Alaska Air Group, Inc. (NYSE:ALK) Stake Cut by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd lessened its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 19.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 19,178 shares of the transportation company’s stock after selling 4,562 shares during the period. Point72 Hong Kong Ltd’s holdings in Alaska Air Group were worth $867,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ALK. Verdence Capital Advisors LLC boosted its holdings in shares of Alaska Air Group by 2.2% during the third quarter. Verdence Capital Advisors LLC now owns 10,180 shares of the transportation company’s stock worth $460,000 after purchasing an additional 215 shares during the period. QRG Capital Management Inc. boosted its stake in shares of Alaska Air Group by 2.7% during the 3rd quarter. QRG Capital Management Inc. now owns 9,271 shares of the transportation company’s stock valued at $419,000 after buying an additional 242 shares during the period. First Trust Direct Indexing L.P. grew its holdings in shares of Alaska Air Group by 4.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,938 shares of the transportation company’s stock valued at $268,000 after acquiring an additional 267 shares in the last quarter. Concurrent Investment Advisors LLC increased its stake in shares of Alaska Air Group by 3.7% in the third quarter. Concurrent Investment Advisors LLC now owns 8,770 shares of the transportation company’s stock worth $397,000 after acquiring an additional 309 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Alaska Air Group by 5.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,063 shares of the transportation company’s stock valued at $326,000 after purchasing an additional 439 shares during the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on ALK. UBS Group reaffirmed a “buy” rating and issued a $72.00 target price on shares of Alaska Air Group in a research report on Tuesday, November 26th. Bank of America raised their price objective on shares of Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, September 13th. TD Cowen decreased their target price on shares of Alaska Air Group from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Evercore ISI reduced their price objective on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. Finally, Barclays upped their price objective on shares of Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.69.

Alaska Air Group Price Performance

NYSE:ALK opened at $52.60 on Monday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57. Alaska Air Group, Inc. has a one year low of $32.00 and a one year high of $54.14. The company has a fifty day moving average price of $47.69 and a 200 day moving average price of $42.00. The stock has a market cap of $6.68 billion, a P/E ratio of 21.21, a PEG ratio of 1.19 and a beta of 1.59.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.03. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3 billion. During the same quarter in the prior year, the business earned $1.83 earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Analysts anticipate that Alaska Air Group, Inc. will post 4.26 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.