Brant Point Investment Management LLC Has $1.47 Million Stake in Alaska Air Group, Inc. $ALK

Brant Point Investment Management LLC lowered its stake in Alaska Air Group, Inc. (NYSE:ALK) by 64.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,617 shares of the transportation company’s stock after selling 53,940 shares during the quarter. Brant Point Investment Management LLC’s holdings in Alaska Air Group were worth $1,465,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ALK. Baird Financial Group Inc. lifted its stake in Alaska Air Group by 4.2% in the 2nd quarter. Baird Financial Group Inc. now owns 128,742 shares of the transportation company’s stock valued at $6,370,000 after purchasing an additional 5,193 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Alaska Air Group by 194.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,276 shares of the transportation company’s stock worth $113,000 after buying an additional 1,504 shares in the last quarter. Channing Capital Management LLC bought a new position in shares of Alaska Air Group in the 2nd quarter valued at $1,114,000. Invesco Ltd. boosted its holdings in shares of Alaska Air Group by 2.7% during the 2nd quarter. Invesco Ltd. now owns 357,520 shares of the transportation company’s stock valued at $17,690,000 after acquiring an additional 9,307 shares in the last quarter. Finally, Plan Group Financial LLC boosted its holdings in shares of Alaska Air Group by 27.5% during the 2nd quarter. Plan Group Financial LLC now owns 14,852 shares of the transportation company’s stock valued at $735,000 after acquiring an additional 3,202 shares in the last quarter. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ALK. Citigroup began coverage on Alaska Air Group in a report on Thursday. They issued a “buy” rating and a $61.00 target price for the company. UBS Group lowered their price objective on Alaska Air Group from $90.00 to $83.00 and set a “buy” rating for the company in a research note on Monday, October 27th. Susquehanna set a $58.00 price objective on shares of Alaska Air Group and gave the company a “positive” rating in a report on Friday, October 3rd. Raymond James Financial set a $65.00 target price on shares of Alaska Air Group and gave the stock an “outperform” rating in a report on Monday, October 27th. Finally, Cowen restated a “buy” rating on shares of Alaska Air Group in a research report on Monday, November 3rd. Twelve analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.42.

Alaska Air Group Stock Up 5.0%

Shares of NYSE:ALK opened at $49.69 on Monday. Alaska Air Group, Inc. has a 1 year low of $37.63 and a 1 year high of $78.08. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.52 and a quick ratio of 0.49. The business’s 50-day moving average is $44.58 and its 200-day moving average is $50.67. The company has a market capitalization of $5.76 billion, a price-to-earnings ratio of 40.07, a P/E/G ratio of 0.95 and a beta of 1.24.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, October 23rd. The transportation company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.06). The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.75 billion. Alaska Air Group had a return on equity of 8.93% and a net margin of 1.06%.The firm’s revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.25 earnings per share. Equities research analysts predict that Alaska Air Group, Inc. will post 6.03 earnings per share for the current 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.