Alaska Air Group, Inc. (NYSE:ALK) Short Interest Update

Alaska Air Group, Inc. (NYSE:ALK) has experienced a notable rise in short interest over the month of October. As of October 15th, the total short interest reached 10,290,000 shares, which marks a 15.5% increase from 8,910,000 shares recorded on September 30th. With an average daily trading volume of 2,400,000 shares, the current short-interest ratio stands at 4.3 days.

Analysts Set New Price Targets

Several financial analysts have shared their insights regarding Alaska Air Group’s stock. Citigroup lowered its price target for the company from $51.00 to $48.00, maintaining a "buy" rating in their report issued on August 29th. In contrast, Susquehanna increased their target from $40.00 to $45.00 with a "neutral" rating as of October 9th. Additionally, Bank of America raised its target from $50.00 to $55.00, also giving it a "buy" rating on September 13th. On October 21st, Barclays began coverage of Alaska Air Group, offering an "overweight" rating with a price target set at $55.00. Melius also upgraded Alaska Air Group, changing their recommendation from a "hold" to a "buy," with a price target of $56.00. Currently, three analysts maintain a hold rating, while eleven suggest a buy rating for the stock. According to MarketBeat.com, the consensus rating for Alaska Air Group is "Moderate Buy," with an average price target of $54.17.

Hedge Funds Consider Alaska Air Group

In recent months, hedge funds and institutional investors have adjusted their positions in Alaska Air Group. Altshuler Shaham Ltd acquired a new stake during the 2nd quarter valued at $28,000. Pacifica Partners Inc. significantly increased its stake by 952.4% in the third quarter, now owning 1,105 shares valued at $50,000 after adding 1,000 shares last quarter. Canada Pension Plan Investment Board also bought a new stake worth approximately $69,000. Halpern Financial Inc. made a new investment in the 2nd quarter valued at around $81,000. Lastly, GAMMA Investing LLC increased its holdings by 31.7% during the same quarter, now owning 2,602 shares valued at $105,000 after an additional purchase of 626 shares. Notably, institutional investors and hedge funds hold about 81.90% of Alaska Air Group's stock.

Alaska Air Group Stock Performance

On Tuesday, Alaska Air Group's stock dipped by $0.38, bringing its trading price to $46.72. The trading volume reached 104,060 shares, low compared to the average of 2,256,518 shares. The stock has a fifty-day moving average of $41.17 and a two-hundred day moving average of $40.66. Over the past year, the stock has seen a low of $30.75 and a high of $47.45. Alaska Air Group has a market capitalization of $5.93 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 0.66, and a beta of 1.60. The company’s financial metrics include a current ratio of 0.68, a quick ratio of 0.66, and a debt-to-equity ratio of 0.55.

Alaska Air Group Company Overview

Alaska Air Group, Inc. operates airlines through its subsidiaries, divided into three segments: Mainline, Regional, and Horizon. The company provides scheduled air transportation services using Boeing jets for both passengers and cargo within the United States, as well as in parts of Canada, Mexico, Costa Rica, Belize, Guatemala, and the Bahamas. Additionally, it offers passenger services across a shorter distance network within the United States, Canada, and Mexico.

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