Short Interest in Alaska Air Group, Inc. (NYSE:ALK) Decreases By 7.7%

Alaska Air Group, Inc. (NYSE:ALK) was the target of a significant decline in short interest in January. As of January 31st, there was short interest totalling 5,970,000 shares, a decline of 7.7% from the January 15th total of 6,470,000 shares. Based on an average daily volume of 2,720,000 shares, the short-interest ratio is presently 2.2 days.

Insider Transactions at Alaska Air Group

In other news, CFO Shane R. Tackett sold 22,893 shares of Alaska Air Group stock in a transaction on Monday, February 10th. The shares were sold at an average price of $75.74, for a total value of $1,733,915.82. Following the transaction, the chief financial officer now directly owns 31,873 shares of the company’s stock, valued at $2,414,061.02. The trade was a 41.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Andrea L. Schneider sold 1,830 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $73.32, for a total transaction of $134,175.60. Following the completion of the sale, the senior vice president now owns 20,286 shares of the company’s stock, valued at approximately $1,487,369.52. This trade represents a 8.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 160,441 shares of company stock worth $11,247,722. Corporate insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Alaska Air Group

Several hedge funds have recently modified their holdings of the company. Blue Trust Inc. lifted its stake in shares of Alaska Air Group by 22.6% during the third quarter. Blue Trust Inc. now owns 3,144 shares of the transportation company’s stock valued at $142,000 after buying an additional 579 shares during the period. Jade Capital Advisors LLC lifted its stake in shares of Alaska Air Group by 337.5% during the 3rd quarter. Jade Capital Advisors LLC now owns 175,000 shares of the transportation company’s stock worth $7,912,000 after purchasing an additional 135,000 shares during the period. Plan Group Financial LLC purchased a new position in shares of Alaska Air Group during the 3rd quarter worth $356,000. International Assets Investment Management LLC acquired a new stake in shares of Alaska Air Group during the third quarter worth $86,270,000. Finally, Assenagon Asset Management S.A. grew its position in shares of Alaska Air Group by 2,087.8% in the third quarter. Assenagon Asset Management S.A. now owns 762,889 shares of the transportation company’s stock valued at $34,490,000 after purchasing an additional 728,019 shares during the period. 81.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ALK has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Alaska Air Group from $58.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Melius raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Monday, October 28th. Bank of America lifted their price target on Alaska Air Group from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Citigroup raised their target price on Alaska Air Group from $63.00 to $74.00 and gave the company a “buy” rating in a report on Monday, December 16th. Finally, TD Cowen upped their price target on shares of Alaska Air Group from $85.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Alaska Air Group has a consensus rating of “Moderate Buy” and a consensus price target of $74.86.

Alaska Air Group Price Performance

Shares of ALK traded down $0.38 during mid-day trading on Tuesday, reaching $75.36. 1,773,185 shares of the company’s stock were exchanged, compared to its average volume of 2,767,683. Alaska Air Group has a 52-week low of $32.62 and a 52-week high of $76.45. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. The company has a 50-day simple moving average of $68.62 and a two-hundred day simple moving average of $52.71. The company has a market cap of $9.57 billion, a price-to-earnings ratio of 24.71, a PEG ratio of 0.67 and a beta of 1.55.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.52. Alaska Air Group had a return on equity of 14.66% and a net margin of 3.37%. On average, sell-side analysts predict that Alaska Air Group will post 6.03 EPS for the current fiscal 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.