Alaska Air Group, Inc. (NYSE:ALK) EVP Andrew R. Harrison sold 2,350 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $86.03, for a total transaction of $202,170.50. Following the sale, the executive vice president now directly owns 21,328 shares of the company’s stock, valued at $1,834,847.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Alaska Air Group, Inc. (ALK) opened at 78.45 on Friday. The firm has a market cap of $9.69 billion, a P/E ratio of 12.76 and a beta of 0.95. The stock’s 50 day moving average is $87.74 and its 200 day moving average is $90.13. Alaska Air Group, Inc. has a 12 month low of $64.19 and a 12 month high of $101.43.
Alaska Air Group (NYSE:ALK) last announced its earnings results on Wednesday, July 26th. The transportation company reported $2.51 EPS for the quarter, missing analysts’ consensus estimates of $2.52 by $0.01. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.10 billion. Alaska Air Group had a net margin of 11.02% and a return on equity of 30.04%. Alaska Air Group’s revenue was up 40.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.12 EPS. Equities research analysts expect that Alaska Air Group, Inc. will post $7.78 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Tuesday, August 22nd will be issued a $0.30 dividend. The ex-dividend date is Friday, August 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.53%. Alaska Air Group’s dividend payout ratio (DPR) is 19.48%.
Several large investors have recently added to or reduced their stakes in ALK. Mackenzie Financial Corp bought a new stake in Alaska Air Group during the first quarter worth approximately $64,763,000. BlackRock Inc. boosted its stake in Alaska Air Group by 4,899.5% in the first quarter. BlackRock Inc. now owns 6,979,699 shares of the transportation company’s stock valued at $643,668,000 after buying an additional 6,840,090 shares during the period. Egerton Capital UK LLP acquired a new stake in Alaska Air Group during the second quarter valued at approximately $265,002,000. Principal Financial Group Inc. boosted its stake in Alaska Air Group by 149.3% in the second quarter. Principal Financial Group Inc. now owns 1,230,588 shares of the transportation company’s stock valued at $110,457,000 after buying an additional 737,020 shares during the period. Finally, AGF Investments Inc. acquired a new stake in Alaska Air Group during the first quarter valued at approximately $67,733,000. 94.35% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on ALK. Morgan Stanley boosted their price objective on shares of Alaska Air Group from $102.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, April 28th. BidaskClub cut shares of Alaska Air Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Zacks Investment Research upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a report on Tuesday, July 4th. Cowen and Company raised shares of Alaska Air Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $102.00 to $103.00 in a research report on Monday, April 24th. Finally, Bank of America Corporation upped their price target on shares of Alaska Air Group from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $104.86.
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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