Private Advisors LLC Grows Stake in Alaska Air Group, Inc. (NYSE:ALK)

Private Advisors LLC grew its position in Alaska Air Group, Inc. (NYSE:ALK) by 11.2% during the 1st quarter, HoldingsChannel reports. The fund owned 10,930 shares of the transportation company’s stock after buying an additional 1,105 shares during the quarter. Private Advisors LLC’s holdings in Alaska Air Group were worth $613,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Investors Research Corp purchased a new position in shares of Alaska Air Group in the first quarter valued at approximately $28,000. Icon Wealth Partners LLC purchased a new position in Alaska Air Group during the first quarter worth approximately $36,000. Sandy Spring Bank lifted its position in Alaska Air Group by 58.8% during the first quarter. Sandy Spring Bank now owns 794 shares of the transportation company’s stock worth $45,000 after buying an additional 294 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Alaska Air Group by 762.7% during the first quarter. Quadrant Capital Group LLC now owns 949 shares of the transportation company’s stock worth $52,000 after buying an additional 839 shares in the last quarter. Finally, Enlightenment Research LLC purchased a new position in Alaska Air Group during the fourth quarter worth approximately $61,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

In other Alaska Air Group news, EVP Andrew R. Harrison sold 4,700 shares of Alaska Air Group stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $62.63, for a total value of $294,361.00. Following the sale, the executive vice president now owns 15,867 shares in the company, valued at $993,750.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrew R. Harrison sold 1,600 shares of Alaska Air Group stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $61.53, for a total value of $98,448.00. Following the completion of the sale, the executive vice president now owns 20,567 shares in the company, valued at approximately $1,265,487.51. The disclosure for this sale can be found here. 0.43% of the stock is owned by insiders.

NYSE:ALK traded up $0.96 on Friday, reaching $63.12. The company’s stock had a trading volume of 1,236,882 shares, compared to its average volume of 868,082. Alaska Air Group, Inc. has a 12-month low of $53.39 and a 12-month high of $74.83. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $7.80 billion, a P/E ratio of 14.15, a P/E/G ratio of 0.64 and a beta of 0.84.

Alaska Air Group (NYSE:ALK) last posted its earnings results on Thursday, April 25th. The transportation company reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.04. Alaska Air Group had a return on equity of 14.97% and a net margin of 5.26%. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the business earned $0.14 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. Sell-side analysts anticipate that Alaska Air Group, Inc. will post 5.7 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Tuesday, May 21st were given a $0.35 dividend. The ex-dividend date was Monday, May 20th. This represents a $1.40 dividend on an annualized basis and a yield of 2.22%. Alaska Air Group’s dividend payout ratio is currently 31.39%.

ALK has been the topic of a number of analyst reports. Zacks Investment Research downgraded Alaska Air Group from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. ValuEngine downgraded Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. Citigroup reduced their price objective on Alaska Air Group from $74.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. Buckingham Research reduced their price objective on Alaska Air Group from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, March 8th. Finally, Bank of America reiterated a “neutral” rating and set a $62.00 price objective (down previously from $70.00) on shares of Alaska Air Group in a research report on Thursday, April 4th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $76.43.

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About Alaska Air Group

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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