Alaska Air Group, Inc. (ALK) Position Reduced by Rhumbline Advisers

Rhumbline Advisers lessened its stake in Alaska Air Group, Inc. (NYSE:ALK) by 2.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 230,509 shares of the transportation company’s stock after selling 4,741 shares during the quarter. Rhumbline Advisers owned about 0.19% of Alaska Air Group worth $17,581,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Toronto Dominion Bank increased its holdings in shares of Alaska Air Group by 3.2% in the third quarter. Toronto Dominion Bank now owns 41,639 shares of the transportation company’s stock worth $3,176,000 after acquiring an additional 1,286 shares in the last quarter. New York State Common Retirement Fund increased its holdings in shares of Alaska Air Group by 1.8% in the third quarter. New York State Common Retirement Fund now owns 284,300 shares of the transportation company’s stock worth $21,684,000 after acquiring an additional 5,000 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Alaska Air Group by 24.9% in the third quarter. BNP Paribas Arbitrage SA now owns 126,995 shares of the transportation company’s stock worth $9,686,000 after acquiring an additional 25,330 shares in the last quarter. Courier Capital LLC bought a new stake in shares of Alaska Air Group in the third quarter worth about $237,000. Finally, Global X MANAGEMENT CO LLC increased its holdings in shares of Alaska Air Group by 13.3% in the third quarter. Global X MANAGEMENT CO LLC now owns 7,712 shares of the transportation company’s stock worth $588,000 after acquiring an additional 908 shares in the last quarter. Institutional investors and hedge funds own 88.37% of the company’s stock.

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Alaska Air Group, Inc. (NYSE:ALK) opened at $66.19 on Wednesday. Alaska Air Group, Inc. has a 52-week low of $61.10 and a 52-week high of $101.43. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $8,133.27, a P/E ratio of 8.98 and a beta of 1.01.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Wednesday, October 25th. The transportation company reported $2.24 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.02). The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.13 billion. Alaska Air Group had a net margin of 10.34% and a return on equity of 28.74%. The business’s revenue for the quarter was up 35.4% on a year-over-year basis. During the same period last year, the company posted $2.20 earnings per share. equities analysts predict that Alaska Air Group, Inc. will post 6.77 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Tuesday, November 21st will be given a dividend of $0.30 per share. The ex-dividend date is Monday, November 20th. This represents a $1.20 annualized dividend and a dividend yield of 1.81%. Alaska Air Group’s dividend payout ratio is currently 19.26%.

Several equities research analysts have issued reports on the company. Zacks Investment Research downgraded Alaska Air Group from a “buy” rating to a “hold” rating in a report on Friday, July 28th. BidaskClub downgraded Alaska Air Group from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Morgan Stanley lowered their price target on Alaska Air Group from $101.00 to $96.00 and set an “overweight” rating for the company in a report on Thursday, August 17th. Bank of America Corporation lowered their price target on Alaska Air Group from $100.00 to $96.00 and set a “buy” rating for the company in a report on Friday, October 13th. Finally, Cowen and Company lowered their price target on Alaska Air Group from $103.00 to $100.00 and set an “outperform” rating for the company in a report on Thursday, September 14th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company. Alaska Air Group presently has a consensus rating of “Buy” and an average price target of $91.27.

Alaska Air Group 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.

Institutional Ownership by Quarter for Alaska Air Group (NYSE:ALK)

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