Riverhead Capital Management LLC trimmed its stake in Alaska Air Group, Inc. (NYSE:ALK) by 24.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 56,463 shares of the transportation company’s stock after selling 18,146 shares during the quarter. Riverhead Capital Management LLC’s holdings in Alaska Air Group were worth $5,068,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Two Sigma Securities LLC acquired a new position in shares of Alaska Air Group in the 1st quarter worth $955,000. Schroder Investment Management Group grew its holdings in shares of Alaska Air Group by 84.1% in the 1st quarter. Schroder Investment Management Group now owns 547,645 shares of the transportation company’s stock worth $51,292,000 after acquiring an additional 250,245 shares during the last quarter. Oxford Asset Management acquired a new position in shares of Alaska Air Group in the 1st quarter worth $3,425,000. Principal Financial Group Inc. grew its holdings in shares of Alaska Air Group by 149.3% in the 2nd quarter. Principal Financial Group Inc. now owns 1,230,588 shares of the transportation company’s stock worth $110,457,000 after acquiring an additional 737,020 shares during the last quarter. Finally, Baltimore Capital Management Inc. grew its holdings in shares of Alaska Air Group by 505.0% in the 2nd quarter. Baltimore Capital Management Inc. now owns 38,570 shares of the transportation company’s stock worth $3,462,000 after acquiring an additional 32,195 shares during the last quarter. Institutional investors and hedge funds own 88.34% of the company’s stock.
Alaska Air Group, Inc. (NYSE ALK) traded down 0.03% during mid-day trading on Tuesday, reaching $75.57. The company had a trading volume of 114,502 shares. Alaska Air Group, Inc. has a 12 month low of $64.19 and a 12 month high of $101.43. The stock has a market cap of $9.33 billion, a PE ratio of 12.29 and a beta of 1.00. The firm’s 50-day moving average price is $80.71 and its 200-day moving average price is $87.82.
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 Zacks’ consensus estimate of $2.52 by $0.01. The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.10 billion. Alaska Air Group had a return on equity of 30.04% and a net margin of 11.02%. Alaska Air Group’s revenue for the quarter was up 40.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.12 earnings per share. Equities research analysts forecast that Alaska Air Group, Inc. will post $7.67 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Tuesday, August 22nd were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Friday, August 18th. Alaska Air Group’s payout ratio is presently 19.48%.
A number of equities analysts recently issued reports on ALK shares. Stifel Nicolaus restated a “buy” rating and issued a $145.00 target price on shares of Alaska Air Group in a report on Friday, May 26th. Cowen and Company restated 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 research report on Thursday, June 29th. Bank of America Corporation raised their target price on Alaska Air Group from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, June 30th. Finally, 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 research report on Tuesday, July 4th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Alaska Air Group presently has an average rating of “Buy” and an average target price of $104.86.
In related news, EVP Andrew R. Harrison sold 2,350 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $86.03, for a total value of $202,170.50. Following the completion of the transaction, the executive vice president now directly owns 21,328 shares of the company’s stock, valued at approximately $1,834,847.84. The sale was disclosed in a document filed with the SEC, which is available 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 transaction of $205,992.00. Following the completion of the transaction, the chairman now directly owns 140,346 shares of the company’s stock, valued at $12,045,897.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,350 shares of company stock valued at $937,251. Company insiders own 0.57% of the company’s stock.
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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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