TRUE Private Wealth Advisors Purchases 1,079 Shares of Alaska Air Group, Inc. (NYSE:ALK)

TRUE Private Wealth Advisors increased its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 6.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,222 shares of the transportation company’s stock after acquiring an additional 1,079 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Alaska Air Group were worth $779,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raymond James & Associates grew its holdings in Alaska Air Group by 13.5% during the second quarter. Raymond James & Associates now owns 283,581 shares of the transportation company’s stock valued at $11,457,000 after purchasing an additional 33,717 shares during the period. Entropy Technologies LP boosted its holdings in shares of Alaska Air Group by 358.9% in the 3rd quarter. Entropy Technologies LP now owns 27,428 shares of the transportation company’s stock worth $1,240,000 after purchasing an additional 21,451 shares in the last quarter. Comerica Bank grew its position in Alaska Air Group by 88.0% during the first quarter. Comerica Bank now owns 174,178 shares of the transportation company’s stock valued at $7,488,000 after acquiring an additional 81,533 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Alaska Air Group by 211.7% during the 1st quarter. Cetera Investment Advisers now owns 47,770 shares of the transportation company’s stock valued at $2,054,000 after purchasing an additional 32,442 shares during the last quarter. Finally, Quantbot Technologies LP increased its holdings in shares of Alaska Air Group by 156.3% in the third quarter. Quantbot Technologies LP now owns 83,777 shares of the transportation company’s stock worth $3,788,000 after buying an additional 51,096 shares during the period. 81.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Melius Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Monday, October 28th. Evercore ISI lowered their target price on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, October 3rd. Bank of America upped their price target on shares of Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Susquehanna increased their target price on Alaska Air Group from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Melius upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Monday, October 28th. Three 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, Alaska Air Group presently has an average rating of “Moderate Buy” and a consensus target price of $58.69.

Alaska Air Group Stock Performance

ALK opened at $52.60 on Friday. The firm has a fifty day moving average price of $47.44 and a 200 day moving average price of $41.95. 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 1 year low of $32.00 and a 1 year high of $54.14. The stock has a market cap of $6.68 billion, a P/E ratio of 21.21, a P/E/G ratio of 1.20 and a beta of 1.59.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share 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 firm had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3 billion. During the same period last year, the company posted $1.83 EPS. Alaska Air Group’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities research analysts anticipate that Alaska Air Group, Inc. will post 4.26 earnings per share for the current year.

Alaska Air Group 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.