Potrero Capital Research LLC Makes New $1.05 Million Investment in Alaska Air Group, Inc. (NYSE:ALK)

Potrero Capital Research LLC purchased a new position in shares of Alaska Air Group, Inc. (NYSE:ALK) in the first quarter, HoldingsChannel reports. The institutional investor purchased 15,100 shares of the transportation company’s stock, valued at approximately $1,045,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Command Bank bought a new position in Alaska Air Group during the first quarter worth about $25,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Alaska Air Group in the first quarter valued at approximately $27,000. Total Clarity Wealth Management Inc. bought a new position in shares of Alaska Air Group in the first quarter valued at approximately $28,000. Concord Wealth Partners bought a new position in shares of Alaska Air Group in the fourth quarter valued at approximately $29,000. Finally, Arlington Partners LLC bought a new position in shares of Alaska Air Group in the first quarter valued at approximately $29,000. Hedge funds and other institutional investors own 77.02% of the company’s stock.

In other news, SVP Andrea L. Schneider sold 2,100 shares of the business’s stock in a transaction on Friday, May 14th. The shares were sold at an average price of $70.00, for a total value of $147,000.00. Following the completion of the transaction, the senior vice president now owns 12,139 shares of the company’s stock, valued at approximately $849,730. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Bradley D. Tilden sold 4,875 shares of the business’s stock in a transaction on Thursday, July 1st. The shares were sold at an average price of $60.60, for a total transaction of $295,425.00. The disclosure for this sale can be found here. Insiders have sold a total of 76,337 shares of company stock valued at $5,235,901 in the last ninety days. Company insiders own 0.73% of the company’s stock.

A number of research analysts have recently issued reports on the stock. MKM Partners assumed coverage on shares of Alaska Air Group in a research note on Thursday, June 10th. They issued a “buy” rating and a $81.00 target price for the company. Morgan Stanley cut their target price on shares of Alaska Air Group from $90.00 to $89.00 and set an “overweight” rating for the company in a research note on Tuesday, June 1st. Barclays lifted their target price on shares of Alaska Air Group from $54.00 to $68.00 in a research note on Thursday, April 15th. Wolfe Research raised shares of Alaska Air Group from a “peer perform” rating to an “outperform” rating in a report on Friday, June 18th. Finally, JPMorgan Chase & Co. raised their price target on shares of Alaska Air Group from $65.00 to $104.00 and gave the company an “overweight” rating in a report on Wednesday, April 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $73.92.

ALK traded down $0.61 during trading on Thursday, reaching $56.98. 27,400 shares of the company’s stock were exchanged, compared to its average volume of 1,978,922. The firm has a fifty day moving average of $63.73. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.90 and a quick ratio of 0.89. Alaska Air Group, Inc. has a fifty-two week low of $33.22 and a fifty-two week high of $74.25. The firm has a market cap of $7.09 billion, a price-to-earnings ratio of -5.91 and a beta of 1.79.

Alaska Air Group (NYSE:ALK) last released its earnings results on Wednesday, April 21st. The transportation company reported ($3.51) EPS for the quarter, topping analysts’ consensus estimates of ($3.63) by $0.12. Alaska Air Group had a negative net margin of 44.22% and a negative return on equity of 48.26%. The firm had revenue of $797.00 million during the quarter, compared to analyst estimates of $786.52 million. During the same quarter in the previous year, the business earned ($0.82) EPS. The business’s quarterly revenue was down 51.3% compared to the same quarter last year. Equities research analysts forecast that Alaska Air Group, Inc. will post -2.29 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 flies to approximately 115 destinations throughout the United States and North America. The company was founded in 1932 and is based in Seattle, Washington.

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

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