Janney Montgomery Scott LLC Has $1.25 Million Stake in Alaska Air Group, Inc. (ALK)

Janney Montgomery Scott LLC grew its stake in Alaska Air Group, Inc. (NYSE:ALK) by 35.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,675 shares of the transportation company’s stock after acquiring an additional 5,411 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Alaska Air Group were worth $1,249,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ALK. Wedge Capital Management L L P NC increased its holdings in shares of Alaska Air Group by 166.0% in the 1st quarter. Wedge Capital Management L L P NC now owns 1,335,938 shares of the transportation company’s stock valued at $82,775,000 after acquiring an additional 833,758 shares during the period. Ceredex Value Advisors LLC purchased a new position in shares of Alaska Air Group in the 1st quarter valued at $50,482,000. American Century Companies Inc. increased its holdings in shares of Alaska Air Group by 636.5% in the 1st quarter. American Century Companies Inc. now owns 813,683 shares of the transportation company’s stock valued at $50,416,000 after acquiring an additional 703,203 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Alaska Air Group by 102.0% in the 1st quarter. JPMorgan Chase & Co. now owns 697,647 shares of the transportation company’s stock valued at $43,226,000 after acquiring an additional 352,335 shares during the period. Finally, OppenheimerFunds Inc. increased its holdings in shares of Alaska Air Group by 15.5% in the 1st quarter. OppenheimerFunds Inc. now owns 1,801,328 shares of the transportation company’s stock valued at $111,609,000 after acquiring an additional 241,084 shares during the period. Institutional investors and hedge funds own 86.27% of the company’s stock.

Alaska Air Group opened at $63.75 on Friday, Marketbeat Ratings reports. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $7.87 billion, a PE ratio of 9.60, a price-to-earnings-growth ratio of 2.02 and a beta of 0.61. Alaska Air Group, Inc. has a 1-year low of $57.53 and a 1-year high of $85.70.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, July 26th. The transportation company reported $1.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.03. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Alaska Air Group had a return on equity of 16.99% and a net margin of 10.28%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.48 EPS. equities research analysts expect that Alaska Air Group, Inc. will post 4.2 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 6th. Stockholders of record on Tuesday, August 21st will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.01%. Alaska Air Group’s payout ratio is 19.28%.

ALK has been the topic of a number of analyst reports. Macquarie downgraded Alaska Air Group from an “outperform” rating to a “neutral” rating in a report on Monday, July 30th. Morgan Stanley lifted their price target on Alaska Air Group from $74.00 to $79.00 and gave the company an “overweight” rating in a report on Monday, April 16th. Citigroup lifted their price target on Alaska Air Group from $69.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, April 16th. Stifel Nicolaus reiterated a “buy” rating and issued a $110.00 price target on shares of Alaska Air Group in a report on Monday, April 23rd. Finally, Zacks Investment Research downgraded Alaska Air Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 10th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $78.77.

In other news, EVP Andrew R. Harrison sold 1,600 shares of the firm’s stock in a transaction on Friday, May 25th. The stock was sold at an average price of $61.87, for a total value of $98,992.00. Following the completion of the sale, the executive vice president now owns 22,492 shares of the company’s stock, valued at approximately $1,391,580.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is owned by company insiders.

Alaska Air Group Profile

Alaska Air Group, Inc, through its subsidiaries, provides passengers and cargo air transportation services. It also focuses on providing ground and ramp handling services to airlines. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 118 destinations across the United States, Mexico, Canada, and Costa Rica.

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Institutional Ownership by Quarter for Alaska Air Group (NYSE:ALK)

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