Primecap Management Co. CA Sells 30,897 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Primecap Management Co. CA cut its position in Alaska Air Group, Inc. (NYSE:ALK) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,821,450 shares of the transportation company’s stock after selling 30,897 shares during the quarter. Primecap Management Co. CA’s holdings in Alaska Air Group were worth $247,439,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Avior Wealth Management LLC raised its holdings 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 purchasing an additional 182 shares in the last quarter. Pacific Center for Financial Services bought a new position in Alaska Air Group in the third quarter worth about $45,000. True Wealth Design LLC bought a new position in Alaska Air Group in the third quarter worth about $52,000. SBI Securities Co. Ltd. bought a new position in Alaska Air Group in the fourth quarter worth about $52,000. Finally, Quarry LP raised its holdings in Alaska Air Group by 259.3% in the third quarter. Quarry LP now owns 1,175 shares of the transportation company’s stock worth $53,000 after purchasing an additional 848 shares in the last quarter. 81.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Andrea L. Schneider sold 800 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $63.89, for a total transaction of $51,112.00. Following the transaction, the senior vice president now owns 20,286 shares in the company, valued at $1,296,072.54. This trade represents a 3.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Andrew R. Harrison sold 91,745 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $71.14, for a total value of $6,526,739.30. Following the transaction, the executive vice president now owns 20,638 shares in the company, valued at $1,468,187.32. This trade represents a 81.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 159,179 shares of company stock worth $11,503,659. Corporate insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ALK shares. UBS Group upped their price objective on shares of Alaska Air Group from $81.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Bank of America upped their price objective on shares of Alaska Air Group from $70.00 to $80.00 and gave the company a “buy” rating in a report on Friday, January 17th. Citigroup upped their price objective on shares of Alaska Air Group from $63.00 to $74.00 and gave the company a “buy” rating in a report on Monday, December 16th. The Goldman Sachs Group upped their price objective on shares of Alaska Air Group from $70.00 to $79.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, Susquehanna upgraded shares of Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 price objective on the stock in a report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Alaska Air Group presently has a consensus rating of “Moderate Buy” and an average price target of $77.00.

Alaska Air Group Trading Up 2.2 %

Alaska Air Group stock opened at $55.12 on Tuesday. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04. Alaska Air Group, Inc. has a 12 month low of $32.62 and a 12 month high of $78.08. The stock’s 50 day simple moving average is $68.54 and its two-hundred day simple moving average is $56.71. The firm has a market cap of $6.78 billion, a PE ratio of 18.07, a P/E/G ratio of 0.43 and a beta of 1.50.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.97 EPS for the quarter, topping 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%. Analysts anticipate that Alaska Air Group, Inc. will post 6.03 earnings per share for the current year.

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.