VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Alaska Air Group, Inc. $ALK

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Alaska Air Group, Inc. (NYSE:ALK) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 19,800 shares of the transportation company’s stock, valued at approximately $766,000.

A number of other institutional investors have also bought and sold shares of ALK. Parcion Private Wealth LLC increased its holdings in shares of Alaska Air Group by 16.2% during the 3rd quarter. Parcion Private Wealth LLC now owns 6,418 shares of the transportation company’s stock worth $248,000 after buying an additional 896 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its position in Alaska Air Group by 82.9% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 4,250 shares of the transportation company’s stock valued at $164,000 after buying an additional 1,926 shares during the last quarter. Maxi Investments CY Ltd purchased a new position in Alaska Air Group during the third quarter worth about $1,200,000. Signaturefd LLC raised its stake in shares of Alaska Air Group by 35.7% in the 3rd quarter. Signaturefd LLC now owns 3,702 shares of the transportation company’s stock valued at $143,000 after acquiring an additional 974 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in shares of Alaska Air Group by 214.4% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 12,400 shares of the transportation company’s stock worth $480,000 after acquiring an additional 8,456 shares during the last quarter. 81.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alaska Air Group

In related news, CEO Benito Minicucci purchased 25,000 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were 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 of the company’s stock, valued at approximately $10,278,674.92. The trade was a 10.80% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Alaska Air Group Stock Performance

Shares of ALK opened at $38.68 on Friday. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of -11.02 and a beta of 1.43. Alaska Air Group, Inc. has a 52-week low of $32.33 and a 52-week high of $60.63. The company has a quick ratio of 0.42, a current ratio of 0.46 and a debt-to-equity ratio of 1.49. The stock has a 50 day moving average price of $38.83 and a 200 day moving average price of $43.92.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results on Tuesday, October 20th. The transportation company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The company had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.31 billion. Alaska Air Group had a negative net margin of 2.58% and a negative return on equity of 5.42%. Alaska Air Group’s revenue was up 14.4% on a year-over-year basis. During the same period last year, the firm earned $1.05 earnings per share. Research analysts predict that Alaska Air Group, Inc. will post -4.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ALK. Barclays set a $52.00 target price on Alaska Air Group and gave the company an “overweight” rating in a research report on Friday, September 11th. Weiss Ratings cut Alaska Air Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 18th. BMO Capital Markets reissued an “outperform” rating and set a $42.00 price target (down from $50.00) on shares of Alaska Air Group in a research report on Thursday, October 22nd. Raymond James Financial reaffirmed an “outperform” rating on shares of Alaska Air Group in a research note on Friday, September 25th. Finally, Zacks Research cut shares of Alaska Air Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 21st. Ten analysts have rated the stock with a Buy rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.38.

Alaska Air Group Company Profile

Alaska Air Group, Inc is an airline holding company headquartered in Seattle, Washington. Its principal subsidiaries include Alaska Airlines and Hawaiian Airlines, which operate under separate brands while serving passengers throughout North America, the Pacific and other international markets.

Alaska Airlines provides scheduled passenger and air cargo services across the United States, Canada, Mexico, Costa Rica and the Bahamas, with a strong presence on the U.S. West Coast and in Alaska.