Traders Sell Shares of Alaska Air Group Inc. (ALK) on Strength (ALK)
Traders sold shares of Alaska Air Group Inc. (NYSE:ALK) on strength during trading hours on Thursday. $18.55 million flowed into the stock on the tick-up and $55.37 million flowed out of the stock on the tick-down, for a money net flow of $36.82 million out of the stock. Of all equities tracked, Alaska Air Group had the 0th highest net out-flow for the day. Alaska Air Group traded up $0.35 for the day and closed at $67.70
ALK has been the topic of several analyst reports. Cowen and Company reissued a “buy” rating on shares of Alaska Air Group in a report on Wednesday, June 15th. Zacks Investment Research raised Alaska Air Group from a “sell” rating to a “hold” rating in a research note on Tuesday. Sterne Agee CRT reaffirmed a “buy” rating on shares of Alaska Air Group in a research note on Monday, May 16th. Raymond James Financial Inc. lowered Alaska Air Group from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $105.00 to $88.00 in a research note on Tuesday, June 14th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Alaska Air Group in a research note on Wednesday, June 15th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $88.23.
The stock has a 50-day moving average price of $64.53 and a 200 day moving average price of $69.74. The company has a market capitalization of $8.26 billion and a P/E ratio of 9.29.
Alaska Air Group (NYSE:ALK) last posted its earnings results on Thursday, July 21st. The company reported $2.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.09 by $0.03. During the same quarter in the previous year, the firm earned $1.76 earnings per share. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Alaska Air Group’s quarterly revenue was up 4.0% compared to the same quarter last year. Analysts predict that Alaska Air Group Inc. will post $7.03 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Thursday, August 18th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Tuesday, August 16th.
In related news, CEO Bradley D. Tilden sold 5,000 shares of the business’s stock in a transaction dated Tuesday, June 21st. The stock was sold at an average price of $60.11, for a total transaction of $300,550.00. Following the completion of the transaction, the chief executive officer now directly owns 23,900 shares in the company, valued at $1,436,629. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Tamara S. Young sold 1,859 shares of the business’s stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $66.77, for a total value of $124,125.43. Following the transaction, the vice president now owns 3,490 shares of the company’s stock, valued at $233,027.30. The disclosure for this sale can be found here.
Other institutional investors have recently bought and sold shares of the company. Airain ltd purchased a new position in Alaska Air Group during the fourth quarter worth about $1,328,000. KBC Group NV boosted its position in Alaska Air Group by 57.5% in the fourth quarter. KBC Group NV now owns 35,601 shares of the company’s stock worth $2,866,000 after buying an additional 12,994 shares during the last quarter. State of Tennessee Treasury Department boosted its position in Alaska Air Group by 22.6% in the fourth quarter. State of Tennessee Treasury Department now owns 379,330 shares of the company’s stock worth $30,540,000 after buying an additional 70,000 shares during the last quarter. US Bancorp DE boosted its position in Alaska Air Group by 28.9% in the fourth quarter. US Bancorp DE now owns 17,867 shares of the company’s stock worth $1,438,000 after buying an additional 4,011 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in Alaska Air Group by 43.7% in the fourth quarter. Advisors Asset Management Inc. now owns 37,607 shares of the company’s stock worth $3,028,000 after buying an additional 11,440 shares during the last quarter.
Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska) and Horizon Air (Horizon). The Company operates through three segments: Alaska Mainline, Alaska Regional and Horizon. Its Alaska Mainline segment operates the Boeing 737 part of Alaska’s business. It offers north/south service within the western United States, Canada, Mexico and Costa Rica, as well as passenger and dedicated cargo services to and within the state of Alaska.
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