Redmond Asset Management LLC Boosts Position in Alaska Air Group, Inc. (ALK)

Redmond Asset Management LLC increased its stake in Alaska Air Group, Inc. (NYSE:ALK) by 7.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,494 shares of the transportation company’s stock after purchasing an additional 1,656 shares during the quarter. Redmond Asset Management LLC’s holdings in Alaska Air Group were worth $1,654,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Exane Derivatives bought a new stake in Alaska Air Group during the 4th quarter valued at $105,000. Mercer Capital Advisers Inc. bought a new stake in Alaska Air Group during the 3rd quarter valued at $116,000. Mountain Capital Investment Advisors Inc bought a new stake in Alaska Air Group during the 2nd quarter valued at $122,000. Bank of Nova Scotia Trust Co. bought a new stake in Alaska Air Group during the 3rd quarter valued at $153,000. Finally, Harbour Capital Advisors LLC bought a new stake in Alaska Air Group during the 3rd quarter valued at $200,000. 88.27% of the stock is currently owned by institutional investors.

In related news, EVP Andrew R. Harrison sold 540 shares of the company’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $65.53, for a total value of $35,386.20. Following the completion of the transaction, the executive vice president now directly owns 20,788 shares in the company, valued at $1,362,237.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David L. Campbell sold 4,934 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $68.00, for a total transaction of $335,512.00. Following the completion of the transaction, the chief executive officer now owns 9,648 shares of the company’s stock, valued at $656,064. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.

A number of brokerages have issued reports on ALK. Imperial Capital reissued an “in-line” rating and set a $66.00 target price (down previously from $70.00) on shares of Alaska Air Group in a report on Thursday. Buckingham Research decreased their price target on shares of Alaska Air Group from $90.00 to $88.00 and set a “buy” rating on the stock in a report on Friday, January 26th. JPMorgan Chase & Co. cut shares of Alaska Air Group from a “neutral” rating to an “underweight” rating and upped their price target for the stock from $65.48 to $67.00 in a report on Tuesday, January 30th. Morgan Stanley decreased their price target on shares of Alaska Air Group from $86.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, January 26th. Finally, Cowen reaffirmed an “outperform” rating and issued a $84.00 price target (down previously from $93.00) on shares of Alaska Air Group in a report on Friday, January 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and three have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $87.68.

Alaska Air Group, Inc. (NYSE:ALK) opened at $64.56 on Friday. The firm has a market cap of $7,944.82, a price-to-earnings ratio of 7.80, a PEG ratio of 3.27 and a beta of 0.85. Alaska Air Group, Inc. has a 1-year low of $59.25 and a 1-year high of $101.43. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.78.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, January 25th. The transportation company reported $0.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.83. Alaska Air Group had a net margin of 12.96% and a return on equity of 24.40%. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the business earned $1.56 earnings per share. The firm’s quarterly revenue was up 28.7% compared to the same quarter last year. research analysts expect that Alaska Air Group, Inc. will post 5.73 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Tuesday, February 20th will be given a $0.32 dividend. The ex-dividend date is Friday, February 16th. This is a positive change from Alaska Air Group’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a yield of 1.98%. Alaska Air Group’s payout ratio is 14.49%.

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

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