CrestPoint Capital Management LLC held its stake in Alaska Air Group, Inc. (NYSE:ALK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,100 shares of the transportation company’s stock at the end of the second quarter. CrestPoint Capital Management LLC’s holdings in Alaska Air Group were worth $907,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Breton Hill Capital Ltd. bought a new stake in shares of Alaska Air Group during the first quarter valued at $267,000. Norges Bank bought a new stake in shares of Alaska Air Group during the fourth quarter valued at $41,906,000. Schroder Investment Management Group increased its stake in shares of Alaska Air Group by 84.1% in the first quarter. Schroder Investment Management Group now owns 547,645 shares of the transportation company’s stock valued at $51,292,000 after buying an additional 250,245 shares during the last quarter. Two Sigma Securities LLC bought a new stake in shares of Alaska Air Group during the first quarter valued at $955,000. Finally, Oxford Asset Management bought a new stake in shares of Alaska Air Group during the first quarter valued at $3,425,000. Institutional investors own 93.43% of the company’s stock.
Alaska Air Group, Inc. (ALK) traded up 0.81% during midday trading on Friday, hitting $84.47. The stock had a trading volume of 1,137,003 shares. The stock has a market cap of $10.43 billion, a PE ratio of 13.74 and a beta of 0.95. Alaska Air Group, Inc. has a 52-week low of $64.19 and a 52-week high of $101.43. The company’s 50 day moving average price is $88.82 and its 200-day moving average price is $90.55.
Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.52 by $0.01. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.10 billion. Alaska Air Group had a return on equity of 30.04% and a net margin of 11.02%. The company’s revenue was up 40.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.12 earnings per share. Analysts forecast that Alaska Air Group, Inc. will post $7.87 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Tuesday, August 22nd will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Friday, August 18th. Alaska Air Group’s payout ratio is 19.48%.
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Several analysts have weighed in on ALK shares. BidaskClub downgraded Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Morgan Stanley lowered their price objective on Alaska Air Group from $103.00 to $102.00 and set an “overweight” rating for the company in a research report on Monday, July 17th. Zacks Investment Research downgraded Alaska Air Group from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Cowen and Company restated a “market perform” rating and set a $102.00 target price on shares of Alaska Air Group in a report on Monday, April 17th. Finally, Bank of America Corporation upped their target price on Alaska Air Group from $115.00 to $120.00 and gave the company a “buy” rating in a report on Friday, June 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $105.41.
In related news, Chairman Bradley D. Tilden sold 4,700 shares of the business’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $84.63, for a total transaction of $397,761.00. Following the transaction, the chairman now directly owns 148,646 shares in the company, valued at approximately $12,579,910.98. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Bradley D. Tilden sold 2,400 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $85.83, for a total value of $205,992.00. Following the transaction, the chairman now owns 140,346 shares in the company, valued at $12,045,897.18. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,550 shares of company stock valued at $2,547,642. Corporate insiders own 0.57% of the company’s stock.
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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