Alaska Air Group, Inc. (NYSE:ALK) Shares Purchased by Entropy Technologies LP

Entropy Technologies LP increased its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 358.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,428 shares of the transportation company’s stock after acquiring an additional 21,451 shares during the period. Entropy Technologies LP’s holdings in Alaska Air Group were worth $1,240,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ALK. Verdence Capital Advisors LLC boosted its position in Alaska Air Group by 2.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 10,180 shares of the transportation company’s stock valued at $460,000 after buying an additional 215 shares during the period. QRG Capital Management Inc. lifted its stake in Alaska Air Group by 2.7% during the third quarter. QRG Capital Management Inc. now owns 9,271 shares of the transportation company’s stock worth $419,000 after purchasing an additional 242 shares during the last quarter. First Trust Direct Indexing L.P. lifted its position in shares of Alaska Air Group by 4.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,938 shares of the transportation company’s stock worth $268,000 after buying an additional 267 shares during the last quarter. Concurrent Investment Advisors LLC boosted its stake in Alaska Air Group by 3.7% in the third quarter. Concurrent Investment Advisors LLC now owns 8,770 shares of the transportation company’s stock valued at $397,000 after acquiring an additional 309 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its position in shares of Alaska Air Group by 4.0% in the 1st quarter. William Blair Investment Management LLC now owns 11,470 shares of the transportation company’s stock valued at $493,000 after purchasing an additional 436 shares during the period. Hedge funds and other institutional investors own 81.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Morgan Stanley dropped their price target on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Barclays assumed coverage on shares of Alaska Air Group in a research report on Monday, October 21st. They set an “overweight” rating and a $55.00 target price on the stock. Melius Research upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a report on Monday, October 28th. Susquehanna upped their target price on shares of Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, Bank of America upped their price target on Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.17.

Alaska Air Group Price Performance

ALK stock opened at $51.68 on Thursday. The stock’s 50 day moving average is $44.55 and its two-hundred day moving average is $41.20. Alaska Air Group, Inc. has a 52-week low of $32.00 and a 52-week high of $52.70. The company has a market capitalization of $6.56 billion, a PE ratio of 20.84, a P/E/G ratio of 1.16 and a beta of 1.59. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.93.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03. The firm had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3 billion. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. Alaska Air Group’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company posted $1.83 earnings per share. Analysts predict that Alaska Air Group, Inc. will post 4.26 earnings per share for the current fiscal 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.