Alaska Air Group, Inc. (NYSE:ALK) Holdings Cut by Eqis Capital Management Inc.

Eqis Capital Management Inc. lowered its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 4.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,259 shares of the transportation company’s stock after selling 344 shares during the period. Eqis Capital Management Inc.’s holdings in Alaska Air Group were worth $536,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Alaska Air Group by 1.4% in the second quarter. Vanguard Group Inc. now owns 12,985,616 shares of the transportation company’s stock worth $829,911,000 after acquiring an additional 180,250 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Alaska Air Group by 1.5% during the second quarter. BlackRock Inc. now owns 7,067,885 shares of the transportation company’s stock valued at $451,708,000 after buying an additional 103,191 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Alaska Air Group by 63.7% during the second quarter. Victory Capital Management Inc. now owns 3,186,584 shares of the transportation company’s stock valued at $203,654,000 after buying an additional 1,239,517 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Alaska Air Group by 0.9% during the third quarter. Diamond Hill Capital Management Inc. now owns 2,099,037 shares of the transportation company’s stock valued at $136,248,000 after buying an additional 19,559 shares during the last quarter. Finally, Parnassus Investments CA raised its holdings in shares of Alaska Air Group by 131.3% during the third quarter. Parnassus Investments CA now owns 1,850,000 shares of the transportation company’s stock valued at $120,084,000 after buying an additional 1,050,000 shares during the last quarter. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CFO Brandon Pedersen sold 3,830 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $71.00, for a total transaction of $271,930.00. Following the transaction, the chief financial officer now owns 23,830 shares in the company, valued at $1,691,930. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Andrea L. Schneider sold 1,450 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $70.28, for a total transaction of $101,906.00. Following the transaction, the vice president now owns 10,268 shares in the company, valued at approximately $721,635.04. The disclosure for this sale can be found here. Insiders have sold 10,804 shares of company stock worth $748,409 in the last quarter. Company insiders own 0.43% of the company’s stock.

NYSE ALK opened at $70.41 on Friday. Alaska Air Group, Inc. has a 12 month low of $53.39 and a 12 month high of $74.83. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.66 and a quick ratio of 0.64. The firm has a market capitalization of $8.73 billion, a PE ratio of 12.39, a P/E/G ratio of 0.57 and a beta of 0.82. The company’s 50 day simple moving average is $67.63 and its 200 day simple moving average is $63.59.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, October 24th. The transportation company reported $2.63 EPS for the quarter, beating the Zacks’ consensus estimate of $2.52 by $0.11. Alaska Air Group had a net margin of 7.09% and a return on equity of 18.06%. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same quarter last year, the business earned $1.91 earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. Sell-side analysts anticipate that Alaska Air Group, Inc. will post 6.34 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Tuesday, November 19th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.99%. Alaska Air Group’s dividend payout ratio is presently 31.39%.

A number of equities research analysts have recently weighed in on the company. Imperial Capital reaffirmed 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. Morgan Stanley reaffirmed an “overweight” rating and set a $80.00 price target (up previously from $76.00) on shares of Alaska Air Group in a report on Monday. Cowen lifted their price target on Alaska Air Group from $75.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Raymond James lifted their price target on Alaska Air Group from $76.00 to $80.00 and gave the company a “strong-buy” rating in a report on Friday, October 25th. Finally, ValuEngine raised Alaska Air Group from a “sell” rating to a “hold” rating in a report on Thursday. Ten investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. Alaska Air Group currently has an average rating of “Buy” and an average target price of $73.07.

Alaska Air Group Company 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.

Featured Article: Treasury Bonds

Want to see what other hedge funds are holding ALK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alaska Air Group, Inc. (NYSE:ALK).

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

Receive News & Ratings for Alaska Air Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alaska Air Group and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit