Edgestream Partners L.P. Has $2.83 Million Position in Alaska Air Group, Inc. $ALK

Edgestream Partners L.P. boosted its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 283.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,091 shares of the transportation company’s stock after buying an additional 42,221 shares during the quarter. Edgestream Partners L.P.’s holdings in Alaska Air Group were worth $2,825,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in shares of Alaska Air Group by 2,046.4% during the fourth quarter. Brighton Jones LLC now owns 96,932 shares of the transportation company’s stock valued at $6,276,000 after acquiring an additional 92,416 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Alaska Air Group by 7.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,439 shares of the transportation company’s stock valued at $563,000 after purchasing an additional 819 shares during the period. Federated Hermes Inc. bought a new position in Alaska Air Group during the 1st quarter worth $574,000. US Bancorp DE lifted its holdings in Alaska Air Group by 1.0% during the 1st quarter. US Bancorp DE now owns 21,982 shares of the transportation company’s stock worth $1,082,000 after buying an additional 210 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of Alaska Air Group by 107.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 26,648 shares of the transportation company’s stock valued at $1,312,000 after buying an additional 13,798 shares during the last quarter. 81.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ALK. TD Cowen raised their price objective 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 downgraded shares of Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Raymond James Financial set a $65.00 price target on shares of Alaska Air Group and gave the stock an “outperform” rating in a research report on Monday, October 27th. Susquehanna set a $58.00 price objective on shares of Alaska Air Group and gave the company a “positive” rating in a research note on Friday, October 3rd. Finally, Citigroup initiated coverage on shares of Alaska Air Group in a research report on Thursday. They set a “buy” rating and a $61.00 price objective for the company. Twelve equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $71.42.

Alaska Air Group Price Performance

Alaska Air Group stock opened at $47.30 on Friday. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 38.15, a PEG ratio of 0.87 and a beta of 1.24. Alaska Air Group, Inc. has a 52-week low of $37.63 and a 52-week high of $78.08. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.49 and a current ratio of 0.52. The stock’s 50 day moving average price is $44.61 and its two-hundred day moving average price is $50.71.

Alaska Air Group (NYSE:ALK) last released its earnings results 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). The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.75 billion. Alaska Air Group had a net margin of 1.06% and a return on equity of 8.93%. The firm’s revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.25 EPS. On average, equities analysts predict that Alaska Air Group, Inc. will post 6.03 earnings per share for the current year.

Alaska Air Group Company 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.