Massachusetts Financial Services Co. MA increased its position in Alaska Air Group, Inc. (NYSE:ALK) by 2.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 622,050 shares of the transportation company’s stock after buying an additional 14,202 shares during the period. Massachusetts Financial Services Co. MA owned 0.50% of Alaska Air Group worth $40,378,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of ALK. TRUE Private Wealth Advisors purchased a new stake in Alaska Air Group during the second quarter valued at approximately $25,000. Prime Capital Investment Advisors LLC purchased a new stake in Alaska Air Group during the third quarter valued at approximately $29,000. Point72 Hong Kong Ltd purchased a new stake in Alaska Air Group during the second quarter valued at approximately $29,000. NuWave Investment Management LLC bought a new position in shares of Alaska Air Group during the second quarter valued at approximately $45,000. Finally, Skandinaviska Enskilda Banken AB publ bought a new position in shares of Alaska Air Group during the second quarter valued at approximately $64,000. Institutional investors own 88.76% of the company’s stock.
In other Alaska Air Group news, EVP Shane R. Tackett sold 1,500 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $69.95, for a total transaction of $104,925.00. Following the sale, the executive vice president now owns 8,465 shares of the company’s stock, valued at approximately $592,126.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brandon Pedersen sold 4,024 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $67.01, for a total value of $269,648.24. Following the sale, the chief financial officer now owns 22,500 shares of the company’s stock, valued at approximately $1,507,725. The disclosure for this sale can be found here. Insiders have sold a total of 10,804 shares of company stock worth $748,409 in the last ninety days. Insiders own 0.43% of the company’s stock.
Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, October 24th. The transportation company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.11. The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Alaska Air Group had a return on equity of 18.06% and a net margin of 7.09%. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.91 EPS. On average, sell-side analysts anticipate that Alaska Air Group, Inc. will post 6.34 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.40 annualized dividend and a yield of 1.99%. Alaska Air Group’s dividend payout ratio (DPR) is presently 31.39%.
A number of research analysts have recently commented on ALK shares. Macquarie cut Alaska Air Group from an “outperform” rating to a “neutral” rating and cut their target price for the company from $79.00 to $63.00 in a research note on Monday, July 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $80.00 target price (up previously from $76.00) on shares of Alaska Air Group in a research note on Monday, November 11th. Citigroup set a $66.00 target price on Alaska Air Group and gave the company a “hold” rating in a research note on Friday, July 26th. Cowen upped their target price on Alaska Air Group from $75.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, ValuEngine raised Alaska Air Group from a “sell” rating to a “hold” rating in a research note on Thursday. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $72.92.
Alaska Air Group Profile
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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