Alaska Air Group, Inc. $ALK Stock Position Decreased by Deltec Asset Management LLC

Deltec Asset Management LLC decreased its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 5.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 279,360 shares of the transportation company’s stock after selling 16,250 shares during the period. Alaska Air Group accounts for 1.7% of Deltec Asset Management LLC’s investment portfolio, making the stock its 15th biggest holding. Deltec Asset Management LLC’s holdings in Alaska Air Group were worth $10,811,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Alaska Air Group in the 2nd quarter valued at $606,307,000. Primecap Management Co. CA acquired a new position in shares of Alaska Air Group during the second quarter valued at about $168,467,000. Bank of New York Mellon Corp acquired a new position in shares of Alaska Air Group during the second quarter valued at about $34,776,000. Bank of America Corp DE bought a new stake in shares of Alaska Air Group in the second quarter valued at about $32,751,000. Finally, Privium Fund Management UK Ltd bought a new stake in shares of Alaska Air Group in the 2nd quarter worth approximately $27,195,000. 81.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on ALK shares. Wall Street Zen lowered shares of Alaska Air Group from a “sell” rating to a “strong sell” rating in a research report on Monday, October 5th. TD Cowen decreased their target price on Alaska Air Group from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Friday, October 2nd. Zacks Research lowered shares of Alaska Air Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 21st. Barclays set a $52.00 target price on Alaska Air Group and gave the company an “overweight” rating in a research note on Friday, September 11th. Finally, JPMorgan Chase & Co. dropped their target price on Alaska Air Group from $92.00 to $74.00 and set an “overweight” rating for the company in a research report on Thursday, October 22nd. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Alaska Air Group currently has an average rating of “Moderate Buy” and an average price target of $53.23.

Insider Buying and Selling

In other news, EVP Andrew R. Harrison sold 5,300 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $49.67, for a total value of $263,251.00. Following the sale, the executive vice president directly owned 25,528 shares in the company, valued at $1,267,975.76. The trade was a 17.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Benito Minicucci purchased 25,000 shares of Alaska Air Group stock in a transaction on Thursday, August 20th. The shares were purchased at an average cost of $40.06 per share, with a total value of $1,001,500.00. Following the transaction, the chief executive officer owned 256,582 shares in the company, valued at approximately $10,278,674.92. The trade was a 10.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.00% of the stock is currently owned by corporate insiders.

Alaska Air Group Price Performance

Shares of ALK opened at $34.93 on Tuesday. The stock has a market cap of $3.89 billion, a P/E ratio of -9.95 and a beta of 1.33. The stock’s 50-day moving average price is $39.61 and its two-hundred day moving average price is $44.39. The company has a current ratio of 0.46, a quick ratio of 0.42 and a debt-to-equity ratio of 1.49. Alaska Air Group, Inc. has a 1 year low of $32.33 and a 1 year high of $60.63.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Tuesday, October 20th. The transportation company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03). Alaska Air Group had a negative net margin of 2.58% and a negative return on equity of 5.42%. The firm had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the previous year, the company posted $1.05 EPS. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, equities analysts predict that Alaska Air Group, Inc. will post -3.82 earnings per share for the current year.

Alaska Air Group Company Profile

Alaska Air Group, Inc is an airline holding company headquartered in Seattle, Washington. Its principal subsidiaries include Alaska Airlines and Hawaiian Airlines, which operate under separate brands while serving passengers throughout North America, the Pacific and other international markets.

Alaska Airlines provides scheduled passenger and air cargo services across the United States, Canada, Mexico, Costa Rica and the Bahamas, with a strong presence on the U.S. West Coast and in Alaska.