Cerebellum GP LLC Buys Shares of 4,186 Alaska Air Group, Inc. (NYSE:ALK)

Cerebellum GP LLC bought a new stake in shares of Alaska Air Group, Inc. (NYSE:ALK) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,186 shares of the transportation company’s stock, valued at approximately $272,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in Alaska Air Group by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 12,985,616 shares of the transportation company’s stock valued at $829,911,000 after purchasing an additional 180,250 shares during the last quarter. BlackRock Inc. boosted its stake in Alaska Air Group by 1.5% during the 2nd quarter. BlackRock Inc. now owns 7,067,885 shares of the transportation company’s stock valued at $451,708,000 after purchasing an additional 103,191 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Alaska Air Group by 63.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,186,584 shares of the transportation company’s stock valued at $203,654,000 after purchasing an additional 1,239,517 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in Alaska Air Group by 251.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,616,249 shares of the transportation company’s stock valued at $103,295,000 after purchasing an additional 1,156,035 shares during the last quarter. Finally, Morgan Stanley boosted its stake in Alaska Air Group by 3.1% during the 2nd quarter. Morgan Stanley now owns 1,306,564 shares of the transportation company’s stock valued at $83,503,000 after purchasing an additional 39,337 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

In other news, CFO Brandon Pedersen sold 4,024 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $67.01, for a total value of $269,648.24. Following the transaction, the chief financial officer now directly owns 22,500 shares in the company, valued at approximately $1,507,725. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.43% of the company’s stock.

Several analysts have commented on ALK shares. Cowen reiterated an “outperform” rating and set a $75.00 target price on shares of Alaska Air Group in a research note on Friday, October 11th. Morgan Stanley increased their target price on Alaska Air Group from $74.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Macquarie downgraded Alaska Air Group from an “outperform” rating to a “neutral” rating and cut their target price for the company from $79.00 to $63.00 in a research note on Monday, July 29th. Imperial Capital restated an “in-line” rating and issued a $70.00 price target (up from $68.00) on shares of Alaska Air Group in a research note on Tuesday, August 6th. Finally, TheStreet upgraded Alaska Air Group from a “c” rating to a “b” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $72.36.

ALK stock opened at $67.33 on Wednesday. The company has a market cap of $8.15 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 0.57 and a beta of 0.85. Alaska Air Group, Inc. has a 1 year low of $53.39 and a 1 year high of $74.83. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.63 and a quick ratio of 0.61. The stock’s fifty day moving average price is $63.65 and its 200-day moving average price is $62.06.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Thursday, July 25th. The transportation company reported $2.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.06. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. Alaska Air Group had a return on equity of 16.28% and a net margin of 6.00%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the business posted $1.66 EPS. As a group, analysts expect that Alaska Air Group, Inc. will post 6.22 earnings per share for the current year.

About Alaska Air Group

Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 115 destinations across the United States, Mexico, Canada, and Costa Rica.

See Also: How to Invest in Marijuana Stocks

Want to see what other hedge funds are holding ALK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alaska Air Group, Inc. (NYSE:ALK).

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

Receive News & Ratings for Alaska Air Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alaska Air Group and related companies with MarketBeat.com's FREE daily email newsletter.