Harvest Fund Management Co. Ltd Buys New Shares in Alaska Air Group, Inc. (NYSE:ALK)

Harvest Fund Management Co. Ltd purchased a new position in Alaska Air Group, Inc. (NYSE:ALK) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,743 shares of the transportation company’s stock, valued at approximately $890,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Boston Partners grew its stake in Alaska Air Group by 6.9% during the fourth quarter. Boston Partners now owns 3,460,959 shares of the transportation company’s stock valued at $224,121,000 after acquiring an additional 222,780 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Alaska Air Group by 3.9% during the third quarter. Geode Capital Management LLC now owns 2,061,596 shares of the transportation company’s stock valued at $93,229,000 after purchasing an additional 78,186 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Alaska Air Group by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,593,756 shares of the transportation company’s stock worth $72,054,000 after purchasing an additional 6,977 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Alaska Air Group by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,432,052 shares of the transportation company’s stock worth $92,725,000 after buying an additional 9,805 shares in the last quarter. Finally, Hennessy Advisors Inc. bought a new position in Alaska Air Group during the fourth quarter valued at approximately $82,459,000. 81.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alaska Air Group

In other Alaska Air Group news, EVP Andrew R. Harrison sold 91,745 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $71.14, for a total value of $6,526,739.30. Following the completion of the sale, the executive vice president now directly owns 20,638 shares of the company’s stock, valued at $1,468,187.32. The trade was a 81.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph A. Sprague sold 9,500 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $68.90, for a total transaction of $654,550.00. Following the completion of the sale, the chief executive officer now directly owns 9,840 shares of the company’s stock, valued at approximately $677,976. This trade represents a 49.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 154,725 shares of company stock valued at $11,217,263 in the last three months. Company insiders own 0.68% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. TD Cowen upped their price objective on Alaska Air Group from $85.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Susquehanna raised shares of Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 price target on the stock in a research note on Tuesday, January 7th. Morgan Stanley increased their price objective on shares of Alaska Air Group from $70.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. UBS Group reduced their target price on shares of Alaska Air Group from $87.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday. Finally, The Goldman Sachs Group increased their price target on shares of Alaska Air Group from $70.00 to $79.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.00.

Alaska Air Group Stock Performance

Shares of NYSE:ALK opened at $52.80 on Friday. The company has a market capitalization of $6.50 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 0.43 and a beta of 1.50. Alaska Air Group, Inc. has a 12 month low of $32.62 and a 12 month high of $78.08. The firm’s 50-day moving average is $67.77 and its 200 day moving average is $56.77. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Wednesday, January 22nd. The transportation company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.45 by $0.52. Alaska Air Group had a net margin of 3.37% and a return on equity of 14.66%. Research analysts predict that Alaska Air Group, Inc. will post 6.03 EPS for the current year.

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.