Pinebridge Investments L.P. raised its position in Alaska Air Group, Inc. (NYSE:ALK) by 124.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,825 shares of the transportation company’s stock after buying an additional 2,121 shares during the quarter. Pinebridge Investments L.P.’s holdings in Alaska Air Group were worth $292,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mercer Capital Advisers Inc. acquired a new position in Alaska Air Group during the third quarter worth $116,000. Mountain Capital Investment Advisors Inc acquired a new stake in Alaska Air Group in the second quarter valued at $122,000. Bessemer Group Inc. grew its holdings in Alaska Air Group by 57.9% in the second quarter. Bessemer Group Inc. now owns 1,895 shares of the transportation company’s stock valued at $171,000 after purchasing an additional 695 shares during the last quarter. Harbour Capital Advisors LLC acquired a new stake in Alaska Air Group in the third quarter valued at $200,000. Finally, Tocqueville Asset Management L.P. acquired a new stake in Alaska Air Group in the third quarter valued at $207,000. Institutional investors own 88.69% of the company’s stock.

In other Alaska Air Group news, EVP Andrew R. Harrison sold 540 shares of Alaska Air Group stock in a transaction on Monday, November 27th. The stock was sold at an average price of $65.53, for a total transaction of $35,386.20. Following the sale, the executive vice president now owns 20,788 shares of the company’s stock, valued at approximately $1,362,237.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David L. Campbell sold 4,934 shares of Alaska Air Group stock in a transaction on Monday, December 4th. The shares were sold at an average price of $68.00, for a total value of $335,512.00. Following the sale, the chief executive officer now directly owns 9,648 shares in the company, valued at approximately $656,064. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.

Several analysts have weighed in on ALK shares. Morgan Stanley lowered their target price on Alaska Air Group from $101.00 to $96.00 and set an “overweight” rating on the stock in a report on Thursday, August 17th. BidaskClub downgraded Alaska Air Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. ValuEngine downgraded Alaska Air Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research downgraded Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Finally, Cowen reiterated a “buy” rating and set a $103.00 target price on shares of Alaska Air Group in a research report on Tuesday, September 12th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $91.27.

Shares of Alaska Air Group, Inc. (ALK) opened at $69.72 on Tuesday. Alaska Air Group, Inc. has a 12 month low of $61.10 and a 12 month high of $101.43. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $8,581.15, a P/E ratio of 9.48 and a beta of 1.03.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Wednesday, October 25th. The transportation company reported $2.24 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.02). Alaska Air Group had a net margin of 10.34% and a return on equity of 28.74%. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the business earned $2.20 EPS. Alaska Air Group’s revenue for the quarter was up 35.4% compared to the same quarter last year. equities research analysts forecast that Alaska Air Group, Inc. will post 6.75 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, December 7th. Shareholders of record on Tuesday, November 21st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Monday, November 20th. Alaska Air Group’s dividend payout ratio is presently 19.26%.

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About Alaska Air Group

Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska), Virgin America Inc, Horizon Air (Horizon) and other business units. The Company operates through three segments: Mainline, Regional and Horizon. Its Mainline segment includes Alaska’s and Virgin America’s scheduled air transportation for passengers and cargo throughout the United States, and in parts of Canada, Mexico, Costa Rica and Cuba.

Institutional Ownership by Quarter for Alaska Air Group (NYSE:ALK)

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