Zurcher Kantonalbank Zurich Cantonalbank Raises Position in Alaska Air Group, Inc. (NYSE:ALK)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 17.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,337 shares of the transportation company’s stock after acquiring an additional 1,254 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Alaska Air Group were worth $326,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. SG Americas Securities LLC increased its holdings in Alaska Air Group by 44.4% during the 3rd quarter. SG Americas Securities LLC now owns 15,945 shares of the transportation company’s stock worth $591,000 after purchasing an additional 4,906 shares during the period. Commonwealth Equity Services LLC raised its holdings in Alaska Air Group by 2.6% in the third quarter. Commonwealth Equity Services LLC now owns 62,337 shares of the transportation company’s stock valued at $2,311,000 after acquiring an additional 1,597 shares in the last quarter. Xponance Inc. lifted its stake in Alaska Air Group by 10.0% in the third quarter. Xponance Inc. now owns 21,138 shares of the transportation company’s stock worth $784,000 after acquiring an additional 1,918 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Alaska Air Group by 6.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 283,809 shares of the transportation company’s stock worth $10,524,000 after acquiring an additional 16,443 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Alaska Air Group by 6.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,213,630 shares of the transportation company’s stock valued at $45,001,000 after purchasing an additional 71,726 shares during the last quarter. 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 $42.68 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.63 and a debt-to-equity ratio of 0.85. The stock has a 50 day simple moving average of $40.83 and a 200-day simple moving average of $37.85. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 22.82, a price-to-earnings-growth ratio of 0.57 and a beta of 1.60. Alaska Air Group, Inc. has a 12-month low of $30.75 and a 12-month high of $57.18.

Alaska Air Group (NYSE:ALK) last released its earnings results on Thursday, April 18th. The transportation company reported ($0.92) EPS for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.17. Alaska Air Group had a return on equity of 13.54% and a net margin of 2.34%. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter last year, the company earned ($0.62) earnings per share. Alaska Air Group’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities analysts forecast that Alaska Air Group, Inc. will post 4.68 EPS for the current year.

Wall Street Analyst Weigh In

ALK has been the topic of several recent analyst reports. Melius lowered Alaska Air Group from a “buy” rating to a “hold” rating in a report on Monday, January 8th. UBS Group initiated coverage on Alaska Air Group in a report on Wednesday, March 20th. They issued a “buy” rating and a $54.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upgraded Alaska Air Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $44.00 to $51.00 in a research note on Tuesday, February 20th. StockNews.com upgraded shares of Alaska Air Group from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Finally, TD Cowen boosted their price objective on shares of Alaska Air Group from $49.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $57.85.

Insiders Place Their Bets

In related news, EVP Andrew R. Harrison sold 6,500 shares of Alaska Air Group stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $38.36, for a total transaction of $249,340.00. Following the completion of the transaction, the executive vice president now directly owns 26,048 shares of the company’s stock, valued at $999,201.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.68% of the stock is currently owned by company insiders.

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.