Tanaka Capital Management Inc. Has $1.78 Million Holdings in Alaska Air Group, Inc. (ALK)
Tanaka Capital Management Inc. lowered its position in Alaska Air Group, Inc. (NYSE:ALK) by 0.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,832 shares of the transportation company’s stock after selling 166 shares during the quarter. Alaska Air Group accounts for about 4.1% of Tanaka Capital Management Inc.’s holdings, making the stock its 8th largest position. Tanaka Capital Management Inc.’s holdings in Alaska Air Group were worth $1,780,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Bessemer Group Inc. lifted its position in shares of Alaska Air Group by 57.9% in the 2nd quarter. Bessemer Group Inc. now owns 1,895 shares of the transportation company’s stock worth $171,000 after acquiring an additional 695 shares during the period. Rehmann Capital Advisory Group bought a new stake in shares of Alaska Air Group in the 2nd quarter worth approximately $201,000. Insight Capital Research & Management Inc. bought a new stake in shares of Alaska Air Group in the 2nd quarter worth approximately $215,000. Smithfield Trust Co. lifted its position in shares of Alaska Air Group by 8.6% in the 2nd quarter. Smithfield Trust Co. now owns 2,391 shares of the transportation company’s stock worth $215,000 after acquiring an additional 189 shares during the period. Finally, Pacer Advisors Inc. lifted its position in shares of Alaska Air Group by 8.1% in the 2nd quarter. Pacer Advisors Inc. now owns 2,405 shares of the transportation company’s stock worth $216,000 after acquiring an additional 181 shares during the period. Institutional investors own 87.77% of the company’s stock.
Alaska Air Group, Inc. (NYSE:ALK) traded down 1.44% during midday trading on Thursday, reaching $80.35. The company had a trading volume of 1,642,771 shares. The firm has a 50-day moving average of $75.87 and a 200-day moving average of $84.80. The stock has a market cap of $9.93 billion, a P/E ratio of 13.07 and a beta of 0.99. Alaska Air Group, Inc. has a 12 month low of $69.11 and a 12 month high of $101.43.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.52 by ($0.01). Alaska Air Group had a net margin of 11.02% and a return on equity of 30.04%. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter last year, the firm posted $2.12 earnings per share. The company’s quarterly revenue was up 40.7% on a year-over-year basis. On average, equities analysts expect that Alaska Air Group, Inc. will post $7.49 EPS for the current fiscal year.
In other Alaska Air Group news, EVP Andrew R. Harrison sold 2,350 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $86.03, for a total transaction of $202,170.50. Following the completion of the sale, the executive vice president now directly owns 21,328 shares in the company, valued at $1,834,847.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Bradley D. Tilden sold 2,400 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $85.83, for a total value 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 disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.
ALK has been the subject of a number of recent research reports. Cowen and Company reissued an “outperform” rating and issued a $103.00 target price on shares of Alaska Air Group in a report on Tuesday, June 20th. BidaskClub cut Alaska Air Group from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Bank of America Corporation increased their target price on Alaska Air Group from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, June 30th. Zacks Investment Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a report on Tuesday, July 4th. Finally, Morgan Stanley dropped their target price on Alaska Air Group from $103.00 to $102.00 and set an “overweight” rating for the company in a report on Monday, July 17th. Two analysts have rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $103.59.
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Alaska Air Group 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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