Alaska Air Group Inc. (ALK) Shares Sold by Los Angeles Capital Management & Equity Research Inc.
Los Angeles Capital Management & Equity Research Inc. reduced its stake in shares of Alaska Air Group Inc. (NYSE:ALK) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,534 shares of the company’s stock after selling 20 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Alaska Air Group were worth $614,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Acrospire Investment Management LLC acquired a new stake in shares of Alaska Air Group during the first quarter valued at approximately $107,000. IFP Advisors Inc raised its stake in shares of Alaska Air Group by 21.9% in the first quarter. IFP Advisors Inc now owns 2,243 shares of the company’s stock valued at $184,000 after buying an additional 403 shares during the last quarter. Bancorpsouth Inc. acquired a new stake in shares of Alaska Air Group during the first quarter valued at approximately $203,000. Ifrah Financial Services Inc. raised its stake in shares of Alaska Air Group by 0.5% in the second quarter. Ifrah Financial Services Inc. now owns 3,551 shares of the company’s stock valued at $207,000 after buying an additional 18 shares during the last quarter. Finally, Boston Private Wealth LLC raised its stake in shares of Alaska Air Group by 0.7% in the second quarter. Boston Private Wealth LLC now owns 3,622 shares of the company’s stock valued at $211,000 after buying an additional 26 shares during the last quarter. 88.73% of the stock is currently owned by institutional investors.
Alaska Air Group Inc. (NYSE:ALK) traded down 0.48% during midday trading on Thursday, reaching $66.38. The company’s stock had a trading volume of 1,373,676 shares. The firm has a market cap of $8.17 billion, a price-to-earnings ratio of 9.19 and a beta of 0.85. Alaska Air Group Inc. has a 1-year low of $54.51 and a 1-year high of $87.17. The company has a 50 day moving average price of $67.10 and a 200 day moving average price of $69.18.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Thursday, July 21st. The company reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.03. Alaska Air Group had a return on equity of 36.88% and a net margin of 15.86%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the company posted $1.76 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities research analysts expect that Alaska Air Group Inc. will post $7.05 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Thursday, August 18th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Tuesday, August 16th. Alaska Air Group’s dividend payout ratio (DPR) is currently 15.26%.
Several analysts have commented on the company. Morgan Stanley reissued a “buy” rating and issued a $85.00 price objective on shares of Alaska Air Group in a report on Thursday, August 11th. Vetr raised Alaska Air Group from a “buy” rating to a “strong-buy” rating and set a $81.75 price objective on the stock in a report on Wednesday, September 7th. Credit Suisse Group AG set a $85.00 target price on Alaska Air Group and gave the company a “buy” rating in a research report on Tuesday, September 13th. JPMorgan Chase & Co. upgraded Alaska Air Group from a “neutral” rating to an “overweight” rating and set a $78.50 target price on the stock in a research report on Wednesday, July 27th. Finally, Zacks Investment Research downgraded Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Wednesday, June 22nd. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Alaska Air Group currently has an average rating of “Buy” and an average target price of $87.52.
In related news, CEO Bradley D. Tilden sold 4,000 shares of the stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $63.84, for a total value of $255,360.00. Following the transaction, the chief executive officer now directly owns 23,900 shares of the company’s stock, valued at approximately $1,525,776. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Tamara S. Young sold 2,000 shares of the stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $67.37, for a total value of $134,740.00. Following the completion of the transaction, the vice president now directly owns 3,490 shares in the company, valued at $235,121.30. The disclosure for this sale can be found here. 0.68% of the stock is owned by corporate insiders.
About Alaska Air Group
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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