Handelsbanken Fonder AB Acquires 6,100 Shares of Alaska Air Group, Inc. $ALK

Handelsbanken Fonder AB lifted its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 26.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 28,800 shares of the transportation company’s stock after purchasing an additional 6,100 shares during the period. Handelsbanken Fonder AB’s holdings in Alaska Air Group were worth $1,425,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALK. Brooklyn Investment Group increased its position in Alaska Air Group by 41.1% in the 1st quarter. Brooklyn Investment Group now owns 632 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 184 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of Alaska Air Group by 85.3% in the second quarter. SBI Securities Co. Ltd. now owns 1,308 shares of the transportation company’s stock valued at $65,000 after purchasing an additional 602 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Alaska Air Group by 2,162.3% in the second quarter. Assetmark Inc. now owns 1,380 shares of the transportation company’s stock valued at $68,000 after purchasing an additional 1,319 shares in the last quarter. Headlands Technologies LLC bought a new position in Alaska Air Group in the 1st quarter worth approximately $71,000. Finally, State of Wyoming acquired a new position in Alaska Air Group during the 1st quarter worth $92,000. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Alaska Air Group Stock Performance

Shares of ALK stock opened at $42.55 on Friday. The stock has a market cap of $4.94 billion, a PE ratio of 34.32, a price-to-earnings-growth ratio of 0.80 and a beta of 1.41. The stock has a 50-day moving average of $45.60 and a 200-day moving average of $51.04. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.52 and a quick ratio of 0.49. Alaska Air Group, Inc. has a one year low of $37.63 and a one year high of $78.08.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings data on Thursday, October 23rd. The transportation company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.06). Alaska Air Group had a return on equity of 8.93% and a net margin of 1.06%.The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the previous year, the business earned $2.25 EPS. The firm’s revenue was up 22.6% compared to the same quarter last year. As a group, sell-side analysts expect that Alaska Air Group, Inc. will post 6.03 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ALK shares. Cantor Fitzgerald set a $65.00 target price on Alaska Air Group in a research report on Monday, November 3rd. Zacks Research cut Alaska Air Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 8th. TD Cowen raised their target price on shares of Alaska Air Group from $61.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. UBS Group lowered their price target on shares of Alaska Air Group from $90.00 to $83.00 and set a “buy” rating for the company in a research report on Monday, October 27th. Finally, Susquehanna set a $58.00 price objective on shares of Alaska Air Group and gave the company a “positive” rating in a report on Friday, October 3rd. Twelve analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $73.08.

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.