Assenagon Asset Management S.A. Has $1.03 Million Stock Position in Alaska Air Group, Inc. (NYSE:ALK)

Assenagon Asset Management S.A. trimmed its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 76.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,938 shares of the transportation company’s stock after selling 66,486 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Alaska Air Group were worth $1,031,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Wood Tarver Financial Group LLC acquired a new stake in Alaska Air Group during the fourth quarter valued at approximately $38,000. Perkins Coie Trust Co boosted its holdings in Alaska Air Group by 125.7% during the first quarter. Perkins Coie Trust Co now owns 677 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 377 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Alaska Air Group during the fourth quarter valued at approximately $52,000. EverSource Wealth Advisors LLC boosted its holdings in Alaska Air Group by 61.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 364 shares in the last quarter. Finally, Millstone Evans Group LLC acquired a new stake in Alaska Air Group during the fourth quarter valued at approximately $76,000. 81.90% of the stock is owned by institutional investors and hedge funds.

Alaska Air Group Stock Up 0.4%

NYSE:ALK opened at $46.88 on Thursday. The stock’s fifty day moving average price is $48.82 and its two-hundred day moving average price is $58.13. Alaska Air Group, Inc. has a 52-week low of $32.62 and a 52-week high of $78.08. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.52 and a current ratio of 0.56. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 17.05, a P/E/G ratio of 0.47 and a beta of 1.44.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Wednesday, April 23rd. The transportation company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.05). Alaska Air Group had a return on equity of 15.01% and a net margin of 2.86%. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period in the prior year, the company posted ($0.92) EPS. The firm’s quarterly revenue was up 40.5% compared to the same quarter last year. On average, analysts anticipate that Alaska Air Group, Inc. will post 6.03 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ALK shares. Susquehanna decreased their price objective on Alaska Air Group from $95.00 to $55.00 and set a “positive” rating on the stock in a report on Monday, April 7th. TD Cowen lifted their price objective on Alaska Air Group from $54.00 to $62.00 and gave the company a “buy” rating in a report on Friday, April 25th. JPMorgan Chase & Co. boosted their target price on Alaska Air Group from $85.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, March 3rd. Citigroup reduced their target price on Alaska Air Group from $83.00 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Finally, Barclays reduced their target price on Alaska Air Group from $62.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Alaska Air Group has an average rating of “Moderate Buy” and an average target price of $66.83.

Insiders Place Their Bets

In other news, EVP Andrew R. Harrison sold 7,500 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $53.51, for a total value of $401,325.00. Following the transaction, the executive vice president now owns 26,530 shares of the company’s stock, valued at $1,419,620.30. This represents a 22.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Emily Halverson sold 2,946 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $51.34, for a total value of $151,247.64. Following the completion of the transaction, the vice president now directly owns 8,253 shares in the company, valued at approximately $423,709.02. This trade represents a 26.31% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,479 shares of company stock valued at $554,228. 1.00% of the stock is currently owned by corporate insiders.

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.