Alaska Air Group, Inc. (NYSE:ALK) Short Interest Up 31.4% in July

Alaska Air Group, Inc. (NYSE:ALK) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 4,730,000 shares, an increase of 31.4% from the June 30th total of 3,600,000 shares. Currently, 3.9% of the company’s shares are short sold. Based on an average trading volume of 3,670,000 shares, the short-interest ratio is presently 1.3 days.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALK. Parnassus Investments CA increased its holdings in Alaska Air Group by 56.8% in the first quarter. Parnassus Investments CA now owns 2,900,000 shares of the transportation company’s stock valued at $82,563,000 after buying an additional 1,050,000 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Alaska Air Group by 212.9% during the first quarter. AQR Capital Management LLC now owns 1,153,145 shares of the transportation company’s stock worth $32,830,000 after purchasing an additional 784,660 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in shares of Alaska Air Group during the second quarter worth about $28,442,000. Norges Bank purchased a new stake in shares of Alaska Air Group during the fourth quarter worth about $35,481,000. Finally, U S Global Investors Inc. increased its stake in shares of Alaska Air Group by 1,180.8% during the first quarter. U S Global Investors Inc. now owns 386,464 shares of the transportation company’s stock worth $11,003,000 after purchasing an additional 356,290 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

A number of research analysts recently commented on ALK shares. Cowen lowered their price target on shares of Alaska Air Group from $45.00 to $39.00 and set an “outperform” rating for the company in a report on Tuesday, April 28th. Raymond James lowered their price target on shares of Alaska Air Group from $44.00 to $43.00 and set a “strong-buy” rating for the company in a report on Monday, July 27th. Wolfe Research raised shares of Alaska Air Group from a “peer perform” rating to an “outperform” rating and set a $52.00 price target for the company in a report on Friday, May 29th. UBS Group lowered their price target on shares of Alaska Air Group from $40.00 to $31.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. Finally, Bank of America raised shares of Alaska Air Group from a “neutral” rating to a “buy” rating in a report on Monday, June 8th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $52.36.

ALK traded down $0.22 on Friday, reaching $34.44. The stock had a trading volume of 2,226,263 shares, compared to its average volume of 2,025,821. Alaska Air Group has a 12-month low of $20.02 and a 12-month high of $72.22. The company has a current ratio of 0.79, a quick ratio of 0.67 and a debt-to-equity ratio of 0.76. The business’s 50-day moving average price is $36.21 and its two-hundred day moving average price is $41.49. The company has a market cap of $4.22 billion, a P/E ratio of 74.87 and a beta of 1.51.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings data on Thursday, July 23rd. The transportation company reported ($3.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.39) by ($0.15). Alaska Air Group had a net margin of 0.85% and a negative return on equity of 0.83%. The firm had revenue of $421.00 million during the quarter, compared to analysts’ expectations of $336.31 million. During the same period in the previous year, the firm posted $2.17 EPS. The firm’s quarterly revenue was down 81.6% on a year-over-year basis. As a group, analysts predict that Alaska Air Group will post -8.23 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.

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