Short Interest in Alaska Air Group, Inc. (NYSE:ALK) Declines By 10.6%

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Alaska Air Group, Inc. (NYSE:ALK) saw a significant decline in short interest in the month of June. As of June 30th, there was short interest totalling 6,597,200 shares, a decline of 10.6% from the May 30th total of 7,376,300 shares. Approximately 5.4% of the shares of the company are short sold. Based on an average trading volume of 1,130,000 shares, the short-interest ratio is presently 5.8 days.

In other Alaska Air Group news, EVP Andrew R. Harrison sold 1,600 shares of Alaska Air Group stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $61.53, for a total value of $98,448.00. Following the completion of the transaction, the executive vice president now directly owns 20,567 shares in the company, valued at $1,265,487.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Andrew R. Harrison sold 4,700 shares of Alaska Air Group stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $62.63, for a total value of $294,361.00. Following the completion of the transaction, the executive vice president now owns 15,867 shares of the company’s stock, valued at $993,750.21. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of ALK. Mason Street Advisors LLC lifted its position 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 worth $986,000 after purchasing an additional 181 shares during the period. Stephens Inc. AR lifted its position 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 worth $549,000 after purchasing an additional 192 shares during the period. State Treasurer State of Michigan lifted its position 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 worth $1,992,000 after purchasing an additional 200 shares during the period. Retirement Systems of Alabama lifted its position 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 worth $3,681,000 after purchasing an additional 269 shares during the period. Finally, Sandy Spring Bank lifted its position in Alaska Air Group by 58.8% in the first quarter. Sandy Spring Bank now owns 794 shares of the transportation company’s stock worth $45,000 after purchasing an additional 294 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Shares of NYSE ALK opened at $64.24 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.57 and a current ratio of 0.59. The business’s 50 day simple moving average is $61.93. The firm has a market capitalization of $7.94 billion, a P/E ratio of 14.31, a PEG ratio of 0.46 and a beta of 0.88. Alaska Air Group has a 12-month low of $53.39 and a 12-month high of $74.83.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Thursday, April 25th. The transportation company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.04. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.87 billion. Alaska Air Group had a return on equity of 14.97% and a net margin of 5.26%. The business’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.14 earnings per share. As a group, equities research analysts forecast that Alaska Air Group will post 6.08 earnings per share for the current year.

A number of equities analysts have commented on ALK shares. Deutsche Bank lifted their target price on Rockwell Automation from $173.00 to $186.00 and gave the company a “hold” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. lifted their target price on Weight Watchers International from $12.00 to $14.00 and gave the company an “underweight” rating in a research note on Tuesday, April 30th. Zacks Investment Research downgraded Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. Morgan Stanley lifted their target price on United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Finally, ValuEngine upgraded Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned 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 $74.97.

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.

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