Primecap Management Co. CA Purchases Shares of 3,227,329 Alaska Air Group, Inc. $ALK

Primecap Management Co. CA bought a new position in shares of Alaska Air Group, Inc. (NYSE:ALK) in the 2nd quarter, Holdings Channel.com reports. The fund bought 3,227,329 shares of the transportation company’s stock, valued at approximately $168,467,000.

Other large investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. boosted its stake in shares of Alaska Air Group by 30.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 910 shares of the transportation company’s stock valued at $46,000 after buying an additional 212 shares during the period. Northwestern Mutual Investment Management Company LLC increased its stake in shares of Alaska Air Group by 1.0% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 25,951 shares of the transportation company’s stock worth $1,305,000 after buying an additional 249 shares during the period. Bradley Foster & Sargent Inc. CT raised its holdings in Alaska Air Group by 2.0% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 14,647 shares of the transportation company’s stock valued at $737,000 after acquiring an additional 281 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Alaska Air Group by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 23,499 shares of the transportation company’s stock valued at $864,000 after acquiring an additional 300 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in Alaska Air Group by 0.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 38,414 shares of the transportation company’s stock worth $1,932,000 after acquiring an additional 313 shares during the last quarter. Hedge funds and other institutional investors own 81.90% of the company’s stock.

Insider Buying and Selling

In other Alaska Air Group news, CEO Benito Minicucci purchased 25,000 shares of Alaska Air Group stock in a transaction that occurred on Thursday, August 20th. The stock was purchased at an average price of $40.06 per share, for a total transaction of $1,001,500.00. Following the transaction, the chief executive officer directly owned 256,582 shares in the company, valued at $10,278,674.92. This trade represents a 10.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Andrew R. Harrison sold 5,300 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $49.67, for a total transaction of $263,251.00. Following the sale, the executive vice president owned 25,528 shares of the company’s stock, valued at approximately $1,267,975.76. This represents a 17.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Barclays set a $65.00 price target on shares of Alaska Air Group and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Zacks Research raised shares of Alaska Air Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Cantor Fitzgerald set a $46.00 target price on shares of Alaska Air Group in a research note on Monday. TD Cowen reissued a “buy” rating and issued a $46.00 target price (down from $59.00) on shares of Alaska Air Group in a report on Monday. Finally, Bank of America raised their price target on Alaska Air Group from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.88.

Alaska Air Group Stock Up 4.4%

Shares of NYSE ALK opened at $43.37 on Wednesday. The stock has a market cap of $4.83 billion, a PE ratio of -27.63 and a beta of 1.29. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 1.58. Alaska Air Group, Inc. has a 52-week low of $33.03 and a 52-week high of $65.88. The business has a 50-day moving average price of $47.82 and a 200 day moving average price of $45.18.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Tuesday, July 21st. The transportation company reported ($0.92) EPS for the quarter, topping the consensus estimate of ($0.99) by $0.07. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.09 billion. Alaska Air Group had a negative return on equity of 3.11% and a negative net margin of 1.19%.The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 earnings per share. Alaska Air Group has set its Q3 2026 guidance at 0.000-1.000 EPS. Equities research analysts forecast that Alaska Air Group, Inc. will post -1.22 earnings per share for the current year.

Alaska Air Group Profile

Alaska Air Group is a publicly traded holding company headquartered in Seattle, Washington, that operates two main airlines—Alaska Airlines and Horizon Air. Through these carriers, the company offers scheduled passenger and cargo services across a network spanning the United States, Canada and Mexico. Its core business activities include domestic and international air transportation, loyalty program management under the Mileage Plan brand, and ancillary revenue streams such as baggage fees, in-flight sales and code-share partnerships with other global airlines.

The roots of Alaska Air Group trace back to the foundation of its flagship carrier, Alaska Airlines, in 1932.