Alaska Air Group, Inc. (NYSE:ALK) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,136 shares of the transportation company’s stock after selling 1,193 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Alaska Air Group were worth $2,187,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of ALK. Jade Capital Advisors LLC purchased a new position in shares of Alaska Air Group in the 4th quarter valued at about $1,954,000. Pinebridge Investments L.P. acquired a new position in Alaska Air Group during the 4th quarter worth approximately $1,144,000. Interval Partners LP increased its position in shares of Alaska Air Group by 100.0% in the 1st quarter. Interval Partners LP now owns 80,000 shares of the transportation company’s stock valued at $3,439,000 after purchasing an additional 40,000 shares during the last quarter. Boston Partners raised its holdings in shares of Alaska Air Group by 64.6% in the 4th quarter. Boston Partners now owns 3,811,191 shares of the transportation company’s stock valued at $148,861,000 after purchasing an additional 1,495,311 shares in the last quarter. Finally, Capital Research Global Investors purchased a new stake in shares of Alaska Air Group during the 1st quarter worth $36,993,000. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Alaska Air Group Stock Performance

Shares of ALK stock traded up $0.31 during trading hours on Friday, reaching $36.11. 1,956,677 shares of the company’s stock were exchanged, compared to its average volume of 2,208,175. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.65 and a quick ratio of 0.63. Alaska Air Group, Inc. has a 1 year low of $30.75 and a 1 year high of $46.15. The company has a market cap of $4.58 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 0.67 and a beta of 1.60. The company’s 50 day moving average is $37.26 and its two-hundred day moving average is $39.76.

Alaska Air Group (NYSE:ALK) last released its earnings results on Thursday, July 18th. The transportation company reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.19. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.94 billion. Alaska Air Group had a return on equity of 11.97% and a net margin of 2.14%. Alaska Air Group’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.00 earnings per share. Equities research analysts anticipate that Alaska Air Group, Inc. will post 4.09 EPS for the current fiscal year.

Analysts Set New Price Targets

ALK has been the topic of a number of recent analyst reports. Citigroup dropped their price objective on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday. Susquehanna dropped their price target on Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 16th. Wolfe Research raised shares of Alaska Air Group from a “peer perform” rating to an “outperform” rating and set a $55.00 target price on the stock in a report on Friday, May 17th. TD Cowen reduced their price target on shares of Alaska Air Group from $58.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, Morgan Stanley dropped their price objective on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

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.