Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Alaska Air Group Inc. shares valued at $150,332 were sold by HARRISON ANDREW R on Sep 08. At $45.90 per share, HARRISON ANDREW R sold 3,275 shares. The insider’s holdings dropped to 10,877 shares worth approximately $0.47 million following the completion of this transaction.
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Also, HARRISON ANDREW R sold 2,267 shares, netting a total of over 100,037 in proceeds. Following the sale of shares at $44.13 each, the insider now holds 14,152 shares.
Before that, TACKETT SHANE R had sold 2,000 shares from its account. In a trade valued at $93,940, the EVP AND CFO traded Alaska Air Group Inc. shares for $46.97 each. Upon closing the transaction, the insider’s holdings decreased to 2,000 shares, worth approximately $0.43 million.
As published in a research note from Raymond James on June 23, 2022, Alaska Air Group Inc. [ALK] has been rated down from a Strong buy to an Outperform and the price target has been revised to $58 from $75. This represents a 25.02% premium over Wednesday’s closing price. As of June 18, 2021, Wolfe Research has increased its “Peer perform” rating to a “an Outperform” for ALK. Earlier on June 10, 2021, MKM Partners initiated its rating. Their recommendation was “a Buy” for ALK stock.
Analyzing ALK’s Price Performance
On Wednesday, Alaska Air Group Inc. [NYSE: ALK] plunged -4.06% to $43.49. The stock’s lowest price that day was $43.47, but it reached a high of $45.05 in the same session. During the last five days, there has been a drop of approximately -5.37%. Over the course of the year, Alaska Air Group Inc. shares have dropped approximately -16.53%. Shares of the company reached a 52-week high of $61.55 on 04/21/22 and a 52-week low of $38.19 on 06/17/22. A 50-day SMA is recorded $44.88, while a 200-day SMA reached $49.56. Nevertheless, trading volume fell to 1.73 million shares from 1.0 million shares the previous day.
Support And Resistance Levels for Alaska Air Group Inc. (ALK)
According to the 24-hour chart, there is a support level at 42.96, which, if violated, would cause prices to drop to 42.42. In the upper region, resistance lies at 44.54. The next price resistance is at 45.58. RSI (Relative Strength Index) is 43.14 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.31, which suggests the price will decrease in the coming days. Percent R is at 75.82%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Alaska Air Group Inc. subject to short interest?
Stocks of Alaska Air Group Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.84 million shares to 3.3 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.14 million shares. A decline of -25.45% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.97 of the overall float, the days-to-cover ratio (short ratio) decline to 1.97.
Which companies own the most shares of Alaska Air Group Inc. (ALK)?
According to The Vanguard Group, Inc. filings, the company currently owns 13,695,554 shares, which is about 10.80% of the total ALK shares outstanding. The investor’s shares have appreciated by 100,731 from its previous 13-F filing of 13594823.0 shares. With the completion of the sale transaction, Victory Capital Management, Inc.’s stake is now worth $270,919,155. BlackRock Fund Advisors acquire a 0.86% interest valued at $255.85 million while PRIMECAP Management Co. sold a -77,950 stake. A total of -164,589 shares of Alaska Air Group Inc. were sold by SSgA Funds Management, Inc. during the quarter, and 50,896 were bought by Boston Partners Global Investors,. In its current portfolio, Geode Capital Management LLC holds 2,504,867 shares valued at $109.11 million.
In terms of Alaska Air Group Inc. share price expectations, FactSet research, analysts set an average price target of $64.75 in the next 12 months, up nearly 35.67% from the previous closing price of $45.33. Analysts anticipate Alaska Air Group Inc. stock to reach $95.00 by 2022, with the lowest price target being $45.00. In spite of this, 13 analysts ranked Alaska Air Group Inc. stock as a Buy at the end of 2022. On April 06, 2021, Morgan Stanley assigned a price target of “an Overweight” to the stock and upgraded coverage with a $90.