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

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

Other large investors have also added to or reduced their stakes in the company. FMR LLC boosted its stake in Alaska Air Group by 32.4% in the 3rd quarter. FMR LLC now owns 1,084,639 shares of the transportation company’s stock worth $49,037,000 after purchasing an additional 265,343 shares during the period. Bank of Montreal Can boosted its stake in Alaska Air Group by 54.7% in the 3rd quarter. Bank of Montreal Can now owns 57,577 shares of the transportation company’s stock worth $2,591,000 after purchasing an additional 20,347 shares during the period. Friedenthal Financial purchased a new stake in shares of Alaska Air Group in the 4th quarter valued at about $772,000. Quantbot Technologies LP raised its holdings in shares of Alaska Air Group by 156.3% in the 3rd quarter. Quantbot Technologies LP now owns 83,777 shares of the transportation company’s stock valued at $3,788,000 after acquiring an additional 51,096 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Alaska Air Group by 4.1% in the 3rd quarter. Franklin Resources Inc. now owns 633,514 shares of the transportation company’s stock valued at $28,312,000 after acquiring an additional 24,796 shares in the last quarter. Institutional investors own 81.90% of the company’s stock.

Wall Street Analysts Forecast Growth

ALK has been the topic of several recent analyst reports. TD Cowen raised their price target on Alaska Air Group from $85.00 to $110.00 and gave the company a “buy” rating in a report on Friday, January 24th. Susquehanna raised Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 price objective on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. raised their price objective on Alaska Air Group from $85.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, March 3rd. UBS Group decreased their price objective on 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 raised their price objective on Alaska Air Group from $70.00 to $79.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $77.00.

Alaska Air Group Price Performance

Shares of ALK opened at $52.80 on Friday. The firm has a fifty day simple moving average of $67.77 and a two-hundred day simple moving average of $56.77. The firm has a market cap of $6.50 billion, a PE ratio of 17.31, a P/E/G ratio of 0.43 and a beta of 1.50. 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, Inc. has a 1-year low of $32.62 and a 1-year high of $78.08.

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

Insider Activity at Alaska Air Group

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