Dana Investment Advisors Inc. lifted its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 9.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 356,487 shares of the transportation company’s stock after buying an additional 31,717 shares during the period. Dana Investment Advisors Inc. owned about 0.29% of Alaska Air Group worth $27,189,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. Afam Capital Inc. increased its stake in Alaska Air Group by 13.1% in the 3rd quarter. Afam Capital Inc. now owns 13,661 shares of the transportation company’s stock valued at $1,042,000 after purchasing an additional 1,585 shares in the last quarter. Virtu Financial LLC purchased a new position in Alaska Air Group in the 3rd quarter valued at approximately $215,000. Janney Montgomery Scott LLC increased its stake in Alaska Air Group by 28.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 4,387 shares of the transportation company’s stock valued at $335,000 after purchasing an additional 959 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in Alaska Air Group by 101.1% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 21,192 shares of the transportation company’s stock valued at $1,617,000 after purchasing an additional 10,652 shares in the last quarter. Finally, U S Global Investors Inc. increased its stake in Alaska Air Group by 16.1% in the 3rd quarter. U S Global Investors Inc. now owns 62,850 shares of the transportation company’s stock valued at $4,790,000 after purchasing an additional 8,738 shares in the last quarter. 88.69% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Andrew R. Harrison sold 540 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $65.53, for a total transaction of $35,386.20. Following the sale, the executive vice president now owns 20,788 shares in the company, valued at $1,362,237.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David L. Campbell sold 4,934 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $68.00, for a total value of $335,512.00. Following the sale, the chief executive officer now owns 9,648 shares in the company, valued at approximately $656,064. The disclosure for this sale can be found here. 0.57% of the stock is owned by company insiders.
Shares of Alaska Air Group, Inc. (NYSE:ALK) opened at $69.80 on Wednesday. The company has a market capitalization of $8,578.69, a price-to-earnings ratio of 9.47 and a beta of 1.03. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 0.68. Alaska Air Group, Inc. has a fifty-two week low of $61.10 and a fifty-two week high of $101.43.
Alaska Air Group (NYSE:ALK) last announced its earnings results on Wednesday, October 25th. The transportation company reported $2.24 EPS for the quarter, missing analysts’ consensus estimates 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%. Alaska Air Group’s quarterly revenue was up 35.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.20 EPS. equities research analysts forecast that Alaska Air Group, Inc. will post 6.75 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 7th. Shareholders of record on Tuesday, November 21st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend was Monday, November 20th. Alaska Air Group’s dividend payout ratio (DPR) is presently 19.26%.
Several equities analysts recently weighed in on ALK shares. Bank of America dropped their price objective on Alaska Air Group from $100.00 to $96.00 and set a “buy” rating for the company in a research note on Friday, October 13th. Morgan Stanley reaffirmed an “overweight” rating on shares of Alaska Air Group in a research note on Monday, September 18th. Stifel Nicolaus dropped their price objective on Alaska Air Group from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. Macquarie started coverage on Alaska Air Group in a research note on Monday, September 25th. They issued an “outperform” rating and a $94.00 price objective for the company. Finally, Raymond James Financial raised Alaska Air Group from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the company from $85.00 to $80.00 in a research note on Wednesday, November 15th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the stock. Alaska Air Group presently has an average rating of “Buy” and a consensus target price of $91.27.
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About Alaska Air Group
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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