Blue Trust Inc. Grows Position in Alaska Air Group, Inc. (NYSE:ALK)

Blue Trust Inc. lifted its stake in Alaska Air Group, Inc. (NYSE:ALK) by 22.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,144 shares of the transportation company’s stock after buying an additional 579 shares during the quarter. Blue Trust Inc.’s holdings in Alaska Air Group were worth $142,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ALK. QRG Capital Management Inc. raised its stake in Alaska Air Group by 4.7% during the second quarter. QRG Capital Management Inc. now owns 9,029 shares of the transportation company’s stock valued at $365,000 after purchasing an additional 406 shares in the last quarter. William Blair Investment Management LLC raised its stake in shares of Alaska Air Group by 4.0% in the first quarter. William Blair Investment Management LLC now owns 11,470 shares of the transportation company’s stock valued at $493,000 after acquiring an additional 436 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Alaska Air Group by 5.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,063 shares of the transportation company’s stock valued at $326,000 after acquiring an additional 439 shares during the period. Swiss National Bank raised its stake in shares of Alaska Air Group by 0.8% in the first quarter. Swiss National Bank now owns 63,200 shares of the transportation company’s stock valued at $2,717,000 after acquiring an additional 500 shares during the period. Finally, CWM LLC raised its stake in shares of Alaska Air Group by 13.0% in the second quarter. CWM LLC now owns 4,403 shares of the transportation company’s stock valued at $178,000 after acquiring an additional 507 shares during the period. Hedge funds and other institutional investors own 81.90% of the company’s stock.

Alaska Air Group Stock Performance

Shares of Alaska Air Group stock opened at $45.54 on Monday. Alaska Air Group, Inc. has a 52 week low of $30.75 and a 52 week high of $46.87. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $5.78 billion, a P/E ratio of 24.35, a PEG ratio of 0.66 and a beta of 1.60. The company has a 50 day moving average price of $40.93 and a 200 day moving average price of $40.63.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. TD Cowen cut their price target on shares of Alaska Air Group from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Bank of America upped their price target on shares of Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Susquehanna upped their price target on shares of Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Morgan Stanley cut their price target on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, Citigroup cut their price target 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. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.80.

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.