Russell Investments Group Ltd. Acquires 23,351 Shares of Alaska Air Group, Inc. (ALK)
Russell Investments Group Ltd. raised its stake in Alaska Air Group, Inc. (NYSE:ALK) by 25.6% during the second quarter, Holdings Channel reports. The firm owned 114,621 shares of the transportation company’s stock after buying an additional 23,351 shares during the period. Russell Investments Group Ltd.’s holdings in Alaska Air Group were worth $10,292,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the company. Breton Hill Capital Ltd. acquired a new stake in shares of Alaska Air Group during the first quarter valued at about $267,000. Schroder Investment Management Group boosted its stake in shares of Alaska Air Group by 84.1% in the first quarter. Schroder Investment Management Group now owns 547,645 shares of the transportation company’s stock valued at $51,292,000 after buying an additional 250,245 shares during the period. Two Sigma Securities LLC acquired a new stake in shares of Alaska Air Group during the first quarter valued at about $955,000. Oxford Asset Management acquired a new stake in shares of Alaska Air Group during the first quarter valued at about $3,425,000. Finally, Clearbridge Investments LLC boosted its stake in shares of Alaska Air Group by 1.6% in the first quarter. Clearbridge Investments LLC now owns 1,211,718 shares of the transportation company’s stock valued at $111,745,000 after buying an additional 18,600 shares during the period. 94.35% of the stock is currently owned by institutional investors.
Alaska Air Group, Inc. (ALK) traded down 1.69% on Tuesday, hitting $83.65. The stock had a trading volume of 633,562 shares. The stock’s 50 day moving average is $88.63 and its 200 day moving average is $90.44. The stock has a market cap of $10.33 billion, a price-to-earnings ratio of 13.60 and a beta of 0.95. Alaska Air Group, Inc. has a one year low of $64.19 and a one year high of $101.43.
Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $2.10 billion. Alaska Air Group had a net margin of 11.02% and a return on equity of 30.04%. The firm’s revenue was up 40.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.12 EPS. Analysts anticipate that Alaska Air Group, Inc. will post $7.87 earnings per share for the current year.
The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Friday, August 18th. Alaska Air Group’s payout ratio is currently 19.48%.
ILLEGAL ACTIVITY NOTICE: “Russell Investments Group Ltd. Acquires 23,351 Shares of Alaska Air Group, Inc. (ALK)” was first published by Daily Political and is owned by of Daily Political. If you are accessing this piece on another site, it was illegally copied and republished in violation of international copyright and trademark laws. The correct version of this piece can be read at https://www.dailypolitical.com/2017/08/15/russell-investments-group-ltd-acquires-23351-shares-of-alaska-air-group-inc-alk.html.
ALK has been the topic of several recent research reports. Cowen and Company raised shares of Alaska Air Group from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $102.00 to $103.00 in a research note on Monday, April 24th. BidaskClub cut shares of Alaska Air Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Morgan Stanley lifted their target price on shares of Alaska Air Group from $102.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, April 28th. Zacks Investment Research cut shares of Alaska Air Group from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $145.00 target price on shares of Alaska Air Group in a research note on Friday, May 26th. 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’s stock. The stock currently has an average rating of “Buy” and an average target price of $105.41.
In related news, Chairman Bradley D. Tilden sold 2,400 shares of the stock in a transaction on Tuesday, August 8th. The stock was 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 $12,045,897.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Joseph A. Sprague sold 7,000 shares of the stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $90.85, for a total value 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. In the last ninety days, insiders have sold 28,550 shares of company stock worth $2,547,642. Corporate insiders own 0.57% of the company’s stock.
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.
Want to see what other hedge funds are holding ALK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alaska Air Group, Inc. (NYSE:ALK).
Receive News & Ratings for Alaska Air Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alaska Air Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.