Connor Clark & Lunn Investment Management Ltd. Acquires 44,417 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Connor Clark & Lunn Investment Management Ltd. significantly increased its investment in Alaska Air Group, Inc. (NYSE:ALK) during the fourth quarter by 275.7%, as reported in its latest 13F filing with the Securities and Exchange Commission. Following the acquisition of an additional 44,417 shares during this period, the fund now holds a total of 60,529 shares in the airline company. The combined value of these holdings amounts to approximately $3,919,000 at the close of the quarter.

Investor Trends

Several other large investors have also adjusted their stakes in Alaska Air Group recently. Avior Wealth Management LLC raised its investment in the airline by 44.8% during the fourth quarter, bringing their total to 588 shares, valued at about $38,000. Additionally, SBI Securities Co. Ltd. established a new position in Alaska Air Group worth around $52,000 in the same quarter. EverSource Wealth Advisors LLC contributed with a 61.6% increase in their holdings, now totaling 955 shares valued at $62,000 after adding 364 shares. Other firms, like Pacific Center for Financial Services and True Wealth Design LLC, also initiated new positions in Alaska Air Group, with investments in previous quarters. Notably, institutional investors now control 81.90% of the company’s shares.

Financial Performance of Alaska Air Group

As of the last market open, Alaska Air Group stock was trading at $53.82. The company has a debt-to-equity ratio of 1.04 and liquidity ratios with a quick ratio of 0.58 and a current ratio of 0.61. Over the past year, the stock reached a low of $32.62 and peaked at $78.08. The airline currently has a market capitalization of $6.62 billion, a PE ratio of 17.65, and a price-to-earnings-growth ratio of 0.43. Its 50-day moving average stands at $68.73, while the 200-day moving average is $56.57.

Earnings Reports

Alaska Air Group announced its latest earnings results on January 22, reporting earnings per share (EPS) of $0.97 for the quarter. This result surpassed analyst expectations which forecasted an EPS of $0.45, providing a positive surprise of $0.52. The company also recorded a return on equity of 14.66% alongside a net margin of 3.37%. It is anticipated that Alaska Air Group will report an EPS of 6.03 for the current year, according to average predictions from market analysts.

Executive Transactions

In recent insider activities, CFO Shane R. Tackett sold 22,893 shares of Alaska Air Group on February 10, at an average price of $75.74, which totaled approximately $1.73 million. Following this transaction, he owns 31,873 shares valued at about $2.41 million, indicating a decrease of 41.80% in his ownership. Similarly, Senior Vice President Andrea L. Schneider sold 800 shares on December 19 at an average price of $63.89, leading to a total of $51,112. Their current holdings now stand at 20,286 shares valued at $1.3 million, indicating a 3.79% reduction in ownership. In total, insiders have sold 162,618 shares worth around $11.72 million in the last ninety days, representing 0.68% of Alaska Air Group's total stock ownership.

Analyst Ratings

Market analysts have recently provided their insights on Alaska Air Group shares. Citigroup increased its target price from $63.00 to $74.00 and rated the stock as a "buy". Similarly, Goldman Sachs lifted its price target from $70.00 to $79.00. TD Cowen has set a target of $110.00, while UBS Group and JPMorgan Chase & Co. have also raised their respective target prices to $82.00 and $89.00. Currently, one analyst rates the stock as a hold, while thirteen analysts recommend a buy, resulting in an average rating of "Moderate Buy" and a target price of approximately $77.00.

Overview of Alaska Air Group

Alaska Air Group, Inc. operates airlines through its subsidiaries, classified into three segments: Mainline, Regional, and Horizon. The company provides scheduled air transportation services, utilizing Boeing aircraft for both passengers and cargo across the United States, as well as selected destinations in Canada, Mexico, Costa Rica, Belize, Guatemala, and the Bahamas.

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