Tealwood Asset Management Inc. Trims Position in Alaska Air Group, Inc. (NYSE:ALK)

Tealwood Asset Management Inc. cut its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 1.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 46,093 shares of the transportation company’s stock after selling 683 shares during the quarter. Tealwood Asset Management Inc.’s holdings in Alaska Air Group were worth $2,946,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Shilanski & Associates Inc. purchased a new position in Alaska Air Group in the 2nd quarter valued at $312,000. Brighton Jones LLC lifted its holdings in Alaska Air Group by 3.6% in the 2nd quarter. Brighton Jones LLC now owns 16,536 shares of the transportation company’s stock valued at $1,057,000 after purchasing an additional 569 shares in the last quarter. Securian Asset Management Inc lifted its holdings in Alaska Air Group by 1.4% in the 2nd quarter. Securian Asset Management Inc now owns 12,561 shares of the transportation company’s stock valued at $803,000 after purchasing an additional 171 shares in the last quarter. Usca Ria LLC purchased a new position in Alaska Air Group in the 2nd quarter valued at $1,740,000. Finally, Comerica Bank lifted its holdings in Alaska Air Group by 10.1% in the 2nd quarter. Comerica Bank now owns 101,381 shares of the transportation company’s stock valued at $6,466,000 after purchasing an additional 9,286 shares in the last quarter. 88.20% of the stock is owned by institutional investors.

Shares of Alaska Air Group stock traded down $0.05 on Thursday, reaching $59.76. 34,542 shares of the company were exchanged, compared to its average volume of 1,107,423. Alaska Air Group, Inc. has a 1-year low of $53.39 and a 1-year high of $74.83. The company has a market cap of $7.37 billion, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 0.48 and a beta of 0.86. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.63 and a quick ratio of 0.61. The stock’s 50 day moving average price is $63.21 and its 200-day moving average price is $61.27.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, July 25th. The transportation company reported $2.17 EPS for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.06. Alaska Air Group had a return on equity of 16.28% and a net margin of 6.00%. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the previous year, the company posted $1.66 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, research analysts predict that Alaska Air Group, Inc. will post 5.89 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Tuesday, August 20th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Monday, August 19th. Alaska Air Group’s dividend payout ratio is presently 31.39%.

ALK has been the topic of a number of research reports. TheStreet upgraded Alaska Air Group from a “c” rating to a “b” rating in a report on Thursday, July 25th. Deutsche Bank reduced their price target on Alaska Air Group from $73.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, April 26th. JPMorgan Chase & Co. upgraded Alaska Air Group from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $71.00 to $72.00 in a report on Tuesday, April 30th. Imperial Capital reiterated an “in-line” rating and set a $70.00 price target (up previously from $68.00) on shares of Alaska Air Group in a report on Tuesday, August 6th. Finally, ValuEngine lowered Alaska Air Group from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $73.36.

In related news, VP Kyle B. Levine sold 2,430 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total value of $157,950.00. Following the completion of the transaction, the vice president now directly owns 8,039 shares of the company’s stock, valued at $522,535. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.43% of the company’s stock.

Alaska Air Group Profile

Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 115 destinations across the United States, Mexico, Canada, and Costa Rica.

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

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