growth ratio of 0.52 and a beta of 1.22. The stock has a fifty day moving average of $45.73 and a 200-day moving average of $50.78.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Thursday, October 23rd. The transportation company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.06). Alaska Air Group had a return on equity of 8.93% and a net margin of 1.06%.The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same period last year, the company posted $2.25 EPS. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. Equities research analysts anticipate that Alaska Air Group, Inc. will post 6.03 earnings per share for the current year.

Alaska Air Group Company Profile

Alaska Air Group is a publicly traded holding company headquartered in Seattle, Washington, that operates two main airlines—Alaska Airlines and Horizon Air. Through these carriers, the company offers scheduled passenger and cargo services across a network spanning the United States, Canada and Mexico. Its core business activities include domestic and international air transportation, loyalty program management under the Mileage Plan brand, and ancillary revenue streams such as baggage fees, in-flight sales and code-share partnerships with other global airlines.

The roots of Alaska Air Group trace back to the foundation of its flagship carrier, Alaska Airlines, in 1932.