Redmond Asset Management LLC trimmed its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 3.8% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 16,465 shares of the transportation company’s stock after selling 650 shares during the quarter. Redmond Asset Management LLC’s holdings in Alaska Air Group were worth $1,052,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ALK. Victory Capital Management Inc. increased its holdings in Alaska Air Group by 1,307.7% in the 1st quarter. Victory Capital Management Inc. now owns 1,947,067 shares of the transportation company’s stock worth $109,269,000 after buying an additional 1,808,754 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in Alaska Air Group by 65.0% in the 1st quarter. Thompson Siegel & Walmsley LLC now owns 1,812,028 shares of the transportation company’s stock worth $101,691,000 after buying an additional 713,959 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in Alaska Air Group by 34.6% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 2,257,103 shares of the transportation company’s stock worth $126,669,000 after buying an additional 579,823 shares in the last quarter. Norges Bank bought a new stake in Alaska Air Group in the 4th quarter worth about $31,868,000. Finally, Dimensional Fund Advisors LP increased its holdings in Alaska Air Group by 21.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,883,681 shares of the transportation company’s stock worth $175,468,000 after buying an additional 503,977 shares in the last quarter. Institutional investors own 87.97% of the company’s stock.
NYSE ALK traded down $0.09 during trading hours on Thursday, reaching $59.14. The company’s stock had a trading volume of 37,952 shares, compared to its average volume of 1,126,022. The business’s 50-day moving average is $63.66. The company has a quick ratio of 0.61, a current ratio of 0.63 and a debt-to-equity ratio of 0.75. Alaska Air Group, Inc. has a 1 year low of $53.39 and a 1 year high of $74.83. The stock has a market cap of $7.30 billion, a P/E ratio of 13.28, a price-to-earnings-growth ratio of 0.49 and a beta of 0.86.
Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Thursday, July 25th. The transportation company reported $2.17 EPS for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.06. Alaska Air Group had a return on equity of 16.28% and a net margin of 6.00%. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the previous year, the firm earned $1.66 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. Sell-side analysts anticipate that Alaska Air Group, Inc. will post 5.94 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Tuesday, August 20th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Monday, August 19th. Alaska Air Group’s payout ratio is 31.39%.
In other Alaska Air Group news, VP Kyle B. Levine sold 2,430 shares of Alaska Air Group stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total value of $157,950.00. Following the sale, the vice president now owns 8,039 shares of the company’s stock, valued at approximately $522,535. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.43% of the company’s stock.
A number of equities research analysts have issued reports on ALK shares. TheStreet upgraded Alaska Air Group from a “c” rating to a “b” rating in a research note on Thursday, July 25th. Macquarie downgraded Alaska Air Group from an “outperform” rating to a “neutral” rating and cut their price target for the company from $79.00 to $63.00 in a research note on Monday, July 29th. 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. Morgan Stanley boosted 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. Finally, Zacks Investment Research upgraded Alaska Air Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $73.36.
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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