Quantbot Technologies LP Buys 51,096 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Quantbot Technologies LP lifted its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 156.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 83,777 shares of the transportation company’s stock after buying an additional 51,096 shares during the quarter. Quantbot Technologies LP owned about 0.07% of Alaska Air Group worth $3,788,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ALK. FMR LLC lifted its holdings in Alaska Air Group by 32.4% during the 3rd quarter. FMR LLC now owns 1,084,639 shares of the transportation company’s stock worth $49,037,000 after purchasing an additional 265,343 shares during the last quarter. Bank of Montreal Can grew its holdings in Alaska Air Group by 54.7% in the 3rd quarter. Bank of Montreal Can now owns 57,577 shares of the transportation company’s stock valued at $2,591,000 after buying an additional 20,347 shares in the last quarter. Cerity Partners LLC increased its position in Alaska Air Group by 360.0% during the 3rd quarter. Cerity Partners LLC now owns 49,672 shares of the transportation company’s stock worth $2,246,000 after buying an additional 38,874 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Alaska Air Group by 45.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,247 shares of the transportation company’s stock worth $64,300,000 after buying an additional 442,331 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Alaska Air Group by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,593,756 shares of the transportation company’s stock valued at $72,054,000 after acquiring an additional 6,977 shares during the period. Institutional investors and hedge funds own 81.90% of the company’s stock.

Alaska Air Group Price Performance

ALK stock opened at $52.93 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.93. Alaska Air Group, Inc. has a 12 month low of $32.00 and a 12 month high of $54.14. The firm has a market cap 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’s 50-day moving average price is $46.68 and its two-hundred day moving average price is $41.74.

Alaska Air Group (NYSE:ALK) last posted its quarterly 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 company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period last year, the company posted $1.83 EPS. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, analysts anticipate that Alaska Air Group, Inc. will post 4.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ALK has been the topic of a number of recent research reports. Melius raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Monday, October 28th. Barclays raised their target price on shares of Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Bank of America increased their price target on Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Melius Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Monday, October 28th. Finally, Citigroup cut their target price on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.