Alaska Air Group, Inc. (NYSE:ALK) Shares Sold by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. lowered its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 15.0% during the fourth quarter, HoldingsChannel reports. The fund owned 644,701 shares of the transportation company’s stock after selling 113,946 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Alaska Air Group were worth $41,744,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ALK. Oregon Public Employees Retirement Fund increased its stake in Alaska Air Group by 0.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 29,816 shares of the transportation company’s stock valued at $1,931,000 after purchasing an additional 160 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in shares of Alaska Air Group by 44.8% in the 4th quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock valued at $38,000 after buying an additional 182 shares in the last quarter. Savant Capital LLC grew its position in shares of Alaska Air Group by 3.4% in the 4th quarter. Savant Capital LLC now owns 6,284 shares of the transportation company’s stock valued at $407,000 after buying an additional 206 shares during the last quarter. Mutual of America Capital Management LLC grew its position in shares of Alaska Air Group by 1.3% in the 4th quarter. Mutual of America Capital Management LLC now owns 19,229 shares of the transportation company’s stock valued at $1,245,000 after buying an additional 254 shares during the last quarter. Finally, Plan Group Financial LLC raised its stake in Alaska Air Group by 3.3% during the 4th quarter. Plan Group Financial LLC now owns 8,136 shares of the transportation company’s stock worth $527,000 after acquiring an additional 257 shares in the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ALK. Bank of America upped their price objective on shares of Alaska Air Group from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Barclays upped their target price on Alaska Air Group from $55.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. TD Cowen lifted their price target on Alaska Air Group from $85.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. UBS Group raised their target price on shares of Alaska Air Group from $81.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Finally, Morgan Stanley lifted their target price on shares of Alaska Air Group from $70.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Alaska Air Group has an average rating of “Moderate Buy” and an average target price of $77.00.

Insiders Place Their Bets

In related news, EVP Andrew R. Harrison sold 6,600 shares of Alaska Air Group stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $76.28, for a total value of $503,448.00. Following the sale, the executive vice president now directly owns 34,030 shares in the company, valued at $2,595,808.40. The trade was a 16.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kyle B. Levine sold 3,439 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $63.50, for a total value of $218,376.50. Following the completion of the transaction, the senior vice president now 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. In the last 90 days, insiders have sold 162,618 shares of company stock worth $11,722,035. Company insiders own 0.68% of the company’s stock.

Alaska Air Group Stock Down 1.5 %

Shares of Alaska Air Group stock opened at $52.52 on Friday. Alaska Air Group, Inc. has a one year low of $32.62 and a one year high of $78.08. The company has a market cap of $6.46 billion, a P/E ratio of 17.22, a PEG ratio of 0.43 and a beta of 1.50. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.61. The firm has a fifty day moving average of $69.17 and a two-hundred day moving average of $56.18.

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

About Alaska Air Group

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.