Patton Albertson Miller Group LLC Has $820,000 Holdings in Alaska Air Group, Inc. (NYSE:ALK)

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Patton Albertson Miller Group LLC cut its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 19.4% in the second quarter, Holdings Channel reports. The firm owned 22,601 shares of the transportation company’s stock after selling 5,430 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Alaska Air Group were worth $820,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Weaver Consulting Group grew its position in shares of Alaska Air Group by 73.8% in the 2nd quarter. Weaver Consulting Group now owns 695 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 295 shares during the period. Barnett & Company Inc. increased its stake in Alaska Air Group by 1.3% during the 2nd quarter. Barnett & Company Inc. now owns 24,912 shares of the transportation company’s stock worth $903,000 after purchasing an additional 325 shares in the last quarter. Copperwynd Financial LLC increased its stake in Alaska Air Group by 4.4% during the 2nd quarter. Copperwynd Financial LLC now owns 8,739 shares of the transportation company’s stock worth $317,000 after purchasing an additional 366 shares in the last quarter. CSat Investment Advisory L.P. grew its stake in shares of Alaska Air Group by 2.3% during the 1st quarter. CSat Investment Advisory L.P. now owns 22,209 shares of the transportation company’s stock worth $633,000 after acquiring an additional 493 shares in the last quarter. Finally, New Mexico Educational Retirement Board grew its stake in shares of Alaska Air Group by 6.5% during the 2nd quarter. New Mexico Educational Retirement Board now owns 8,250 shares of the transportation company’s stock worth $299,000 after acquiring an additional 500 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Shares of ALK traded down $0.02 during midday trading on Thursday, reaching $35.83. 35,887 shares of the stock were exchanged, compared to its average volume of 2,331,177. Alaska Air Group, Inc. has a twelve month low of $20.02 and a twelve month high of $72.22. The company has a quick ratio of 0.77, a current ratio of 0.79 and a debt-to-equity ratio of 0.76. The company has a market cap of $4.47 billion, a P/E ratio of 77.15 and a beta of 1.44. The stock’s 50 day simple moving average is $36.18 and its 200 day simple moving average is $38.67.

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

Several equities analysts have recently weighed in on ALK shares. Goldman Sachs Group raised their price target on shares of Alaska Air Group from $51.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Stifel Nicolaus raised their price target on shares of Alaska Air Group from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Bank of America raised shares of Alaska Air Group from a “neutral” rating to a “buy” rating in a research note on Monday, June 8th. UBS Group decreased 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 research note on Wednesday, May 6th. Finally, Raymond James decreased 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 research note on Monday, July 27th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $51.00.

In other news, EVP Andrew R. Harrison sold 2,500 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $39.02, for a total transaction of $97,550.00. Following the completion of the transaction, the executive vice president now owns 20,005 shares of the company’s stock, valued at $780,595.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is owned by corporate insiders.

Alaska Air Group Company Profile

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

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