Amalgamated Bank Lowers Stock Position in Alaska Air Group, Inc. (NYSE:ALK)

Amalgamated Bank decreased its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 0.4% in the 4th quarter, HoldingsChannel reports. The fund owned 39,322 shares of the transportation company’s stock after selling 160 shares during the quarter. Amalgamated Bank’s holdings in Alaska Air Group were worth $2,546,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Avior Wealth Management LLC grew its stake in shares of Alaska Air Group by 44.8% during the 4th quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock worth $38,000 after purchasing an additional 182 shares during the period. Pacific Center for Financial Services purchased a new position in Alaska Air Group in the third quarter valued at about $45,000. Venturi Wealth Management LLC lifted 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 acquiring an additional 474 shares during the period. True Wealth Design LLC purchased a new stake in shares of Alaska Air Group during the 3rd quarter worth approximately $52,000. Finally, Quarry LP boosted its stake in shares of Alaska Air Group by 259.3% during the 3rd quarter. Quarry LP now owns 1,175 shares of the transportation company’s stock worth $53,000 after acquiring an additional 848 shares in the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ALK. Susquehanna raised Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 price objective for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. lifted their price target on Alaska Air Group from $58.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Barclays raised their target price on shares of Alaska Air Group from $55.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Citigroup raised their price objective on shares of Alaska Air Group from $63.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, TD Cowen increased their target price on Alaska Air Group from $85.00 to $110.00 and gave the company a “buy” rating in a report on Friday, January 24th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $76.69.

Insider Activity

In related news, SVP Andrea L. Schneider sold 800 shares of the stock in a transaction on Thursday, December 19th. The stock was 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 directly owns 20,286 shares in the company, valued at approximately $1,296,072.54. This represents a 3.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Emily Halverson sold 1,329 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $64.41, for a total value of $85,600.89. Following the transaction, the vice president now owns 7,150 shares in the company, valued at approximately $460,531.50. This represents a 15.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 189,198 shares of company stock valued at $13,415,604 in the last three months. Corporate insiders own 0.68% of the company’s stock.

Alaska Air Group Trading Up 1.7 %

Shares of ALK stock opened at $72.25 on Friday. The firm’s 50-day simple moving average is $70.04 and its 200-day simple moving average is $54.74. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.58. Alaska Air Group, Inc. has a 1-year low of $32.62 and a 1-year high of $78.08. The firm has a market cap of $8.89 billion, a P/E ratio of 23.69, a PEG ratio of 0.43 and a beta of 1.55.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share 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%. As a group, equities analysts forecast that Alaska Air Group, Inc. will post 6.03 EPS for the current year.

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.