Alaska Air Group, Inc. (NYSE:ALK) Short Interest Update

Alaska Air Group, Inc. (NYSE:ALK) saw a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 10,290,000 shares, a growth of 15.5% from the September 30th total of 8,910,000 shares. Based on an average daily volume of 2,400,000 shares, the days-to-cover ratio is presently 4.3 days.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Citigroup decreased their price objective on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Susquehanna lifted their price target on Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Bank of America increased their target price on Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Barclays began coverage on Alaska Air Group in a report on Monday, October 21st. They issued an “overweight” rating and a $55.00 price target for the company. Finally, Melius upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Monday. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Alaska Air Group currently has a consensus rating of “Moderate Buy” and an average price target of $54.17.

Hedge Funds Weigh In On Alaska Air Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Altshuler Shaham Ltd bought a new stake in Alaska Air Group during the 2nd quarter valued at $28,000. Pacifica Partners Inc. raised its stake in shares of Alaska Air Group by 952.4% during the third quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock valued at $50,000 after purchasing an additional 1,000 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Alaska Air Group in the second quarter worth about $69,000. Halpern Financial Inc. bought a new position in Alaska Air Group in the 2nd quarter valued at about $81,000. Finally, GAMMA Investing LLC increased its stake in Alaska Air Group by 31.7% during the 2nd quarter. GAMMA Investing LLC now owns 2,602 shares of the transportation company’s stock valued at $105,000 after buying an additional 626 shares during the period. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Alaska Air Group Stock Performance

Alaska Air Group stock traded down $0.38 during midday trading on Tuesday, reaching $46.72. 104,060 shares of the stock traded hands, compared to its average volume of 2,256,518. The firm has a fifty day moving average price of $41.17 and a two-hundred day moving average price of $40.66. Alaska Air Group has a fifty-two week low of $30.75 and a fifty-two week high of $47.45. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 0.66 and a beta of 1.60. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55.

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.