Entropy Technologies LP Has $1.24 Million Stake in Alaska Air Group, Inc. (NYSE:ALK)

Entropy Technologies LP boosted its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 358.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,428 shares of the transportation company’s stock after acquiring an additional 21,451 shares during the quarter. Entropy Technologies LP’s holdings in Alaska Air Group were worth $1,240,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Alaska Air Group in the first quarter worth about $499,000. Janney Montgomery Scott LLC boosted its stake in Alaska Air Group by 3.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,780 shares of the transportation company’s stock valued at $764,000 after purchasing an additional 559 shares during the period. Swiss National Bank grew its stake in shares of Alaska Air Group by 0.8% in the first quarter. Swiss National Bank now owns 63,200 shares of the transportation company’s stock worth $2,717,000 after acquiring an additional 500 shares during the last quarter. Sei Investments Co. raised its stake in Alaska Air Group by 23.3% during the 1st quarter. Sei Investments Co. now owns 60,538 shares of the transportation company’s stock valued at $2,602,000 after purchasing an additional 11,447 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in Alaska Air Group by 22.6% in the 1st quarter. QRG Capital Management Inc. now owns 8,623 shares of the transportation company’s stock valued at $371,000 after purchasing an additional 1,591 shares during the period. 81.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on ALK. Morgan Stanley cut their price target on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Citigroup decreased their target price on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. 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 report on Monday, October 28th. Evercore ISI cut their price target on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, October 3rd. Finally, Melius Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.17.

Alaska Air Group Price Performance

Shares of NYSE ALK opened at $51.68 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57. The business has a 50-day moving average of $44.55 and a 200-day moving average of $41.20. The stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 1.16 and a beta of 1.59. Alaska Air Group, Inc. has a fifty-two week low of $32.00 and a fifty-two week high of $52.70.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03. The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.83 earnings per share. As a group, sell-side analysts predict that Alaska Air Group, Inc. will post 4.26 earnings per share for the current fiscal year.

About Alaska Air Group

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.