USA Financial Portformulas Corp cut its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 12.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,295 shares of the transportation company’s stock after selling 1,824 shares during the period. USA Financial Portformulas Corp’s holdings in Alaska Air Group were worth $1,193,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Alaska Air Group by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,183 shares of the transportation company’s stock worth $824,000 after purchasing an additional 24 shares in the last quarter. ING Groep NV lifted its holdings in Alaska Air Group by 0.5% in the 2nd quarter. ING Groep NV now owns 6,325 shares of the transportation company’s stock worth $568,000 after purchasing an additional 32 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Alaska Air Group by 0.4% in the 2nd quarter. CIBC Asset Management Inc now owns 11,691 shares of the transportation company’s stock worth $1,049,000 after purchasing an additional 44 shares in the last quarter. Cypress Wealth Advisors LLC lifted its holdings in Alaska Air Group by 1.3% in the 1st quarter. Cypress Wealth Advisors LLC now owns 3,571 shares of the transportation company’s stock worth $329,000 after purchasing an additional 45 shares in the last quarter. Finally, MML Investors Services LLC lifted its holdings in Alaska Air Group by 1.0% in the 2nd quarter. MML Investors Services LLC now owns 5,392 shares of the transportation company’s stock worth $484,000 after purchasing an additional 51 shares in the last quarter. 87.72% of the stock is currently owned by institutional investors.
Shares of Alaska Air Group, Inc. (ALK) traded up 0.66% during mid-day trading on Tuesday, hitting $81.00. The stock had a trading volume of 258,992 shares. The firm has a 50 day moving average of $76.26 and a 200-day moving average of $84.51. Alaska Air Group, Inc. has a one year low of $69.12 and a one year high of $101.43. The stock has a market cap of $10.01 billion, a P/E ratio of 13.17 and a beta of 0.99.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.52 by ($0.01). The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 40.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.12 earnings per share. Equities research analysts expect that Alaska Air Group, Inc. will post $7.43 earnings per share for the current fiscal year.
In other Alaska Air Group news, Chairman Bradley D. Tilden sold 2,400 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $85.83, for a total value of $205,992.00. Following the completion of the sale, the chairman now directly owns 140,346 shares in the company, valued at $12,045,897.18. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Andrew R. Harrison sold 2,350 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $86.03, for a total value of $202,170.50. Following the completion of the sale, the executive vice president now owns 21,328 shares of the company’s stock, valued at $1,834,847.84. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.
A number of research firms recently commented on ALK. BidaskClub raised Alaska Air Group from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Morgan Stanley lowered their price target on Alaska Air Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a report on Monday, July 17th. Cowen and Company reissued an “outperform” rating and issued a $103.00 price target on shares of Alaska Air Group in a report on Tuesday, June 20th. Zacks Investment Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a report on Tuesday, July 4th. Finally, Bank of America Corporation boosted their price target on Alaska Air Group from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, June 30th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $103.15.
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Alaska Air Group Company Profile
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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