Invesco Ltd. Acquires 24,132 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Invesco Ltd. grew its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 688,667 shares of the transportation company’s stock after purchasing an additional 24,132 shares during the quarter. Invesco Ltd. owned approximately 0.54% of Alaska Air Group worth $44,591,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Avior Wealth Management LLC lifted its holdings in Alaska Air Group by 44.8% during the fourth quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock worth $38,000 after buying an additional 182 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Alaska Air Group during the 4th quarter worth $52,000. EverSource Wealth Advisors LLC boosted its position in Alaska Air Group by 61.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 364 shares in the last quarter. Millstone Evans Group LLC purchased a new position in Alaska Air Group in the fourth quarter valued at about $76,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Alaska Air Group in the third quarter worth about $59,000. Hedge funds and other institutional investors own 81.90% of the company’s stock.

Insider Buying and Selling

In related news, EVP Andrew R. Harrison sold 6,600 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $76.28, for a total value of $503,448.00. Following the completion of the sale, the executive vice president now owns 34,030 shares of the company’s stock, valued at approximately $2,595,808.40. The trade was a 16.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Andrea L. Schneider sold 1,830 shares of the 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 transaction, the senior vice president now directly owns 20,286 shares in the company, valued at approximately $1,487,369.52. The trade was a 8.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 154,725 shares of company stock valued at $11,217,263. Corporate insiders own 0.68% of the company’s stock.

Alaska Air Group Trading Up 1.8 %

Shares of Alaska Air Group stock opened at $45.83 on Wednesday. The stock has a market cap of $5.63 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 0.43 and a beta of 1.37. The firm has a fifty day moving average price of $58.99 and a 200 day moving average price of $57.91. Alaska Air Group, Inc. 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 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%. Equities research analysts predict that Alaska Air Group, Inc. will post 6.03 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Alaska Air Group from $70.00 to $79.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Susquehanna cut their price target on shares of Alaska Air Group from $95.00 to $55.00 and set a “positive” rating on the stock in a report on Monday, April 7th. Bank of America decreased their price objective on Alaska Air Group from $80.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. JPMorgan Chase & Co. upped their target price on Alaska Air Group from $85.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, March 3rd. Finally, TD Cowen raised their price target on Alaska Air Group from $85.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $70.15.

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.