Alaska Air Group, Inc. (NYSE:ALK) Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. cut its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 8.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,160,100 shares of the transportation company’s stock after selling 113,400 shares during the period. Alaska Air Group makes up approximately 1.9% of Hennessy Advisors Inc.’s holdings, making the stock its 4th biggest position. Hennessy Advisors Inc. owned about 0.95% of Alaska Air Group worth $57,100,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Perkins Coie Trust Co lifted its stake in Alaska Air Group by 125.7% during the first quarter. Perkins Coie Trust Co now owns 677 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 377 shares during the last quarter. Wood Tarver Financial Group LLC acquired a new stake in Alaska Air Group during the fourth quarter valued at approximately $38,000. SBI Securities Co. Ltd. acquired a new stake in Alaska Air Group during the fourth quarter valued at approximately $52,000. EverSource Wealth Advisors LLC lifted its stake in Alaska Air Group by 61.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 364 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in Alaska Air Group by 459.1% during the first quarter. UMB Bank n.a. now owns 1,297 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 1,065 shares during the last quarter. 81.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ALK shares. TD Cowen boosted their price target on shares of Alaska Air Group from $54.00 to $62.00 and gave the company a “buy” rating in a report on Friday, April 25th. UBS Group lowered shares of Alaska Air Group from a “buy” rating to a “neutral” rating and cut their price target for the company from $75.00 to $54.00 in a report on Monday, April 7th. Barclays cut their price target on shares of Alaska Air Group from $62.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. Citigroup cut their price target on shares of Alaska Air Group from $83.00 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Alaska Air Group from $85.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $66.83.

Insider Buying and Selling at Alaska Air Group

In other news, VP Emily Halverson sold 2,946 shares of the firm’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $51.34, for a total transaction of $151,247.64. Following the completion of the transaction, the vice president now directly owns 8,253 shares of the company’s stock, valued at approximately $423,709.02. This trade represents a 26.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew R. Harrison sold 7,500 shares of the firm’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $53.51, for a total transaction of $401,325.00. Following the transaction, the executive vice president now directly owns 26,530 shares of the company’s stock, valued at $1,419,620.30. The trade was a 22.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,479 shares of company stock valued at $554,228 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Alaska Air Group Stock Performance

Shares of ALK opened at $47.40 on Friday. The company’s fifty day moving average is $48.81 and its 200-day moving average is $58.24. Alaska Air Group, Inc. has a 12 month low of $32.62 and a 12 month high of $78.08. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 0.43 and a beta of 1.44. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.04.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Wednesday, April 23rd. The transportation company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.05). Alaska Air Group had a net margin of 3.37% and a return on equity of 14.66%. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same period last year, the company earned ($0.92) earnings per share. Alaska Air Group’s revenue for the quarter was up 40.5% on a year-over-year basis. Equities analysts expect that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal 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.