Global Financial Private Capital LLC acquired a new position in Alaska Air Group, Inc. (NYSE:ALK) during the first quarter, Holdings Channel reports. The firm acquired 23,504 shares of the transportation company’s stock, valued at approximately $2,168,000.
Several other large investors also recently modified their holdings of the company. Bessemer Group Inc. increased its position in Alaska Air Group by 10.2% in the fourth quarter. Bessemer Group Inc. now owns 1,358 shares of the transportation company’s stock worth $121,000 after buying an additional 126 shares during the period. Northwest Quadrant Wealth Management LLC acquired a new position in Alaska Air Group during the fourth quarter worth $157,000. Twin Tree Management LP acquired a new position in Alaska Air Group during the first quarter worth $179,000. Assetmark Inc. increased its position in Alaska Air Group by 70.3% in the first quarter. Assetmark Inc. now owns 2,027 shares of the transportation company’s stock worth $187,000 after buying an additional 837 shares during the period. Finally, Private Advisor Group LLC acquired a new position in Alaska Air Group during the first quarter worth $216,000. Institutional investors and hedge funds own 89.01% of the company’s stock.
Shares of Alaska Air Group, Inc. (ALK) traded up 0.06% during mid-day trading on Friday, hitting $90.59. 521,674 shares of the company traded hands. The firm has a 50-day moving average of $86.39 and a 200-day moving average of $90.34. The stock has a market capitalization of $11.20 billion, a price-to-earnings ratio of 15.43 and a beta of 0.80. Alaska Air Group, Inc. has a one year low of $54.51 and a one year high of $101.43.
Alaska Air Group (NYSE:ALK) last issued its earnings results on Wednesday, April 26th. The transportation company reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.01. Alaska Air Group had a return on equity of 13.36% and a net margin of 5.66%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the firm earned $1.45 EPS. Alaska Air Group’s revenue was up 29.8% on a year-over-year basis. On average, equities analysts predict that Alaska Air Group, Inc. will post $7.93 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 8th. Shareholders of record on Tuesday, May 23rd were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend was Friday, May 19th. Alaska Air Group’s dividend payout ratio (DPR) is 16.79%.
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A number of research analysts recently weighed in on ALK shares. Cowen and Company raised shares of Alaska Air Group from a “market perform” rating to an “outperform” rating and raised their target price for the company from $102.00 to $103.00 in a research report on Monday, April 24th. Morgan Stanley reissued an “overweight” rating and issued a $113.00 price objective on shares of Alaska Air Group in a research report on Wednesday, February 22nd. Imperial Capital decreased their price objective on shares of Alaska Air Group from $101.00 to $98.00 and set an “in-line” rating for the company in a research report on Friday, March 31st. Stifel Nicolaus raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $105.00 to $145.00 in a research report on Monday, March 20th. Finally, Vetr raised shares of Alaska Air Group from a “hold” rating to a “strong-buy” rating and set a $124.48 price objective for the company in a research report on Monday, March 20th. Three research 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. The stock has a consensus rating of “Buy” and a consensus target price of $103.62.
In other Alaska Air Group news, Chairman Bradley D. Tilden sold 4,700 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $84.63, for a total transaction of $397,761.00. Following the completion of the sale, the chairman now directly owns 148,646 shares in the company, valued at approximately $12,579,910.98. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Bradley D. Tilden sold 5,600 shares of the business’s stock in a transaction dated Wednesday, April 5th. The shares were sold at an average price of $90.75, for a total value of $508,200.00. Following the sale, the chairman now owns 151,546 shares of the company’s stock, valued at $13,752,799.50. The disclosure for this sale can be found here. In the last three months, insiders sold 15,900 shares of company stock valued at $1,425,137. 0.68% of the stock is owned by insiders.
About Alaska Air Group
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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