Merit Financial Group LLC Increases Holdings in Alaska Air Group, Inc. (NYSE:ALK)

Merit Financial Group LLC boosted its stake in Alaska Air Group, Inc. (NYSE:ALK) by 14.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,385 shares of the transportation company’s stock after purchasing an additional 906 shares during the quarter. Merit Financial Group LLC’s holdings in Alaska Air Group were worth $478,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Verdence Capital Advisors LLC raised its holdings in Alaska Air Group by 2.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 10,180 shares of the transportation company’s stock valued at $460,000 after buying an additional 215 shares during the period. QRG Capital Management Inc. lifted its position in shares of Alaska Air Group by 2.7% in the 3rd quarter. QRG Capital Management Inc. now owns 9,271 shares of the transportation company’s stock worth $419,000 after purchasing an additional 242 shares during the period. First Trust Direct Indexing L.P. lifted its stake in shares of Alaska Air Group by 4.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,938 shares of the transportation company’s stock worth $268,000 after purchasing an additional 267 shares during the last quarter. Coastwise Capital Group LLC raised its stake in shares of Alaska Air Group by 6.0% during the 3rd quarter. Coastwise Capital Group LLC now owns 5,354 shares of the transportation company’s stock worth $242,000 after acquiring an additional 304 shares in the last quarter. Finally, Concurrent Investment Advisors LLC boosted its holdings in Alaska Air Group by 3.7% in the third quarter. Concurrent Investment Advisors LLC now owns 8,770 shares of the transportation company’s stock worth $397,000 after acquiring an additional 309 shares in the last quarter. Hedge funds and other institutional investors own 81.90% of the company’s stock.

Insiders Place Their Bets

In other news, COO Muehlen Constance E. Von sold 4,000 shares of Alaska Air Group stock in a transaction on Friday, December 13th. The shares were sold at an average price of $63.09, for a total value of $252,360.00. Following the transaction, the chief operating officer now directly owns 12,162 shares of the company’s stock, valued at $767,300.58. The trade was a 24.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Andrea L. Schneider sold 800 shares of the stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $63.89, for a total transaction of $51,112.00. Following the sale, the senior vice president now owns 20,286 shares of the company’s stock, valued at $1,296,072.54. This trade represents a 3.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,473 shares of company stock worth $2,198,342 in the last 90 days. Corporate insiders own 0.68% of the company’s stock.

Alaska Air Group Price Performance

Shares of ALK opened at $68.72 on Friday. The stock has a market cap of $8.72 billion, a PE ratio of 27.71, a P/E/G ratio of 0.61 and a beta of 1.54. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57. Alaska Air Group, Inc. has a 1-year low of $32.62 and a 1-year high of $71.70. The firm has a 50-day simple moving average of $61.44 and a two-hundred day simple moving average of $48.06.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.52. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. As a group, analysts forecast that Alaska Air Group, Inc. will post 4.37 EPS for the current year.

Analysts Set New Price Targets

ALK has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price target on Alaska Air Group from $58.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. The Goldman Sachs Group upped their price target on Alaska Air Group from $70.00 to $79.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. TD Cowen boosted their price target on shares of Alaska Air Group from $68.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Melius upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Monday, October 28th. Finally, Bank of America boosted their price target on shares of Alaska Air Group from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.57.

Alaska Air Group Company 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.