Friedenthal Financial Acquires New Shares in Alaska Air Group, Inc. $ALK

Friedenthal Financial bought a new position in Alaska Air Group, Inc. (NYSE:ALK) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 19,670 shares of the transportation company’s stock, valued at approximately $979,000.

Several other hedge funds have also recently modified their holdings of ALK. Brighton Jones LLC lifted its holdings in shares of Alaska Air Group by 31.7% during the third quarter. Brighton Jones LLC now owns 10,476 shares of the transportation company’s stock valued at $521,000 after purchasing an additional 2,524 shares in the last quarter. Oak Thistle LLC bought a new position in Alaska Air Group during the 3rd quarter valued at about $1,636,000. GAMMA Investing LLC lifted its stake in Alaska Air Group by 6.0% during the 3rd quarter. GAMMA Investing LLC now owns 4,387 shares of the transportation company’s stock valued at $218,000 after acquiring an additional 249 shares during the period. Texas Permanent School Fund Corp boosted its holdings in shares of Alaska Air Group by 25.1% during the 2nd quarter. Texas Permanent School Fund Corp now owns 86,413 shares of the transportation company’s stock valued at $4,276,000 after acquiring an additional 17,359 shares during the last quarter. Finally, Valeo Financial Advisors LLC grew its stake in shares of Alaska Air Group by 9.0% in the second quarter. Valeo Financial Advisors LLC now owns 8,523 shares of the transportation company’s stock worth $422,000 after acquiring an additional 702 shares during the period. Hedge funds and other institutional investors own 81.90% of the company’s stock.

Alaska Air Group Stock Performance

ALK opened at $51.20 on Wednesday. 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 has a market capitalization of $5.94 billion, a price-to-earnings ratio of 41.29, a PEG ratio of 1.21 and a beta of 1.24. The company has a fifty day moving average of $45.21 and a 200 day moving average of $50.71. Alaska Air Group, Inc. has a fifty-two week low of $37.63 and a fifty-two week high of $78.08.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings data on Thursday, October 23rd. The transportation company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.06). The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 22.6% on a year-over-year basis. During the same period last year, the company earned $2.25 EPS. As a group, sell-side analysts forecast that Alaska Air Group, Inc. will post 6.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ALK has been the topic of a number of research analyst reports. Citigroup began coverage on shares of Alaska Air Group in a research report on Thursday, December 4th. They set a “buy” rating and a $61.00 price objective on the stock. Raymond James Financial reiterated an “outperform” rating and set a $71.00 price target on shares of Alaska Air Group in a research note on Friday. Zacks Research upgraded Alaska Air Group from a “strong sell” rating to a “hold” rating in a research note on Friday, December 5th. TD Cowen upped their target price on shares of Alaska Air Group from $61.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Finally, Wall Street Zen lowered Alaska Air Group from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $69.73.

About Alaska Air Group

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.