L & S Advisors Inc Takes Position in Alaska Air Group, Inc. (NYSE:ALK)

L & S Advisors Inc acquired a new stake in Alaska Air Group, Inc. (NYSE:ALK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 38,436 shares of the transportation company’s stock, valued at approximately $2,456,000.

Other hedge funds also recently modified their holdings of the company. TRUE Private Wealth Advisors acquired a new position in shares of Alaska Air Group in the 2nd quarter valued at about $25,000. Icon Wealth Partners LLC acquired a new position in shares of Alaska Air Group in the 1st quarter valued at about $36,000. NuWave Investment Management LLC acquired a new position in shares of Alaska Air Group in the 2nd quarter valued at about $45,000. Sandy Spring Bank lifted its holdings in shares of Alaska Air Group by 58.8% in the 1st quarter. Sandy Spring Bank now owns 794 shares of the transportation company’s stock valued at $45,000 after buying an additional 294 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Alaska Air Group in the 2nd quarter valued at about $64,000. 88.45% of the stock is owned by institutional investors and hedge funds.

In other Alaska Air Group news, VP Kyle B. Levine sold 2,430 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total transaction of $157,950.00. Following the completion of the transaction, the vice president now owns 8,039 shares of the company’s stock, valued at $522,535. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.43% of the stock is owned by corporate insiders.

A number of equities analysts recently weighed in on ALK shares. Citigroup set a $66.00 price target on Alaska Air Group and gave the stock a “hold” rating in a report on Friday, July 26th. TheStreet raised Alaska Air Group from a “c” rating to a “b” rating in a report on Thursday, July 25th. Macquarie cut Alaska Air Group from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $79.00 to $63.00 in a report on Monday, July 29th. Imperial Capital reaffirmed an “in-line” rating and issued a $70.00 price target (up previously from $68.00) on shares of Alaska Air Group in a report on Tuesday, August 6th. Finally, Morgan Stanley upped their price target on Alaska Air Group from $76.00 to $81.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $73.36.

Shares of Alaska Air Group stock traded up $0.15 during mid-day trading on Friday, reaching $65.83. 51,190 shares of the stock traded hands, compared to its average volume of 970,817. The business has a 50-day moving average of $61.88 and a 200 day moving average of $60.81. Alaska Air Group, Inc. has a fifty-two week low of $53.39 and a fifty-two week high of $74.83. The stock has a market capitalization of $8.01 billion, a PE ratio of 14.76, a PEG ratio of 0.51 and a beta of 0.86. The company has a quick ratio of 0.61, a current ratio of 0.63 and a debt-to-equity ratio of 0.75.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, July 25th. The transportation company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.11 by $0.06. Alaska Air Group had a return on equity of 16.28% and a net margin of 6.00%. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the prior year, the firm earned $1.66 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts expect that Alaska Air Group, Inc. will post 5.91 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.35 per share. The ex-dividend date was Monday, August 19th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.13%. Alaska Air Group’s payout ratio is currently 31.39%.

About Alaska Air Group

Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 115 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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