Primecap Management Co. CA Trims Holdings in Alaska Air Group, Inc. (NYSE:ALK)

Primecap Management Co. CA reduced its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,821,450 shares of the transportation company’s stock after selling 30,897 shares during the quarter. Primecap Management Co. CA owned about 3.01% of Alaska Air Group worth $247,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of Alaska Air Group by 3.9% during the third quarter. Geode Capital Management LLC now owns 2,061,596 shares of the transportation company’s stock valued at $93,229,000 after buying an additional 78,186 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Alaska Air Group by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,593,756 shares of the transportation company’s stock valued at $72,054,000 after buying an additional 6,977 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Alaska Air Group by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,432,052 shares of the transportation company’s stock valued at $92,725,000 after buying an additional 9,805 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Alaska Air Group during the fourth quarter valued at approximately $82,459,000. Finally, FMR LLC raised its position in shares of Alaska Air Group by 32.4% during the third quarter. FMR LLC now owns 1,084,639 shares of the transportation company’s stock valued at $49,037,000 after buying an additional 265,343 shares during the last quarter. Institutional investors own 81.90% of the company’s stock.

Alaska Air Group Stock Up 2.2 %

NYSE ALK opened at $55.12 on Tuesday. The firm has a market capitalization of $6.78 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 0.43 and a beta of 1.50. Alaska Air Group, Inc. has a 52 week low of $32.62 and a 52 week high of $78.08. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. The company has a fifty day moving average of $68.54 and a two-hundred day moving average of $56.71.

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

Analysts Set New Price Targets

ALK has been the topic of several recent analyst reports. UBS Group lifted their price objective on shares of Alaska Air Group from $81.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Susquehanna upgraded shares of Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 price target on the stock in a research report on Tuesday, January 7th. The Goldman Sachs Group boosted their price target on shares of Alaska Air Group from $70.00 to $79.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Morgan Stanley boosted their price target on shares of Alaska Air Group from $70.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, TD Cowen boosted their price target on shares of Alaska Air Group from $85.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.00.

Insider Activity

In related news, CFO Shane R. Tackett sold 22,893 shares of Alaska Air Group stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $75.74, for a total value of $1,733,915.82. Following the completion of the sale, the chief financial officer now directly owns 31,873 shares in the company, valued at $2,414,061.02. The trade was a 41.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Andrea L. Schneider sold 800 shares of Alaska Air Group stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $63.89, for a total value of $51,112.00. Following the completion of the sale, the senior vice president now owns 20,286 shares of the company’s stock, valued at $1,296,072.54. The trade was a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 159,179 shares of company stock valued at $11,503,659. 0.68% of the stock is currently owned by company insiders.

Alaska Air Group 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.