Alaska Air Group Inc. (ALK) may enjoy gains as insiders got busy in the recent days

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Alaska Air Group Inc.’s recent filing unveils that its EVP AND CCO HARRISON ANDREW R unloaded Company’s shares for reported $0.15 million on Sep 08. In the deal valued at $45.90 per share,3,275 shares were sold. As a result of this transaction, HARRISON ANDREW R now holds 10,877 shares worth roughly $ 0.49 million.


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Then, HARRISON ANDREW R sold 2,267 shares, generating $100,037 in total proceeds. Upon selling the shares at $44.13, the EVP AND CCO now owns 14,152 shares.

Before that, TACKETT SHANE R sold 2,000 shares. Alaska Air Group Inc. shares valued at $93,940 were divested by the EVP AND CFO at a price of $46.97 per share. As a result of the transaction, TACKETT SHANE R now holds 9,966 shares, worth roughly $0.45 million.

Raymond James downgraded its Alaska Air Group Inc. [ALK] rating to an Outperform from a a Strong buy in a research note published on Monday, June 23, 2022; the price target was decreased to $58 from $75. PT values the company’s stock at a premium of 22.34 to its Monday closing price. Wolfe Research also remained covering ALK and has increased its forecast on June 18, 2021 with a “an Outperform” recommendation from previously “Peer perform” rating. MKM Partners started covering the stock on June 10, 2021. It rated ALK as “a Buy”.

Price Performance Review of ALK

On Monday, Alaska Air Group Inc. [NYSE:ALK] saw its stock jump 0.40% to $45.04. On the same session, the stock had its day’s lowest price of $44.13, but rose to a high of $45.50. Over the last five days, the stock has gained 1.30%. Alaska Air Group Inc. shares have fallen nearly -13.55% since the year began. Nevertheless, the stocks have fallen -24.11% over the past one year. While a 52-week high of $61.55 was reached on 04/21/22, a 52-week low of $38.19 was recorded on 06/17/22. SMA at 50 days reached $43.00, while 200 days put it at $47.78. A total of 1.13 million shares were traded, compared to the trading of 2.2 million shares in the previous session.

Levels Of Support And Resistance For ALK Stock

The 24-hour chart illustrates a support level at 44.28, which if violated will result in even more drops to 43.52. On the upside, there is a resistance level at 45.65. A further resistance level may holdings at 46.26. The Relative Strength Index (RSI) on the 14-day chart is 60.51, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.33, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 7.62%. Stochastics %K at 86.56% indicates the stock is a selling.

How much short interest is there in Alaska Air Group Inc.?

A steep rise in short interest was recorded in Alaska Air Group Inc. stocks on Jul 14, 2022, dropping by -0.84 million shares to a total of 3.3 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 4.14 million shares. There was a decline of -25.45%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.94% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.97.

Alaska Air Group Inc. [ALK] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 13,695,554 shares, or roughly 10.80% of the outstanding ALK shares. In other words, the investor’s shares have risen by 100,731 from its previous 13-F filing of 13594823.0. Additionally, Victory Capital Management, Inc. increased 4.01% of its stake after which the total value it holdings stand at $253,256,965, while BlackRock Fund Advisors added 0.86% of its stake to hold $229.95 million in the firm. Over the last quarter, PRIMECAP Management Co. sold -77,950 shares of Alaska Air Group Inc., while SSgA Funds Management, Inc. sold -164,589 shares. At present, Boston Partners Global Investors, is holding 3,132,399 shares valued at $122.63 million. Geode Capital Management LLC owned 2,504,867 shares of the company at the time of its most recent 13F filing, worth $98.07 million.

According to FactSet, Alaska Air Group Inc.’s share price will average $61.58 in the next year, based on opinions of analysts polled by the firm. This is up nearly 28.18 percent from its previous closing price of $44.86. Analysts expect Alaska Air Group Inc. stock to reach the higher price of $95.00, while the lowest price estimate is $45.00. However, 13 analysts have rated ALK stock as a Buy in their predictions for 2022.

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