Plan Group Financial LLC Makes New Investment in Alaska Air Group, Inc. (NYSE:ALK)

Plan Group Financial LLC purchased a new position in Alaska Air Group, Inc. (NYSE:ALK) during the third quarter, HoldingsChannel.com reports. The fund purchased 7,879 shares of the transportation company’s stock, valued at approximately $356,000.

A number of other large investors have also added to or reduced their stakes in ALK. Altshuler Shaham Ltd bought a new stake in Alaska Air Group in the 2nd quarter worth $28,000. Pacifica Partners Inc. lifted its position in shares of Alaska Air Group by 952.4% in the 3rd quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock worth $50,000 after purchasing an additional 1,000 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Alaska Air Group in the 2nd quarter worth about $69,000. Halpern Financial Inc. purchased a new stake in shares of Alaska Air Group in the 2nd quarter worth about $81,000. Finally, GAMMA Investing LLC lifted its position in shares of Alaska Air Group by 31.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,602 shares of the transportation company’s stock worth $105,000 after purchasing an additional 626 shares during the period. Institutional investors own 81.90% of the company’s stock.

Wall Street Analyst Weigh In

ALK has been the subject of several research analyst reports. Citigroup dropped their target price on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Bank of America raised their target price on shares of Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Susquehanna lifted their price target on shares of Alaska Air Group from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Morgan Stanley lowered their price target on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Finally, Barclays assumed coverage on shares of Alaska Air Group in a research report on Monday. They set an “overweight” rating and a $55.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.80.

Alaska Air Group Stock Performance

Shares of ALK stock opened at $45.98 on Wednesday. The company has a 50 day moving average price of $40.29 and a 200-day moving average price of $40.57. Alaska Air Group, Inc. has a 52 week low of $30.75 and a 52 week high of $46.87. The firm has a market capitalization of $5.83 billion, a PE ratio of 24.59, a P/E/G ratio of 0.66 and a beta of 1.60. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 0.55.

Alaska Air Group 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.