Alaska Air Group, Inc. (NYSE:ALK) Short Interest Down 6.7% in October

Alaska Air Group, Inc. (NYSE:ALKGet Rating) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 2,790,000 shares, a drop of 6.7% from the October 15th total of 2,990,000 shares. Based on an average trading volume of 1,480,000 shares, the short-interest ratio is currently 1.9 days.

Insiders Place Their Bets

In related news, EVP Andrew R. Harrison sold 3,275 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $45.90, for a total transaction of $150,322.50. Following the sale, the executive vice president now owns 10,877 shares of the company’s stock, valued at $499,254.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State of Michigan Retirement System increased its holdings in shares of Alaska Air Group by 0.7% during the 1st quarter. State of Michigan Retirement System now owns 31,762 shares of the transportation company’s stock worth $1,843,000 after purchasing an additional 231 shares during the period. Quadrant Capital Group LLC increased its stake in Alaska Air Group by 34.0% in the first quarter. Quadrant Capital Group LLC now owns 910 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 231 shares during the period. Daiwa Securities Group Inc. increased its stake in Alaska Air Group by 20.3% in the first quarter. Daiwa Securities Group Inc. now owns 1,400 shares of the transportation company’s stock valued at $81,000 after acquiring an additional 236 shares during the period. Belpointe Asset Management LLC increased its stake in Alaska Air Group by 10.4% in the first quarter. Belpointe Asset Management LLC now owns 2,495 shares of the transportation company’s stock valued at $145,000 after acquiring an additional 236 shares during the period. Finally, Crewe Advisors LLC increased its stake in Alaska Air Group by 41.0% in the second quarter. Crewe Advisors LLC now owns 918 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 267 shares during the period. Institutional investors own 76.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ALK shares. StockNews.com upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating in a research report on Tuesday, November 1st. Cowen lowered their price target on shares of Alaska Air Group from $85.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, October 21st. Melius began coverage on shares of Alaska Air Group in a report on Monday, August 15th. They set a “buy” rating on the stock. Morgan Stanley lowered their price target on shares of Alaska Air Group from $73.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, July 25th. Finally, Cowen reduced their price objective on shares of Alaska Air Group from $85.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, October 21st. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $64.30.

Alaska Air Group Stock Up 0.4 %

Alaska Air Group stock opened at $45.88 on Friday. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 114.70 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.81 and a quick ratio of 0.79. Alaska Air Group has a fifty-two week low of $38.19 and a fifty-two week high of $61.55. The firm has a fifty day moving average price of $43.25 and a two-hundred day moving average price of $44.23.

Alaska Air Group (NYSE:ALKGet Rating) last posted its quarterly earnings data on Thursday, October 20th. The transportation company reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.14. Alaska Air Group had a net margin of 0.60% and a return on equity of 12.45%. The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the previous year, the firm posted $1.47 EPS. The business’s revenue was up 44.8% compared to the same quarter last year. As a group, analysts forecast that Alaska Air Group will post 4.36 earnings per share for the current year.

About Alaska Air Group

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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 flies to approximately 120 destinations throughout North America. Alaska Air Group, Inc was founded in 1932 and is based in Seattle, Washington.

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