Sequoia Financial Advisors LLC Has $228,000 Stock Position in Alaska Air Group, Inc. (NYSE:ALK)

Sequoia Financial Advisors LLC lessened its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 11.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 5,049 shares of the transportation company’s stock after selling 665 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Alaska Air Group were worth $228,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALK. Capital Research Global Investors bought a new position in Alaska Air Group during the first quarter worth $36,993,000. Dimensional Fund Advisors LP lifted its stake in shares of Alaska Air Group by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company’s stock valued at $262,789,000 after purchasing an additional 357,907 shares during the period. Mesirow Institutional Investment Management Inc. bought a new stake in shares of Alaska Air Group during the 2nd quarter valued at about $11,475,000. Russell Investments Group Ltd. grew its stake in Alaska Air Group by 35.0% during the first quarter. Russell Investments Group Ltd. now owns 862,376 shares of the transportation company’s stock worth $37,074,000 after purchasing an additional 223,725 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in Alaska Air Group by 8.0% in the second quarter. Point72 Asset Management L.P. now owns 2,969,295 shares of the transportation company’s stock worth $119,960,000 after purchasing an additional 220,030 shares in the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.

Alaska Air Group Trading Down 0.4 %

Shares of Alaska Air Group stock opened at $46.92 on Wednesday. The company has a market capitalization of $5.95 billion, a P/E ratio of 25.09, a price-to-earnings-growth ratio of 0.66 and a beta of 1.60. The stock has a fifty day simple moving average of $41.41 and a 200 day simple moving average of $40.70. Alaska Air Group, Inc. has a 12-month low of $30.75 and a 12-month high of $47.45. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 0.55.

Wall Street Analysts Forecast Growth

ALK has been the subject of several recent analyst reports. Bank of America raised their price objective on shares of Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Melius raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Monday. Evercore ISI cut their price objective on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, October 3rd. Melius Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Monday. Finally, TD Cowen cut their price target on Alaska Air Group from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.17.

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.