Morgan Stanley Acquires 63,418 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Morgan Stanley increased its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 8.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 853,433 shares of the transportation company’s stock after purchasing an additional 63,418 shares during the quarter. Morgan Stanley owned approximately 0.69% of Alaska Air Group worth $44,378,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Captrust Financial Advisors boosted its position in Alaska Air Group by 386.2% during the fourth quarter. Captrust Financial Advisors now owns 8,829 shares of the transportation company’s stock valued at $459,000 after acquiring an additional 7,013 shares during the last quarter. Guggenheim Capital LLC raised its holdings in shares of Alaska Air Group by 61.7% during the fourth quarter. Guggenheim Capital LLC now owns 164,633 shares of the transportation company’s stock valued at $8,561,000 after purchasing an additional 62,816 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Alaska Air Group by 29.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,163,490 shares of the transportation company’s stock valued at $476,501,000 after purchasing an additional 2,082,579 shares during the period. Kingsview Wealth Management LLC acquired a new position in shares of Alaska Air Group during the fourth quarter valued at about $510,000. Finally, Amundi Pioneer Asset Management Inc. raised its holdings in shares of Alaska Air Group by 193.1% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 389,300 shares of the transportation company’s stock valued at $20,243,000 after purchasing an additional 256,490 shares during the period. 73.10% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently weighed in on the stock. Susquehanna Bancshares upped their price objective on shares of Alaska Air Group from $50.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, January 14th. Morgan Stanley upgraded shares of Alaska Air Group from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $49.00 to $90.00 in a report on Tuesday. Zacks Investment Research lowered shares of Alaska Air Group from a “hold” rating to a “sell” rating and set a $75.00 price objective for the company. in a research note on Monday, March 22nd. Wolfe Research upgraded shares of Alaska Air Group to a “neutral” rating in a research note on Friday, March 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Monday, March 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $62.00.

In related news, Director J Kenneth Thompson sold 2,500 shares of Alaska Air Group stock in a transaction on Monday, March 8th. The shares were sold at an average price of $68.66, for a total value of $171,650.00. Following the transaction, the director now owns 37,495 shares in the company, valued at approximately $2,574,406.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Andrew R. Harrison sold 6,200 shares of the firm’s stock in a transaction on Monday, February 8th. The stock was sold at an average price of $57.50, for a total transaction of $356,500.00. Following the completion of the sale, the executive vice president now directly owns 22,055 shares in the company, valued at approximately $1,268,162.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,425 shares of company stock worth $3,448,908. 0.47% of the stock is owned by corporate insiders.

NYSE ALK opened at $72.36 on Thursday. Alaska Air Group, Inc. has a 1 year low of $23.39 and a 1 year high of $74.25. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.06 and a quick ratio of 1.05. The stock has a market capitalization of $9.00 billion, a PE ratio of -12.85 and a beta of 1.81. The company’s 50 day simple moving average is $67.04 and its two-hundred day simple moving average is $52.02.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Monday, January 25th. The transportation company reported ($2.55) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.91) by $0.36. The firm had revenue of $808.00 million for the quarter, compared to analysts’ expectations of $813.37 million. Alaska Air Group had a negative net margin of 13.96% and a negative return on equity of 19.39%. The business’s quarterly revenue was down 63.7% on a year-over-year basis. During the same quarter last year, the company posted $1.46 EPS. On average, research analysts anticipate that Alaska Air Group, Inc. will post -10.43 EPS for the current year.

About Alaska Air Group

Alaska Air Group, Inc is a holding company, which engages in the provision of air transportation services. It operates through the following segments: Mainline, Regional and Horizon. The Mainline segment includes Alaska’s Boeing or Airbus jet aircraft for passengers and cargo throughout the U.S., and in parts of Canada, Mexico, and Costa Rica.

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Institutional Ownership by Quarter for Alaska Air Group (NYSE:ALK)

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