Oppenheimer & Co. Inc. Has $1.75 Million Stock Position in Alaska Air Group, Inc. (NYSE:ALK)

Oppenheimer & Co. Inc. lessened its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 7.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,690 shares of the transportation company’s stock after selling 3,250 shares during the period. Oppenheimer & Co. Inc.’s holdings in Alaska Air Group were worth $1,749,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ALK. Verdence Capital Advisors LLC boosted its holdings in 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 last quarter. QRG Capital Management Inc. boosted its stake in shares of Alaska Air Group by 2.7% in the 3rd quarter. QRG Capital Management Inc. now owns 9,271 shares of the transportation company’s stock worth $419,000 after buying an additional 242 shares during the last quarter. First Trust Direct Indexing L.P. grew its holdings in shares of Alaska Air Group by 4.7% in the third 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 position in shares of Alaska Air Group by 3.7% during the third quarter. Concurrent Investment Advisors LLC now owns 8,770 shares of the transportation company’s stock valued at $397,000 after acquiring an additional 309 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of 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 acquiring an additional 439 shares during the last quarter. Institutional investors own 81.90% of the company’s stock.

Alaska Air Group Price Performance

Alaska Air Group stock opened at $53.96 on Monday. The firm has a market capitalization of $6.85 billion, a P/E ratio of 21.76, a PEG ratio of 1.22 and a beta of 1.59. Alaska Air Group, Inc. has a one year low of $32.00 and a one year high of $54.01. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57. The business has a fifty day moving average price of $45.18 and a 200-day moving average price of $41.33.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.22 by $0.03. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The business had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3 billion. During the same quarter last year, the company earned $1.83 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts forecast that Alaska Air Group, Inc. will post 4.26 EPS for the current year.

Wall Street Analysts Forecast Growth

ALK has been the subject of a number of recent analyst reports. Barclays upped their price objective on Alaska Air Group from $55.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday. Evercore ISI decreased 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 report on Thursday, October 3rd. Melius raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Monday, October 28th. Citigroup reduced their target price on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Finally, Bank of America lifted their price target on shares of Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.31.

About Alaska Air Group

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.