Insider Selling: Alaska Air Group, Inc. (NYSE:ALK) EVP Sells 6,600 Shares of Stock

Alaska Air Group, Inc. (NYSE:ALK) EVP Andrew R. Harrison sold 6,600 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $76.28, for a total transaction of $503,448.00. Following the completion of the transaction, the executive vice president now owns 34,030 shares of the company’s stock, valued at $2,595,808.40. This represents a 16.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Alaska Air Group Trading Up 3.1 %

ALK stock traded up $2.18 during midday trading on Monday, hitting $72.36. 3,481,557 shares of the company’s stock were exchanged, compared to its average volume of 2,795,930. Alaska Air Group, Inc. has a 1-year low of $32.62 and a 1-year high of $78.08. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04. The business has a 50-day simple moving average of $69.26 and a two-hundred day simple moving average of $53.57. The stock has a market capitalization of $8.91 billion, a PE ratio of 23.73, a P/E/G ratio of 0.68 and a beta of 1.55.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Avior Wealth Management LLC increased its holdings in Alaska Air Group by 44.8% in the fourth quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock valued at $38,000 after buying an additional 182 shares during the last quarter. Pacific Center for Financial Services purchased a new stake in Alaska Air Group in the third quarter valued at approximately $45,000. Venturi Wealth Management LLC boosted its stake in Alaska Air Group by 86.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock worth $46,000 after purchasing an additional 474 shares during the period. True Wealth Design LLC purchased a new position in shares of Alaska Air Group during the third quarter worth about $52,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Alaska Air Group during the 4th quarter worth approximately $52,000. Hedge funds and other institutional investors own 81.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ALK shares. Susquehanna upgraded 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. JPMorgan Chase & Co. upped their price target on shares of Alaska Air Group from $58.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. TD Cowen lifted their price objective on shares of Alaska Air Group from $85.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Melius Research raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Monday, October 28th. Finally, Morgan Stanley lifted their price target 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. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $76.69.

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.