Allianz Asset Management GmbH Purchases 12,041 Shares of Alaska Air Group, Inc. $ALK

Allianz Asset Management GmbH raised its position in Alaska Air Group, Inc. (NYSE:ALK) by 10.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 123,947 shares of the transportation company’s stock after acquiring an additional 12,041 shares during the quarter. Allianz Asset Management GmbH’s holdings in Alaska Air Group were worth $6,133,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group lifted its holdings in Alaska Air Group by 41.1% in the first quarter. Brooklyn Investment Group now owns 632 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 184 shares during the period. Headlands Technologies LLC bought a new position in Alaska Air Group in the first quarter valued at about $71,000. KBC Group NV bought a new position in Alaska Air Group in the first quarter valued at about $76,000. State of Wyoming bought a new position in Alaska Air Group in the first quarter valued at about $92,000. Finally, UMB Bank n.a. lifted its holdings in Alaska Air Group by 71.9% in the second quarter. UMB Bank n.a. now owns 2,230 shares of the transportation company’s stock valued at $110,000 after acquiring an additional 933 shares during the period. Institutional investors own 81.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ALK. Susquehanna set a $58.00 price objective on Alaska Air Group and gave the stock a “positive” rating in a research note on Friday, October 3rd. Raymond James Financial set a $68.00 price objective on Alaska Air Group and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Barclays raised their price objective on Alaska Air Group from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. raised their price objective on Alaska Air Group from $73.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Finally, Evercore ISI decreased their price objective on Alaska Air Group from $70.00 to $65.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 16th. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $71.62.

Alaska Air Group Stock Down 2.7%

Shares of ALK opened at $47.69 on Thursday. The business’s 50 day moving average is $55.35 and its 200 day moving average is $51.76. The company has a market capitalization of $5.50 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 0.77 and a beta of 1.40. Alaska Air Group, Inc. has a 12-month low of $39.79 and a 12-month high of $78.08. The company has a current ratio of 0.52, a quick ratio of 0.49 and a debt-to-equity ratio of 1.14.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Wednesday, July 23rd. The transportation company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.22. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.65 billion. Alaska Air Group had a return on equity of 12.62% and a net margin of 2.33%.The firm’s quarterly revenue was up 27.9% on a year-over-year basis. During the same quarter last year, the company earned $2.55 EPS. Research analysts expect that Alaska Air Group, Inc. will post 6.03 earnings per share for the current fiscal year.

Insider Activity at Alaska Air Group

In related news, EVP Andrew R. Harrison sold 7,600 shares of Alaska Air Group stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $53.22, for a total transaction of $404,472.00. Following the sale, the executive vice president owned 18,930 shares of the company’s stock, valued at approximately $1,007,454.60. This trade represents a 28.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kyle B. Levine sold 5,914 shares of Alaska Air Group stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $57.75, for a total value of $341,533.50. Following the sale, the senior vice president directly owned 20,917 shares in the company, valued at $1,207,956.75. This trade represents a 22.04% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,514 shares of company stock valued at $1,031,306. 1.00% of the stock is owned by company insiders.

Alaska Air Group 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.