Prescott Group Capital Management L.L.C. Lowers Holdings in Alaska Air Group (ALK)

Prescott Group Capital Management L.L.C. lessened its position in shares of Alaska Air Group (NYSE:ALK) by 35.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,107 shares of the transportation company’s stock after selling 9,000 shares during the period. Prescott Group Capital Management L.L.C.’s holdings in Alaska Air Group were worth $998,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in Alaska Air Group by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 1,371,750 shares of the transportation company’s stock worth $100,681,000 after purchasing an additional 42,290 shares in the last quarter. Elkfork Partners LLC bought a new position in Alaska Air Group during the 4th quarter worth about $3,448,000. Bellwether Investment Group LLC bought a new position in Alaska Air Group during the 4th quarter worth about $252,000. Oppenheimer & Co. Inc. increased its holdings in Alaska Air Group by 57.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 12,881 shares of the transportation company’s stock worth $947,000 after purchasing an additional 4,699 shares in the last quarter. Finally, Mitchell Capital Management Co. bought a new position in Alaska Air Group during the 4th quarter worth about $255,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

In related news, VP Christopher Michael Berry sold 460 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $97.00, for a total value of $44,620.00. Following the completion of the sale, the vice president now directly owns 1,997 shares in the company, valued at approximately $193,709. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brandon Pedersen sold 2,700 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $65.14, for a total transaction of $175,878.00. Following the completion of the sale, the vice president now owns 26,888 shares of the company’s stock, valued at $1,751,484.32. The disclosure for this sale can be found here. Insiders sold a total of 13,373 shares of company stock valued at $884,697 over the last quarter. 0.57% of the stock is currently owned by company insiders.

ALK has been the subject of a number of research reports. Zacks Investment Research upgraded Alaska Air Group from a “sell” rating to a “hold” rating in a report on Tuesday, March 27th. Morgan Stanley increased their target price on Alaska Air Group from $74.00 to $79.00 and gave the stock an “overweight” rating in a report on Monday, April 16th. Citigroup increased their target price on Alaska Air Group from $69.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, April 16th. JPMorgan Chase cut Alaska Air Group from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $65.48 to $67.00 in a report on Tuesday, January 30th. Finally, UBS downgraded shares of Alaska Air Group from a “buy” rating to a “neutral” rating in a research note on Thursday, February 15th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $85.00.

Alaska Air Group stock opened at $60.53 on Friday. Alaska Air Group has a one year low of $57.60 and a one year high of $95.75. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.71 and a quick ratio of 0.77. The stock has a market cap of $7.44 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 1.74 and a beta of 0.75.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Monday, April 23rd. The transportation company reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.03. Alaska Air Group had a net margin of 11.64% and a return on equity of 20.43%. The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the business posted $1.12 EPS. Alaska Air Group’s revenue was up 4.7% on a year-over-year basis. sell-side analysts expect that Alaska Air Group will post 5.35 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 7th. Investors of record on Tuesday, May 22nd will be paid a $0.32 dividend. The ex-dividend date is Monday, May 21st. This represents a $1.28 annualized dividend and a yield of 2.11%. Alaska Air Group’s dividend payout ratio (DPR) is currently 19.28%.

Alaska Air Group Company Profile

Alaska Air Group, Inc, through its subsidiaries, provides passengers and cargo air transportation services. It also focuses on providing ground and ramp handling services to airlines. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 118 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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