Alaska Air Group, Inc. (ALK) Chairman Sells $205,992.00 in Stock
Alaska Air Group, Inc. (NYSE:ALK) Chairman Bradley D. Tilden sold 2,400 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $85.83, for a total transaction of $205,992.00. Following the completion of the transaction, the chairman now owns 140,346 shares in the company, valued at $12,045,897.18. The sale was disclosed in a filing with the SEC, which is available through this link.
Alaska Air Group, Inc. (ALK) traded down 0.95% during trading on Wednesday, hitting $84.34. 838,211 shares of the stock were exchanged. The stock’s 50 day moving average price is $89.59 and its 200 day moving average price is $90.87. The stock has a market cap of $10.42 billion, a P/E ratio of 13.72 and a beta of 0.95. Alaska Air Group, Inc. has a 12 month low of $64.19 and a 12 month high of $101.43.
Alaska Air Group (NYSE:ALK) last announced its earnings results on Wednesday, July 26th. The transportation company reported $2.51 earnings per share for the quarter, missing the consensus estimate of $2.52 by $0.01. Alaska Air Group had a return on equity of 30.04% and a net margin of 11.02%. The business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the previous year, the company earned $2.12 earnings per share. Alaska Air Group’s quarterly revenue was up 40.7% on a year-over-year basis. Analysts forecast that Alaska Air Group, Inc. will post $7.87 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Tuesday, August 22nd will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Friday, August 18th. Alaska Air Group’s payout ratio is currently 19.48%.
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Large investors have recently made changes to their positions in the company. Bessemer Group Inc. increased its stake in shares of Alaska Air Group by 57.9% in the second quarter. Bessemer Group Inc. now owns 1,895 shares of the transportation company’s stock valued at $171,000 after buying an additional 695 shares during the last quarter. Twin Tree Management LP acquired a new stake in shares of Alaska Air Group during the first quarter valued at $179,000. Assetmark Inc. increased its stake in shares of Alaska Air Group by 70.3% in the first quarter. Assetmark Inc. now owns 2,027 shares of the transportation company’s stock valued at $187,000 after buying an additional 837 shares during the last quarter. Rehmann Capital Advisory Group acquired a new stake in shares of Alaska Air Group during the second quarter valued at $201,000. Finally, Verity Asset Management Inc. acquired a new stake in shares of Alaska Air Group during the first quarter valued at $218,000. 93.43% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have commented on ALK. Zacks Investment Research downgraded shares of Alaska Air Group from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. BidaskClub downgraded shares of Alaska Air Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Morgan Stanley dropped their target price on shares of Alaska Air Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a research note on Monday, July 17th. Bank of America Corporation upped their target price on shares of Alaska Air Group from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, June 30th. Finally, Cowen and Company restated an “outperform” rating and issued a $103.00 target price on shares of Alaska Air Group in a research note on Tuesday, June 20th. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Alaska Air Group currently has an average rating of “Buy” and an average target price of $105.41.
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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