Investing in Alaska Air Group Inc. (ALK) Is Getting More Attractive


Alaska Air Group Inc.’s filing revealed that its SVP PEOPLE SCHNEIDER ANDREA L unloaded Company’s shares for reported $81098.0 on Jan 27. In the deal valued at $50.81 per share,1,596 shares were sold. As a result of this transaction, SCHNEIDER ANDREA L now holds 15,747 shares worth roughly $ 0.75 million.

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Then, HARRISON ANDREW R sold 3,275 shares, generating $150,332 in total proceeds. Upon selling the shares at $45.90, the EVP AND CCO now owns 10,877 shares.

Before that, HARRISON ANDREW R sold 2,267 shares. Alaska Air Group Inc. shares valued at $100,037 were divested by the EVP AND CCO at a price of $44.13 per share. As a result of the transaction, HARRISON ANDREW R now holds 14,152 shares, worth roughly $0.68 million.

Wolfe Research downgraded its Alaska Air Group Inc. [ALK] rating to a Peer perform from a an Outperform in a research note published on Monday. Citigroup began covering ALK with “Buy” recommendation on December 05, 2022. Raymond James revised its rating on June 23, 2022. It rated ALK as “an Outperform” which previously was an “a Strong buy”.

Price Performance Review of ALK

On Monday, Alaska Air Group Inc. [NYSE:ALK] saw its stock jump 1.31% to $47.92. On the same session, the stock had its day’s lowest price of $47.72, but rose to a high of $48.369. Over the last five days, the stock has lost -2.38%. Alaska Air Group Inc. shares have risen nearly 11.60% since the year began. Nevertheless, the stocks have fallen -14.73% over the past one year. While a 52-week high of $61.55 was reached on 02/03/23, a 52-week low of $38.19 was recorded on 01/03/23. SMA at 50 days reached $47.82, while 200 days put it at $45.07. A total of 1.42 million shares were traded, compared to the trading of 0.76 million shares in the previous session.

Levels Of Support And Resistance For ALK Stock

The 24-hour chart illustrates a support level at 47.64, which if violated will result in even more drops to 47.35. On the upside, there is a resistance level at 48.29. A further resistance level may holdings at 48.65. The Relative Strength Index (RSI) on the 14-day chart is 42.76, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.72, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 73.21%. Stochastics %K at 16.38% indicates the stock is a buying.

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 Jan 30, 2023, growing by 90000.0 shares to a total of 4.23 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 4.14 million shares. There was a rise of 2.13%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.74% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.73.

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 14,189,455 shares, or roughly 11.19% of the outstanding ALK shares. In other words, the investor’s shares have risen by 235,882 from its previous 13-F filing of 13953573.0. Additionally, Victory Capital Management, Inc. increased 7.53% of its stake after which the total value it holdings stand at $357,106,254, while BlackRock Fund Advisors added 2.20% of its stake to hold $308.17 million in the firm. Over the last quarter, PRIMECAP Management Co. sold -169,200 shares of Alaska Air Group Inc., while SSgA Funds Management, Inc. sold 52,775 shares. At present, Dimensional Fund Advisors LP is holding 3,611,712 shares valued at $185.43 million. AllianceBernstein LP owned 3,425,916 shares of the company at the time of its most recent 13F filing, worth $175.89 million.

According to FactSet, Alaska Air Group Inc.’s share price will average $65.27 in the next year, based on opinions of analysts polled by the firm. This is up nearly 26.85 percent from its previous closing price of $47.30. Analysts expect Alaska Air Group Inc. stock to reach the higher price of $91.00, while the lowest price estimate is $54.00. However, 15 analysts have rated ALK stock as a Buy in their predictions for 2023.


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