Hennessy Advisors Inc. trimmed its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 7.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,000 shares of the transportation company’s stock after selling 1,600 shares during the quarter. Hennessy Advisors Inc.’s holdings in Alaska Air Group were worth $1,795,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Two Sigma Securities LLC acquired a new position in Alaska Air Group during the 1st quarter worth $955,000. Schroder Investment Management Group grew its stake in Alaska Air Group by 84.1% during the 1st quarter. Schroder Investment Management Group now owns 547,645 shares of the transportation company’s stock worth $51,292,000 after purchasing an additional 250,245 shares in the last quarter. Oxford Asset Management acquired a new position in Alaska Air Group during the 1st quarter worth $3,425,000. Principal Financial Group Inc. grew its stake in Alaska Air Group by 149.3% during the 2nd quarter. Principal Financial Group Inc. now owns 1,230,588 shares of the transportation company’s stock worth $110,457,000 after purchasing an additional 737,020 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in Alaska Air Group by 1.6% during the 1st quarter. Clearbridge Investments LLC now owns 1,211,718 shares of the transportation company’s stock worth $111,745,000 after purchasing an additional 18,600 shares in the last quarter. 88.34% of the stock is owned by hedge funds and other institutional investors.
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Several research analysts recently commented on the company. Stifel Nicolaus reissued a “buy” rating and set a $145.00 target price on shares of Alaska Air Group in a research note on Friday, May 26th. ValuEngine cut Alaska Air Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub cut Alaska Air Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Bank of America Corporation boosted their target price on 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 reissued an “outperform” rating and set a $103.00 target price on shares of Alaska Air Group in a research note on Tuesday, June 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Alaska Air Group currently has a consensus rating of “Buy” and a consensus price target of $104.86.
Alaska Air Group, Inc. (ALK) opened at 74.30 on Monday. The stock’s 50 day moving average price is $80.93 and its 200 day moving average price is $88.00. The firm has a market capitalization of $9.18 billion, a PE ratio of 12.08 and a beta of 1.00. Alaska Air Group, Inc. has a 52-week low of $64.19 and a 52-week 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. The business 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 quarter in the prior year, the business earned $2.12 earnings per share. Analysts expect that Alaska Air Group, Inc. will post $7.72 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Tuesday, August 22nd were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 18th. This represents a $1.20 annualized dividend and a dividend yield of 1.62%. Alaska Air Group’s dividend payout ratio is presently 19.48%.
In other news, EVP Andrew R. Harrison sold 2,350 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Bradley D. Tilden sold 6,500 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $88.72, for a total value of $576,680.00. Following the sale, the chairman now owns 148,446 shares of the company’s stock, valued at $13,170,129.12. The disclosure for this sale can be found here. Insiders have sold 16,850 shares of company stock valued at $1,513,931 over the last 90 days. 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.
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