Nisa Investment Advisors LLC Lowers Stock Holdings in Alaska Air Group, Inc. (NYSE:ALK)

Nisa Investment Advisors LLC trimmed its position in Alaska Air Group, Inc. (NYSE:ALK) by 30.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,900 shares of the transportation company’s stock after selling 10,000 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Alaska Air Group were worth $1,464,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ALK. Mason Street Advisors LLC raised its stake in Alaska Air Group by 1.0% in the first quarter. Mason Street Advisors LLC now owns 17,564 shares of the transportation company’s stock valued at $986,000 after purchasing an additional 181 shares in the last quarter. Stephens Inc. AR raised its stake in Alaska Air Group by 2.0% in the first quarter. Stephens Inc. AR now owns 9,786 shares of the transportation company’s stock valued at $549,000 after purchasing an additional 192 shares in the last quarter. State Treasurer State of Michigan raised its stake in Alaska Air Group by 0.6% in the first quarter. State Treasurer State of Michigan now owns 35,496 shares of the transportation company’s stock valued at $1,992,000 after purchasing an additional 200 shares in the last quarter. Retirement Systems of Alabama raised its stake in Alaska Air Group by 0.5% in the second quarter. Retirement Systems of Alabama now owns 57,597 shares of the transportation company’s stock valued at $3,681,000 after purchasing an additional 269 shares in the last quarter. Finally, Sandy Spring Bank raised its stake in Alaska Air Group by 58.8% in the first quarter. Sandy Spring Bank now owns 794 shares of the transportation company’s stock valued at $45,000 after purchasing an additional 294 shares in the last quarter. 88.33% of the stock is currently owned by hedge funds and other institutional investors.

NYSE ALK traded up $0.13 on Friday, reaching $63.27. 1,021,117 shares of the company’s stock traded hands, compared to its average volume of 1,095,386. Alaska Air Group, Inc. has a 12 month low of $53.39 and a 12 month high of $74.83. The company has a current ratio of 0.63, a quick ratio of 0.57 and a debt-to-equity ratio of 0.75. The stock has a 50-day moving average price of $63.60. The firm has a market cap of $7.82 billion, a PE ratio of 14.19, a PEG ratio of 0.50 and a beta of 0.86.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Thursday, July 25th. The transportation company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.11 by $0.06. Alaska Air Group had a net margin of 6.00% and a return on equity of 16.28%. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period last year, the business earned $1.66 earnings per share. The business’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities analysts predict that Alaska Air Group, Inc. will post 5.93 EPS for the current fiscal year.

In other Alaska Air Group news, VP Kyle B. Levine sold 2,430 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total transaction of $157,950.00. Following the transaction, the vice president now directly owns 8,039 shares in the company, valued at $522,535. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew R. Harrison sold 1,600 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $61.53, for a total transaction of $98,448.00. Following the transaction, the executive vice president now owns 20,567 shares in the company, valued at $1,265,487.51. The disclosure for this sale can be found here. Insiders have sold 8,730 shares of company stock worth $550,759 over the last quarter. Company insiders own 0.43% of the company’s stock.

ALK has been the topic of a number of recent analyst reports. Deutsche Bank lowered their target price on shares of Alaska Air Group from $73.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Macquarie downgraded shares of Alaska Air Group from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $79.00 to $63.00 in a research note on Monday, July 29th. JPMorgan Chase & Co. raised shares of Alaska Air Group from a “neutral” rating to an “overweight” rating and raised their target price for the company from $71.00 to $72.00 in a research note on Tuesday, April 30th. Morgan Stanley raised their target price on shares of Alaska Air Group from $76.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Finally, TheStreet raised shares of Alaska Air Group from a “c” rating to a “b” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. Alaska Air Group currently has a consensus rating of “Buy” and a consensus price target of $73.21.

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 has a network of approximately 1,200 daily flights to 115 destinations across the United States, Mexico, Canada, and Costa Rica.

Further Reading: Why is momentum important to successful trading?

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

Receive News & Ratings for Alaska Air Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alaska Air Group and related companies with MarketBeat.com's FREE daily email newsletter.