Renaissance Technologies sold roughly 12% of its large stake in Alaska Air Group Inc. (NYSE:ALK), ending the first quarter with 6.82 million shares valued at $451.57 million. It seems that Renaissance Technologies has decided to cash out some of its stake in Alaska Air Group Inc. (NYSE:ALK) while its stock price is high, having already experienced attractive gains over the past year. Alaska Air Group delivered a strong financial performance during the most recent quarter, achieving revenue growth that slightly outperformed the airline industry average of approximately 0.9%. Also, the company's current debt-to-equity ratio amounts to 0.35, slightly below the industry average, which indicates that the company has effectively managed its debt levels. However, some other funds that decreased their stakes in Alaska Air Group Inc. (NYSE:ALK) during the first quarter include Alexander Roepers ' Atlantic Investment Management, as well as PAR Capital Management.