Alaska Air Group (NYSE:ALK) Shares Down 5.3% – Here’s Why

Alaska Air Group, Inc. (NYSE:ALK)’s stock price traded down 5.3% during trading on Tuesday . The company traded as low as $64.82 and last traded at $66.22. 2,600,087 shares were traded during trading, a decline of 4% from the average session volume of 2,709,709 shares. The stock had previously closed at $69.90.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ALK. Citigroup raised their price target on shares of Alaska Air Group from $63.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, December 16th. TD Cowen upped their price target on Alaska Air Group from $85.00 to $110.00 and gave the company a “buy” rating in a report on Friday, January 24th. The Goldman Sachs Group raised their target price on shares of Alaska Air Group from $70.00 to $79.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Morgan Stanley boosted their target price on shares of Alaska Air Group from $70.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Finally, Barclays raised their price target on Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $77.00.

Alaska Air Group Trading Down 6.9 %

The stock has a 50 day moving average of $70.04 and a 200-day moving average of $55.33. The company has a market capitalization of $8.01 billion, a P/E ratio of 21.33, a P/E/G ratio of 0.43 and a beta of 1.55. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share for the quarter, topping 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, research analysts predict that Alaska Air Group, Inc. will post 6.03 EPS for the current year.

Insider Activity

In related news, CEO Joseph A. Sprague sold 2,325 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $64.38, for a total value of $149,683.50. Following the transaction, the chief executive officer now directly owns 19,340 shares of the company’s stock, valued at approximately $1,245,109.20. The trade was a 10.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Shane R. Tackett sold 5,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $63.56, for a total transaction of $317,800.00. Following the sale, the chief financial officer now directly owns 27,362 shares of the company’s stock, valued at approximately $1,739,128.72. This trade represents a 15.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 189,198 shares of company stock worth $13,415,604 over the last ninety days. Corporate insiders own 0.68% of the company’s stock.

Institutional Trading of Alaska Air Group

Several hedge funds have recently bought and sold shares of ALK. Avior Wealth Management LLC boosted its stake in Alaska Air Group by 44.8% during 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 position in shares of Alaska Air Group in the third quarter valued at $45,000. Venturi Wealth Management LLC increased its position in Alaska Air Group by 86.0% in 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 during the last quarter. True Wealth Design LLC purchased a new stake in Alaska Air Group during the third quarter valued at $52,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Alaska Air Group during the fourth quarter valued at $52,000. Hedge funds and other institutional investors own 81.90% of the company’s stock.

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.