Channing Capital Management LLC Invests $1.11 Million in Alaska Air Group, Inc. $ALK

by · The Markets Daily

Channing Capital Management LLC bought a new stake in shares of Alaska Air Group, Inc. (NYSE:ALK – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 22,510 shares of the transportation company’s stock, valued at approximately $1,114,000.

Several other large investors have also recently made changes to their positions in ALK. Invesco Ltd. increased its holdings in Alaska Air Group by 2.7% in the second quarter. Invesco Ltd. now owns 357,520 shares of the transportation company’s stock valued at $17,690,000 after buying an additional 9,307 shares in the last quarter. Plan Group Financial LLC grew its position in shares of Alaska Air Group by 27.5% during the 2nd quarter. Plan Group Financial LLC now owns 14,852 shares of the transportation company’s stock valued at $735,000 after acquiring an additional 3,202 shares during the period. Momentous Wealth Management Inc. acquired a new stake in shares of Alaska Air Group during the 2nd quarter valued at about $229,000. Edgestream Partners L.P. increased its stake in shares of Alaska Air Group by 283.9% in the 2nd quarter. Edgestream Partners L.P. now owns 57,091 shares of the transportation company’s stock valued at $2,825,000 after purchasing an additional 42,221 shares in the last quarter. Finally, Norges Bank acquired a new position in Alaska Air Group in the 2nd quarter worth about $21,485,000. 81.90% of the stock is currently owned by institutional investors and hedge funds.

Alaska Air Group Trading Up 6.3%

Shares of ALK stock opened at $45.36 on Thursday. Alaska Air Group, Inc. has a fifty-two week low of $37.63 and a fifty-two week high of $78.08. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.49 and a current ratio of 0.52. The stock’s fifty day moving average is $44.69 and its two-hundred day moving average is $50.73. The firm has a market capitalization of $5.26 billion, a P/E ratio of 36.58, a PEG ratio of 0.82 and a beta of 1.24.

Alaska Air Group (NYSE:ALK – Get Free Report) last issued its earnings results on Thursday, October 23rd. The transportation company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.06). The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.75 billion. Alaska Air Group had a net margin of 1.06% and a return on equity of 8.93%. Alaska Air Group’s quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter last year, the company earned $2.25 earnings per share. Research analysts expect that Alaska Air Group, Inc. will post 6.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ALK has been the topic of several research analyst reports. UBS Group dropped their price objective on Alaska Air Group from $90.00 to $83.00 and set a “buy” rating on the stock in a report on Monday, October 27th. Wall Street Zen cut shares of Alaska Air Group from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Evercore ISI cut their price target on shares of Alaska Air Group from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Tuesday, September 16th. Raymond James Financial set a $65.00 price objective on shares of Alaska Air Group and gave the company an “outperform” rating in a report on Monday, October 27th. Finally, TD Cowen boosted their target price on shares of Alaska Air Group from $61.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Twelve analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $73.08.

Get Our Latest Research Report on Alaska Air Group

About Alaska Air Group

(Free Report)

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.

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