Capstone Asset Management Co. lowered its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 6.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 9,284 shares of the transportation company’s stock after selling 660 shares during the period. Capstone Asset Management Co.’s holdings in Alaska Air Group were worth $833,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Parametrica Management Ltd bought a new position in shares of Alaska Air Group during the first quarter valued at approximately $621,000. Private Trust Co. NA bought a new position in shares of Alaska Air Group during the first quarter valued at approximately $505,000. CrestPoint Capital Management LLC boosted its position in shares of Alaska Air Group by 40.3% in the first quarter. CrestPoint Capital Management LLC now owns 10,100 shares of the transportation company’s stock valued at $931,000 after buying an additional 2,900 shares during the period. Regentatlantic Capital LLC boosted its position in shares of Alaska Air Group by 0.7% in the first quarter. Regentatlantic Capital LLC now owns 2,907 shares of the transportation company’s stock valued at $268,000 after buying an additional 20 shares during the period. Finally, Chevy Chase Trust Holdings Inc. boosted its position in shares of Alaska Air Group by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 106,920 shares of the transportation company’s stock valued at $9,860,000 after buying an additional 3,429 shares during the period. 94.35% of the stock is owned by hedge funds and other institutional investors.
Shares of Alaska Air Group, Inc. (ALK) traded down 1.59% during trading on Friday, hitting $78.45. The stock had a trading volume of 1,649,914 shares. Alaska Air Group, Inc. has a 52 week low of $64.19 and a 52 week high of $101.43. The company’s 50 day moving average price is $87.74 and its 200 day moving average price is $90.13. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of 12.76 and a beta of 0.95.
Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.51 EPS for the quarter, missing analysts’ consensus estimates of $2.52 by $0.01. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.10 billion. Alaska Air Group had a return on equity of 30.04% and a net margin of 11.02%. The company’s revenue for the quarter was up 40.7% compared to the same quarter last year. During the same period last year, the firm posted $2.12 EPS. Analysts predict that Alaska Air Group, Inc. will post $7.78 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Tuesday, August 22nd will be issued a $0.30 dividend. The ex-dividend date is Friday, August 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.53%. Alaska Air Group’s dividend payout ratio (DPR) is presently 19.48%.
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Several research analysts recently commented on the company. BidaskClub raised Alaska Air Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Morgan Stanley reduced their price target on Alaska Air Group from $103.00 to $102.00 and set an “overweight” rating for the company in a research report on Monday, July 17th. Cowen and Company reissued an “outperform” rating and set a $103.00 price target on shares of Alaska Air Group in a research report on Tuesday, June 20th. Zacks Investment Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a research report on Tuesday, July 4th. Finally, Bank of America Corporation increased their price target on Alaska Air Group from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Alaska Air Group has an average rating of “Buy” and a consensus price target of $104.86.
In other Alaska Air Group news, Chairman Bradley D. Tilden sold 2,400 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $85.83, for a total transaction of $205,992.00. Following the sale, the chairman now owns 140,346 shares of the company’s stock, valued at approximately $12,045,897.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Joseph A. Sprague sold 7,000 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $90.85, for a total transaction of $635,950.00. Following the sale, the senior vice president now directly owns 7,191 shares in the company, valued at approximately $653,302.35. The disclosure for this sale can be found here. Insiders sold a total of 23,850 shares of company stock worth $2,149,881 in the last ninety days. 0.57% of the stock is currently owned by insiders.
Alaska Air Group Company Profile
Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska), Virgin America Inc, Horizon Air (Horizon) and other business units. The Company operates through three segments: Mainline, Regional and Horizon. Its Mainline segment includes Alaska’s and Virgin America’s scheduled air transportation for passengers and cargo throughout the United States, and in parts of Canada, Mexico, Costa Rica and Cuba.
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