Franklin Resources Inc. Acquires 24,796 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Franklin Resources Inc. boosted its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 4.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 633,514 shares of the transportation company’s stock after buying an additional 24,796 shares during the quarter. Franklin Resources Inc.’s holdings in Alaska Air Group were worth $28,312,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new position in Alaska Air Group in the second quarter valued at about $28,000. Pacific Center for Financial Services purchased a new position in Alaska Air Group in the third quarter valued at approximately $45,000. Venturi Wealth Management LLC grew its holdings in 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 valued at $46,000 after purchasing an additional 474 shares during the period. Pacifica Partners Inc. increased its position in Alaska Air Group by 952.4% in the third quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock worth $50,000 after buying an additional 1,000 shares during the last quarter. Finally, True Wealth Design LLC bought a new stake in shares of Alaska Air Group in the third quarter valued at $52,000. Hedge funds and other institutional investors own 81.90% of the company’s stock.

Alaska Air Group Trading Down 1.2 %

Shares of ALK opened at $62.44 on Thursday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60. Alaska Air Group, Inc. has a fifty-two week low of $32.62 and a fifty-two week high of $65.62. The firm has a 50 day moving average price of $51.73 and a 200-day moving average price of $43.47. The firm has a market cap of $7.93 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 1.24 and a beta of 1.60.

Alaska Air Group (NYSE:ALK) last posted its quarterly 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. The business had revenue of $3.07 billion during 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%. The company’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.83 earnings per share. As a group, equities research analysts forecast that Alaska Air Group, Inc. will post 4.3 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on ALK. Melius upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Monday, October 28th. Morgan Stanley increased their price target on shares of Alaska Air Group from $70.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Melius Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Monday, October 28th. Susquehanna upped their price objective on shares of Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, 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. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Alaska Air Group currently has a consensus rating of “Moderate Buy” and an average target price of $65.86.

Insider Buying and Selling

In related news, EVP Andrew R. Harrison sold 13,880 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $64.01, for a total value of $888,458.80. Following the sale, the executive vice president now directly owns 20,638 shares of the company’s stock, valued at $1,321,038.38. This trade represents a 40.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kyle B. Levine sold 3,439 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $63.50, for a total value of $218,376.50. Following the transaction, the senior vice president now directly owns 19,479 shares of the company’s stock, valued at $1,236,916.50. The trade was a 15.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,019 shares of company stock worth $1,911,945 in the last ninety days. 0.68% of the stock is owned by insiders.

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.