Cambridge Investment Research Advisors Inc. cut its position in Alaska Air Group, Inc. (NYSE:ALK) by 23.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,649 shares of the transportation company’s stock after selling 1,991 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Alaska Air Group were worth $402,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Camarda Financial Advisors LLC bought a new position in Alaska Air Group during the 2nd quarter valued at $101,000. Mount Yale Investment Advisors LLC bought a new position in Alaska Air Group during the 1st quarter valued at $105,000. Asset Management One Co. Ltd. boosted its stake in Alaska Air Group by 307.9% during the 1st quarter. Asset Management One Co. Ltd. now owns 2,178 shares of the transportation company’s stock valued at $135,000 after acquiring an additional 1,644 shares during the last quarter. BDO Wealth Advisors LLC boosted its stake in Alaska Air Group by 485.0% during the 1st quarter. BDO Wealth Advisors LLC now owns 3,071 shares of the transportation company’s stock valued at $190,000 after acquiring an additional 2,546 shares during the last quarter. Finally, Jolley Asset Management LLC boosted its stake in Alaska Air Group by 753.3% during the 2nd quarter. Jolley Asset Management LLC now owns 3,200 shares of the transportation company’s stock valued at $193,000 after acquiring an additional 2,825 shares during the last quarter. Institutional investors and hedge funds own 88.72% of the company’s stock.

Shares of NYSE:ALK traded up $1.76 on Friday, reaching $61.57. 3,093,082 shares of the company’s stock were exchanged, compared to its average volume of 2,133,158. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.71 and a current ratio of 0.73. Alaska Air Group, Inc. has a fifty-two week low of $57.53 and a fifty-two week high of $81.77. The stock has a market capitalization of $8.48 billion, a price-to-earnings ratio of 9.27, a price-to-earnings-growth ratio of 2.36 and a beta of 0.54.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings data on Thursday, July 26th. The transportation company reported $1.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.03. Alaska Air Group had a net margin of 10.28% and a return on equity of 16.99%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the company earned $2.48 EPS. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. Sell-side analysts expect that Alaska Air Group, Inc. will post 4.2 EPS for the current fiscal year.

In related news, EVP Shane R. Tackett sold 3,000 shares of the stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $66.81, for a total value of $200,430.00. Following the sale, the executive vice president now owns 8,238 shares of the company’s stock, valued at approximately $550,380.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.56% of the stock is owned by company insiders.

A number of research analysts have commented on the stock. Citigroup reduced their price objective on shares of Alaska Air Group from $69.00 to $68.00 and set a “neutral” rating on the stock in a research note on Monday, June 18th. Stifel Nicolaus reduced their price objective on shares of Alaska Air Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, July 27th. Buckingham Research dropped their target price on shares of Alaska Air Group from $84.00 to $83.00 and set a “buy” rating on the stock in a report on Monday, September 24th. ValuEngine raised shares of Alaska Air Group from a “sell” rating to a “hold” rating in a report on Monday, July 30th. Finally, Imperial Capital dropped their target price on shares of Alaska Air Group from $65.00 to $62.00 and set an “inline” rating on the stock in a report on Wednesday, June 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Alaska Air Group has an average rating of “Hold” and an average target price of $76.92.

About Alaska Air Group

Alaska Air Group, Inc, through its subsidiaries, provides passengers and cargo air transportation services. It also focuses on providing ground and ramp handling services to airlines. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 118 destinations across the United States, Mexico, Canada, and Costa Rica.

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

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