Victory Capital Management Inc. Acquires 2,858 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Victory Capital Management Inc. lifted its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 11.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 28,316 shares of the transportation company’s stock after purchasing an additional 2,858 shares during the quarter. Victory Capital Management Inc.’s holdings in Alaska Air Group were worth $1,280,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALK. Altshuler Shaham Ltd bought a new position in Alaska Air Group during the 2nd quarter worth $28,000. Venturi Wealth Management LLC increased its position in Alaska Air Group by 86.0% during the third quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock worth $46,000 after acquiring an additional 474 shares during the period. Pacifica Partners Inc. increased its position in Alaska Air Group by 952.4% during the third quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock worth $50,000 after acquiring an additional 1,000 shares during the period. Capital Performance Advisors LLP acquired a new stake in Alaska Air Group in the 3rd quarter worth about $67,000. Finally, Canada Pension Plan Investment Board bought a new stake in Alaska Air Group in the 2nd quarter valued at about $69,000. 81.90% of the stock is currently owned by institutional investors.

Alaska Air Group Stock Down 1.0 %

Shares of NYSE:ALK opened at $52.93 on Wednesday. The firm has a market capitalization of $6.72 billion, a P/E ratio of 21.34, a P/E/G ratio of 1.19 and a beta of 1.59. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60. The stock has a 50 day moving average price of $46.68 and a 200-day moving average price of $41.74. Alaska Air Group, Inc. has a 52-week low of $32.00 and a 52-week high of $54.14.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.03. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The business had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3 billion. During the same quarter last year, the firm earned $1.83 earnings per share. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities research analysts anticipate that Alaska Air Group, Inc. will post 4.26 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Alaska Air Group in a report on Friday, November 15th. TD Cowen reduced their price objective on shares of Alaska Air Group from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Melius Research upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Monday, October 28th. Susquehanna upped their price target on shares of Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, UBS Group reiterated a “buy” rating and set a $72.00 price target on shares of Alaska Air Group in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Alaska Air Group has a consensus rating of “Moderate Buy” and a consensus price target of $58.69.

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.