Wealth Enhancement Advisory Services LLC Buys 12,126 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 165.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,444 shares of the transportation company’s stock after acquiring an additional 12,126 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Alaska Air Group were worth $879,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd bought a new position in shares of Alaska Air Group in the 2nd quarter valued at $28,000. Pacifica Partners Inc. raised its position in shares of Alaska Air Group by 952.4% in the 3rd quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock worth $50,000 after acquiring an additional 1,000 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Alaska Air Group in the 2nd quarter worth about $69,000. Halpern Financial Inc. bought a new position in shares of Alaska Air Group in the 2nd quarter worth about $81,000. Finally, GAMMA Investing LLC increased its position in Alaska Air Group by 31.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,602 shares of the transportation company’s stock valued at $105,000 after buying an additional 626 shares in the last quarter. Institutional investors own 81.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Bank of America boosted their target price on Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, September 13th. TD Cowen dropped their price objective on Alaska Air Group from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Susquehanna upped their price objective on Alaska Air Group from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Citigroup dropped their target price on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Finally, Evercore ISI dropped their target price on 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. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Alaska Air Group currently has an average rating of “Moderate Buy” and an average price target of $54.17.

Alaska Air Group Stock Up 2.9 %

Shares of NYSE ALK opened at $48.58 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 0.93. Alaska Air Group, Inc. has a 12-month low of $32.00 and a 12-month high of $50.16. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 0.75 and a beta of 1.59. The firm’s 50-day moving average price is $42.43 and its 200-day moving average price is $40.86.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period in the prior year, the firm earned $1.83 EPS. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities research analysts anticipate that Alaska Air Group, Inc. will post 4.31 EPS for the current fiscal 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.