Sterling Capital Management LLC lifted its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 1.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,140,374 shares of the transportation company’s stock after buying an additional 13,788 shares during the period. Sterling Capital Management LLC’s holdings in Alaska Air Group were worth $72,881,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. TRUE Private Wealth Advisors bought a new stake in shares of Alaska Air Group in the 2nd quarter valued at about $25,000. Icon Wealth Partners LLC bought a new stake in shares of Alaska Air Group in the 1st quarter valued at about $36,000. NuWave Investment Management LLC bought a new stake in shares of Alaska Air Group in the 2nd quarter valued at about $45,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Alaska Air Group in the 2nd quarter valued at about $64,000. Finally, Machina Capital S.A.S. bought a new stake in shares of Alaska Air Group in the 2nd quarter valued at about $68,000. Institutional investors own 88.39% of the company’s stock.
In other news, VP Kyle B. Levine sold 2,430 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total transaction of $157,950.00. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.43% of the stock is owned by corporate insiders.
A number of equities research analysts have recently issued reports on the stock. Citigroup set a $66.00 target price on shares of Alaska Air Group and gave the company a “hold” rating in a report on Friday, July 26th. TheStreet raised shares of Alaska Air Group from a “c” rating to a “b” rating in a report on Thursday, July 25th. ValuEngine cut shares of Alaska Air Group from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Imperial Capital reaffirmed an “in-line” rating and issued a $70.00 target price (up from $68.00) on shares of Alaska Air Group in a report on Tuesday, August 6th. Finally, Macquarie cut shares of Alaska Air Group from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $79.00 to $63.00 in a report on Monday, July 29th. 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 has an average rating of “Buy” and a consensus price target of $73.36.
Alaska Air Group stock traded down $1.21 during trading hours on Monday, hitting $64.66. The company had a trading volume of 1,295,191 shares, compared to its average volume of 1,331,303. The firm has a market cap of $8.00 billion, a PE ratio of 14.50, a PEG ratio of 0.52 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. Alaska Air Group, Inc. has a one year low of $53.39 and a one year high of $74.83. The firm has a 50-day moving average of $61.89 and a 200 day moving average of $60.83.
Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Thursday, July 25th. The transportation company reported $2.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.06. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.28 billion. Alaska Air Group had a net margin of 6.00% and a return on equity of 16.28%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.66 EPS. As a group, research analysts expect that Alaska Air Group, Inc. will post 5.91 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Tuesday, August 20th were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.40 annualized dividend and a yield of 2.17%. Alaska Air Group’s dividend payout ratio is currently 31.39%.
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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