L & S Advisors Inc purchased a new position in shares of Alaska Air Group, Inc. (NYSE:ALK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 38,436 shares of the transportation company’s stock, valued at approximately $2,456,000.
A number of other large investors have also recently added to or reduced their stakes in the business. Gateway Investment Advisers LLC raised its stake in shares of Alaska Air Group by 24.1% in the second quarter. Gateway Investment Advisers LLC now owns 118,594 shares of the transportation company’s stock valued at $7,579,000 after acquiring an additional 23,067 shares in the last quarter. Alta Capital Management LLC acquired a new stake in Alaska Air Group in the second quarter valued at $232,000. Machina Capital S.A.S. acquired a new stake in Alaska Air Group in the second quarter valued at $68,000. AlphaMark Advisors LLC acquired a new stake in Alaska Air Group in the first quarter valued at $2,227,000. Finally, Cognios Capital LLC raised its stake in Alaska Air Group by 26.8% in the first quarter. Cognios Capital LLC now owns 39,832 shares of the transportation company’s stock valued at $2,234,000 after buying an additional 8,425 shares in the last quarter. Institutional investors own 88.45% of the company’s stock.
A number of analysts have weighed in on ALK shares. TheStreet upgraded Alaska Air Group from a “c” rating to a “b” rating in a research note on Thursday, July 25th. Citigroup set a $66.00 price target on Alaska Air Group and gave the company a “hold” rating in a research note on Friday, July 26th. ValuEngine cut Alaska Air Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Imperial Capital restated an “in-line” rating and issued a $70.00 price target (up from $68.00) on shares of Alaska Air Group in a research note on Tuesday, August 6th. Finally, Morgan Stanley raised their price target on Alaska Air Group from $76.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $73.36.
In other Alaska Air Group news, VP Kyle B. Levine sold 2,430 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total transaction of $157,950.00. Following the transaction, the vice president now owns 8,039 shares of the company’s stock, valued at $522,535. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.43% of the company’s stock.
Shares of ALK stock traded up $0.15 during mid-day trading on Friday, hitting $65.83. 51,190 shares of the stock were exchanged, compared to its average volume of 970,817. The stock’s fifty day simple moving average is $61.88 and its two-hundred day simple moving average is $60.81. The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 0.51 and a beta of 0.86. 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 0.75, a quick ratio of 0.61 and a current ratio of 0.63.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Thursday, July 25th. The transportation company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.06. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. Alaska Air Group had a return on equity of 16.28% and a net margin of 6.00%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.66 earnings per share. On average, research analysts expect that Alaska Air Group, Inc. will post 5.91 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Monday, August 19th. Alaska Air Group’s payout ratio is 31.39%.
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.
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