10,766 Shares in Alaska Air Group, Inc. (NYSE:ALK) Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. bought a new position in shares of Alaska Air Group, Inc. (NYSE:ALK) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,766 shares of the transportation company’s stock, valued at approximately $487,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALK. Assenagon Asset Management S.A. increased its position in shares of Alaska Air Group by 2,087.8% during the third quarter. Assenagon Asset Management S.A. now owns 762,889 shares of the transportation company’s stock worth $34,490,000 after acquiring an additional 728,019 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Alaska Air Group by 45.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,422,247 shares of the transportation company’s stock worth $64,300,000 after purchasing an additional 442,331 shares during the period. Dimensional Fund Advisors LP raised its position in Alaska Air Group by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company’s stock valued at $262,789,000 after purchasing an additional 357,907 shares in the last quarter. Mesirow Institutional Investment Management Inc. acquired a new stake in Alaska Air Group in the 2nd quarter valued at about $11,475,000. Finally, FMR LLC boosted its stake in shares of Alaska Air Group by 32.4% in the 3rd quarter. FMR LLC now owns 1,084,639 shares of the transportation company’s stock valued at $49,037,000 after buying an additional 265,343 shares during the period. Hedge funds and other institutional investors own 81.90% of the company’s stock.

Analyst Ratings Changes

ALK has been the topic of a number of recent research reports. Bank of America upped their target price on shares of Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. The Goldman Sachs Group reissued a “buy” rating and issued a $70.00 price objective on shares of Alaska Air Group in a research report on Friday, November 15th. Barclays lifted their price objective on shares of Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Susquehanna increased their target price on Alaska Air Group from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Citigroup decreased their price target on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Alaska Air Group presently has a consensus rating of “Moderate Buy” and an average price target of $60.08.

Alaska Air Group Trading Up 2.7 %

NYSE:ALK opened at $55.88 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.93. Alaska Air Group, Inc. has a 52-week low of $32.62 and a 52-week high of $56.95. The stock’s 50 day moving average price is $48.38 and its 200 day moving average price is $42.21. The company has a market capitalization of $7.09 billion, a PE ratio of 21.94, a P/E/G ratio of 1.19 and a beta of 1.60.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.03. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The business had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same period in the previous year, the company posted $1.83 EPS. The company’s quarterly revenue was up 8.2% on a year-over-year basis. On average, research analysts anticipate that Alaska Air Group, Inc. will post 4.26 EPS 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.