Geode Capital Management LLC Buys 78,186 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Geode Capital Management LLC grew its stake in Alaska Air Group, Inc. (NYSE:ALK) by 3.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,061,596 shares of the transportation company’s stock after acquiring an additional 78,186 shares during the quarter. Geode Capital Management LLC owned 1.62% of Alaska Air Group worth $93,229,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Altshuler Shaham Ltd acquired a new position in Alaska Air Group during the second quarter valued at approximately $28,000. Pacific Center for Financial Services acquired a new stake in Alaska Air Group in the third quarter worth $45,000. Venturi Wealth Management LLC boosted its position 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 purchasing an additional 474 shares in the last quarter. Pacifica Partners Inc. grew its holdings 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 valued at $50,000 after buying an additional 1,000 shares during the period. Finally, True Wealth Design LLC bought a new stake in shares of Alaska Air Group in the 3rd quarter valued at $52,000. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ALK shares. Melius upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a report on Monday, October 28th. The Goldman Sachs Group reiterated a “buy” rating and set a $70.00 price objective on shares of Alaska Air Group in a report on Friday, November 15th. UBS Group reaffirmed a “buy” rating and issued a $72.00 target price on shares of Alaska Air Group in a research note on Tuesday, November 26th. JPMorgan Chase & Co. increased their price objective on Alaska Air Group from $58.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Citigroup boosted their target price on Alaska Air Group from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.86.

Alaska Air Group Price Performance

NYSE:ALK opened at $64.97 on Friday. The stock has a market capitalization of $8.25 billion, a PE ratio of 26.20, a P/E/G ratio of 1.24 and a beta of 1.60. The firm has a fifty day simple moving average of $52.17 and a 200 day simple moving average of $43.62. Alaska Air Group, Inc. has a 1-year low of $32.62 and a 1-year high of $65.62. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 0.93.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.03. The business had revenue of $3.07 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.83 EPS. On average, research analysts expect that Alaska Air Group, Inc. will post 4.3 EPS for the current fiscal year.

Insider Activity

In other Alaska Air Group news, CFO Shane R. Tackett sold 5,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $63.56, for a total transaction of $317,800.00. Following the transaction, the chief financial officer now owns 27,362 shares in the company, valued at $1,739,128.72. This trade represents a 15.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Muehlen Constance E. Von sold 4,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $63.09, for a total transaction of $252,360.00. Following the sale, the chief operating officer now directly owns 12,162 shares of the company’s stock, valued at $767,300.58. This represents a 24.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,473 shares of company stock valued at $2,198,342. 0.68% of the stock is owned by company insiders.

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.