Alaska Air Group, Inc. (NYSE:ALK) Sees Significant Growth in Short Interest

Alaska Air Group, Inc. (NYSE:ALK) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 9,760,000 shares, a growth of 6.6% from the November 30th total of 9,160,000 shares. Based on an average trading volume of 2,520,000 shares, the days-to-cover ratio is currently 3.9 days.

Alaska Air Group Trading Down 0.2 %

Shares of NYSE:ALK traded down $0.12 during trading on Wednesday, reaching $64.75. The stock had a trading volume of 1,444,041 shares, compared to its average volume of 2,330,771. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.93. The stock has a market cap of $8.22 billion, a P/E ratio of 26.11, a PEG ratio of 1.24 and a beta of 1.60. The business has a fifty day moving average price of $55.52 and a 200-day moving average price of $45.08. Alaska Air Group has a fifty-two week low of $32.62 and a fifty-two week high of $67.73.

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 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 company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3 billion. During the same period in the previous year, the firm posted $1.83 EPS. Alaska Air Group’s revenue was up 8.2% on a year-over-year basis. As a group, analysts anticipate that Alaska Air Group will post 4.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Alaska Air Group

In other news, COO Muehlen Constance E. Von sold 4,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $63.09, for a total transaction of $252,360.00. Following the transaction, the chief operating officer now directly owns 12,162 shares in the company, valued at $767,300.58. The trade was a 24.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Andrea L. Schneider sold 800 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $63.89, for a total value of $51,112.00. Following the transaction, the senior vice president now owns 20,286 shares in the company, valued at $1,296,072.54. The trade was a 3.79 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,473 shares of company stock worth $2,198,342. 0.68% of the stock is currently owned by insiders.

Institutional Trading of Alaska Air Group

A number of hedge funds have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd purchased a new position in shares of Alaska Air Group during the 2nd quarter worth about $28,000. Pacific Center for Financial Services purchased a new position in Alaska Air Group during the third quarter worth approximately $45,000. Venturi Wealth Management LLC boosted its holdings in shares of Alaska Air Group by 86.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock valued at $46,000 after purchasing an additional 474 shares during the last quarter. Pacifica Partners Inc. grew its stake in shares of Alaska Air Group by 952.4% during the 3rd quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock valued at $50,000 after buying an additional 1,000 shares during the period. Finally, True Wealth Design LLC acquired a new stake in shares of Alaska Air Group during the 3rd quarter worth $52,000. 81.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ALK. JPMorgan Chase & Co. upped their price target on shares of Alaska Air Group from $58.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Barclays increased their target price on shares of Alaska Air Group from $55.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Melius Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Monday, October 28th. Citigroup raised their price objective on Alaska Air Group from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, Morgan Stanley boosted their target price on Alaska Air Group from $70.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Alaska Air Group currently has an average rating of “Moderate Buy” and an average price target of $65.86.

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.