Brown Brothers Harriman & Co. Sells 744 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Brown Brothers Harriman & Co. cut its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 52.7% in the third quarter, HoldingsChannel reports. The fund owned 667 shares of the transportation company’s stock after selling 744 shares during the period. Brown Brothers Harriman & Co.’s holdings in Alaska Air Group were worth $30,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new position in shares of Alaska Air Group in the second quarter worth approximately $28,000. Venturi Wealth Management LLC raised its position in shares of Alaska Air Group by 86.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock valued at $46,000 after purchasing an additional 474 shares during the period. Pacifica Partners Inc. lifted its stake in shares of Alaska Air Group by 952.4% during 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 in the last quarter. Capital Performance Advisors LLP bought a new position in Alaska Air Group in the 3rd quarter worth $67,000. Finally, Canada Pension Plan Investment Board bought a new position in Alaska Air Group in the 2nd quarter worth $69,000. 81.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ALK shares. The Goldman Sachs Group reissued a “buy” rating and set a $70.00 price target on shares of Alaska Air Group in a report on Friday, November 15th. Susquehanna boosted their price target on Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. UBS Group restated a “buy” rating and issued a $72.00 price target on shares of Alaska Air Group in a research note on Tuesday. Bank of America lifted their price objective on shares of Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Finally, Citigroup lowered their target price on shares of Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $58.69.

Alaska Air Group Price Performance

Alaska Air Group stock opened at $52.68 on Friday. Alaska Air Group, Inc. has a 52-week low of $32.00 and a 52-week high of $54.14. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.93. The firm’s fifty day moving average is $47.18 and its 200 day moving average is $41.88. The company has a market cap of $6.69 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 1.21 and a beta of 1.59.

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 the consensus estimate of $2.22 by $0.03. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The firm had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same period in the prior year, the company earned $1.83 EPS. The business’s revenue was up 8.2% compared to the same quarter last year. Sell-side analysts forecast that Alaska Air Group, Inc. will post 4.26 EPS for the current fiscal year.

Alaska Air Group Company 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.