Edgestream Partners L.P. Purchases New Holdings in Alaska Air Group, Inc. (NYSE:ALK)

Edgestream Partners L.P. bought a new stake in shares of Alaska Air Group, Inc. (NYSE:ALK) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,766 shares of the transportation company’s stock, valued at approximately $487,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Altshuler Shaham Ltd purchased a new stake in shares of Alaska Air Group during the second quarter worth approximately $28,000. Venturi Wealth Management LLC grew its holdings in shares of Alaska Air Group by 86.0% during the third quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock worth $46,000 after buying an additional 474 shares in the last quarter. Pacifica Partners Inc. raised its position in shares of Alaska Air Group by 952.4% in the third quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock valued at $50,000 after buying an additional 1,000 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Alaska Air Group in the third quarter worth about $67,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Alaska Air Group during the 2nd quarter valued at about $69,000. Hedge funds and other institutional investors own 81.90% of the company’s stock.

Wall Street Analysts Forecast Growth

ALK has been the topic of a number of research reports. Bank of America boosted their target price on Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Susquehanna boosted their price objective on Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Evercore ISI cut their target price on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. TD Cowen lifted their price target on Alaska Air Group from $50.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, UBS Group reissued a “buy” rating and issued a $72.00 price objective on shares of Alaska Air Group in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Alaska Air Group presently has an average rating of “Moderate Buy” and an average target price of $60.08.

Alaska Air Group Price Performance

Alaska Air Group stock opened at $55.88 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60. The company has a market capitalization of $7.09 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 1.19 and a beta of 1.60. The company’s 50 day simple moving average is $48.38 and its 200-day simple moving average is $42.21. Alaska Air Group, Inc. has a 1 year low of $32.62 and a 1 year high of $56.95.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.03. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3 billion. During the same quarter in the previous year, the company earned $1.83 earnings per share. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts expect that Alaska Air Group, Inc. will post 4.26 earnings per share for the current year.

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.