Alaska Air Group, Inc. (NYSE:ALK) Short Interest Down 24.1% in March

Alaska Air Group, Inc. (NYSE:ALK) was the recipient of a significant drop in short interest in March. As of March 15th, there was short interest totalling 4,850,000 shares, a drop of 24.1% from the February 28th total of 6,390,000 shares. Based on an average daily volume of 3,340,000 shares, the days-to-cover ratio is currently 1.5 days. Approximately 4.0% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ALK shares. Susquehanna raised Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 target price on the stock in a report on Tuesday, January 7th. UBS Group reduced their price objective on Alaska Air Group from $87.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. Bank of America increased their target price on Alaska Air Group from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Morgan Stanley boosted their price target on shares of Alaska Air Group from $70.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Alaska Air Group from $85.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $77.00.

Alaska Air Group Stock Down 4.5 %

Shares of NYSE:ALK opened at $50.16 on Monday. The firm has a market capitalization of $6.15 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 0.43 and a beta of 1.50. The business has a 50 day simple moving average of $66.07 and a two-hundred day simple moving average of $57.68. Alaska Air Group has a 1 year low of $32.62 and a 1 year high of $78.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.58.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, equities analysts predict that Alaska Air Group will post 6.03 EPS for the current year.

Insider Buying and Selling

In related news, 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 transaction, the senior vice president now owns 20,286 shares in the company, valued at approximately $1,487,369.52. This represents a 8.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew R. Harrison sold 6,600 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $76.28, for a total transaction of $503,448.00. Following the transaction, the executive vice president now directly owns 34,030 shares of the company’s stock, valued at $2,595,808.40. The trade was a 16.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 154,725 shares of company stock worth $11,217,263. 0.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Maryland State Retirement & Pension System raised its position in Alaska Air Group by 0.3% during the 4th quarter. Maryland State Retirement & Pension System now owns 49,905 shares of the transportation company’s stock valued at $3,231,000 after purchasing an additional 147 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Alaska Air Group by 0.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 29,816 shares of the transportation company’s stock valued at $1,931,000 after acquiring an additional 160 shares in the last quarter. Avior Wealth Management LLC lifted its stake in Alaska Air Group by 44.8% in the fourth quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock worth $38,000 after acquiring an additional 182 shares during the period. Savant Capital LLC grew its holdings in Alaska Air Group by 3.4% during the 4th quarter. Savant Capital LLC now owns 6,284 shares of the transportation company’s stock worth $407,000 after acquiring an additional 206 shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its position in Alaska Air Group by 1.3% during the 4th quarter. Mutual of America Capital Management LLC now owns 19,229 shares of the transportation company’s stock valued at $1,245,000 after purchasing an additional 254 shares during the period. Hedge funds and other institutional investors own 81.90% of the company’s stock.

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.