Alpha Paradigm Partners LLC Sells 8,457 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Alpha Paradigm Partners LLC cut its position in Alaska Air Group, Inc. (NYSE:ALK) by 64.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,683 shares of the transportation company’s stock after selling 8,457 shares during the quarter. Alpha Paradigm Partners LLC’s holdings in Alaska Air Group were worth $282,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ALK. Teacher Retirement System of Texas acquired a new position in Alaska Air Group in the 1st quarter valued at $238,000. Mercer Global Advisors Inc. ADV grew its stake in Alaska Air Group by 4.5% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 13,516 shares of the transportation company’s stock valued at $935,000 after buying an additional 584 shares during the last quarter. UBS Group AG grew its stake in Alaska Air Group by 1.5% in the 1st quarter. UBS Group AG now owns 231,484 shares of the transportation company’s stock valued at $16,021,000 after buying an additional 3,404 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Alaska Air Group by 633.5% in the 1st quarter. JPMorgan Chase & Co. now owns 1,452,057 shares of the transportation company’s stock valued at $100,496,000 after buying an additional 1,254,099 shares during the last quarter. Finally, Essex Investment Management Co. LLC acquired a new position in Alaska Air Group in the 1st quarter valued at $640,000. Institutional investors and hedge funds own 75.03% of the company’s stock.

In related news, Chairman Bradley D. Tilden sold 4,875 shares of Alaska Air Group stock in a transaction dated Monday, August 2nd. The shares were sold at an average price of $58.72, for a total transaction of $286,260.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 14,665 shares of company stock valued at $863,007 over the last three months. 0.73% of the stock is currently owned by insiders.

A number of research firms recently issued reports on ALK. Wolfe Research upgraded shares of Alaska Air Group from a “peer perform” rating to an “outperform” rating in a research note on Friday, June 18th. JPMorgan Chase & Co. raised their price target on shares of Alaska Air Group from $94.00 to $97.00 and gave the stock an “overweight” rating in a research report on Friday, October 1st. Morgan Stanley decreased their price target on shares of Alaska Air Group from $89.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 14th. Finally, Raymond James decreased their target price on shares of Alaska Air Group from $85.00 to $78.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, July 20th. One research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alaska Air Group presently has a consensus rating of “Buy” and an average price target of $77.00.

Shares of Alaska Air Group stock opened at $57.04 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.97 and a current ratio of 0.98. The firm’s 50-day simple moving average is $57.92 and its 200-day simple moving average is $62.54. Alaska Air Group, Inc. has a twelve month low of $35.06 and a twelve month high of $74.25. The firm has a market cap of $7.14 billion, a P/E ratio of -11.74 and a beta of 1.76.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results on Wednesday, July 21st. The transportation company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.14. Alaska Air Group had a negative net margin of 15.52% and a negative return on equity of 37.62%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the firm posted ($3.54) EPS. The firm’s quarterly revenue was up 262.7% on a year-over-year basis. On average, equities analysts forecast that Alaska Air Group, Inc. will post -1.43 earnings per share for the current fiscal year.

Alaska Air Group Profile

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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