Alaska Air Group, Inc. (NYSE:ALK) Sees Large Decline in Short Interest

by · The Markets Daily

Alaska Air Group, Inc. (NYSE:ALK – Get Free Report) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totalling 9,010,000 shares, a decrease of 9.4% from the August 15th total of 9,950,000 shares. Based on an average trading volume of 2,160,000 shares, the days-to-cover ratio is currently 4.2 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Capital Research Global Investors purchased a new stake in shares of Alaska Air Group in the 1st quarter valued at approximately $36,993,000. Frontier Capital Management Co. LLC lifted its stake in shares of Alaska Air Group by 238.8% in the 4th quarter. Frontier Capital Management Co. LLC now owns 869,045 shares of the transportation company’s stock valued at $33,954,000 after purchasing an additional 612,575 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Alaska Air Group by 4,198.3% during the 4th quarter. Franklin Resources Inc. now owns 571,589 shares of the transportation company’s stock worth $22,332,000 after purchasing an additional 558,291 shares during the period. Principal Financial Group Inc. increased its position in shares of Alaska Air Group by 319.5% during the 4th quarter. Principal Financial Group Inc. now owns 674,055 shares of the transportation company’s stock worth $26,335,000 after purchasing an additional 513,373 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Alaska Air Group by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company’s stock valued at $262,789,000 after buying an additional 357,907 shares during the period. Institutional investors and hedge funds own 81.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. TD Cowen upped their price target on Alaska Air Group from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Friday. Bank of America lifted their price target on shares of Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday. Morgan Stanley decreased their price objective on shares of Alaska Air Group from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Susquehanna reduced their price target on shares of Alaska Air Group from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday, July 16th. Finally, Citigroup lowered their price objective on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Alaska Air Group presently has an average rating of “Moderate Buy” and an average target price of $54.00.

Get Our Latest Report on ALK

Alaska Air Group Price Performance

Shares of Alaska Air Group stock traded down $0.36 on Tuesday, hitting $40.98. 2,984,382 shares of the company were exchanged, compared to its average volume of 2,234,160. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average price of $36.94 and a 200 day moving average price of $39.84. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 0.60 and a beta of 1.59. Alaska Air Group has a 1-year low of $30.75 and a 1-year high of $46.15.

Alaska Air Group (NYSE:ALK – Get Free Report) last released its quarterly earnings data on Thursday, July 18th. The transportation company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.19. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.94 billion. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.00 earnings per share. As a group, sell-side analysts predict that Alaska Air Group will post 4.17 earnings per share for the current fiscal year.

About Alaska Air Group

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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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