Bank of New York Mellon Corp Purchases 8,423 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Bank of New York Mellon Corp increased its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,016,106 shares of the transportation company’s stock after buying an additional 8,423 shares during the quarter. Bank of New York Mellon Corp owned about 0.80% of Alaska Air Group worth $41,051,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Boston Partners lifted its holdings in shares of Alaska Air Group by 64.6% in the 4th quarter. Boston Partners now owns 3,811,191 shares of the transportation company’s stock worth $148,861,000 after purchasing an additional 1,495,311 shares in the last quarter. Capital Research Global Investors bought a new position in shares of Alaska Air Group in the first quarter valued at $36,993,000. Dimensional Fund Advisors LP grew its holdings in shares of Alaska Air Group by 13.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,439,909 shares of the transportation company’s stock valued at $212,543,000 after buying an additional 660,455 shares during the last quarter. Frontier Capital Management Co. LLC increased its position in shares of Alaska Air Group by 238.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 869,045 shares of the transportation company’s stock worth $33,954,000 after acquiring an additional 612,575 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in Alaska Air Group by 4,198.3% in the 4th quarter. Franklin Resources Inc. now owns 571,589 shares of the transportation company’s stock valued at $22,332,000 after acquiring an additional 558,291 shares in the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Citigroup cut their price target on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday. TD Cowen decreased their price target on Alaska Air Group from $58.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Morgan Stanley lowered their price target on Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Susquehanna cut their price objective on shares of Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. Finally, Wolfe Research raised shares of Alaska Air Group from a “peer perform” rating to an “outperform” rating and set a $55.00 price target on the stock in a research report on Friday, May 17th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Alaska Air Group Stock Up 0.9 %

ALK opened at $36.11 on Monday. Alaska Air Group, Inc. has a twelve month low of $30.75 and a twelve month high of $46.15. The company’s 50-day moving average price is $37.26 and its two-hundred day moving average price is $39.80. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 0.67 and a beta of 1.60. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 0.55.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, July 18th. The transportation company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.36 by $0.19. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the prior year, the business earned $3.00 earnings per share. Alaska Air Group’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities analysts expect that Alaska Air Group, Inc. will post 4.08 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.