Sit Investment Associates Inc. raised its position in shares of Alaska Air Group Inc. (NYSE:ALK) by 25.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 77,650 shares of the company’s stock after buying an additional 15,925 shares during the period. Sit Investment Associates Inc.’s holdings in Alaska Air Group were worth $4,526,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Aperio Group LLC boosted its position in Alaska Air Group by 6.4% in the first quarter. Aperio Group LLC now owns 53,826 shares of the company’s stock worth $4,415,000 after buying an additional 3,229 shares in the last quarter. IFP Advisors Inc boosted its position in Alaska Air Group by 21.9% in the first quarter. IFP Advisors Inc now owns 2,243 shares of the company’s stock worth $184,000 after buying an additional 403 shares in the last quarter. Pacad Investment Ltd. acquired a new position in Alaska Air Group during the first quarter worth approximately $262,000. Teachers Advisors Inc. boosted its position in Alaska Air Group by 7.4% in the first quarter. Teachers Advisors Inc. now owns 399,858 shares of the company’s stock worth $32,796,000 after buying an additional 27,673 shares in the last quarter. Finally, BlackRock Group LTD boosted its position in Alaska Air Group by 11.1% in the first quarter. BlackRock Group LTD now owns 92,404 shares of the company’s stock worth $7,579,000 after buying an additional 9,198 shares in the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.
Shares of Alaska Air Group Inc. (NYSE:ALK) traded down 1.42% during trading on Friday, hitting $68.11. 1,197,686 shares of the company were exchanged. The stock has a market cap of $8.38 billion, a P/E ratio of 9.43 and a beta of 0.88. The company’s 50-day moving average price is $67.38 and its 200 day moving average price is $68.27. Alaska Air Group Inc. has a 12 month low of $54.51 and a 12 month high of $87.17.
Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results on Thursday, July 21st. The company reported $2.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.09 by $0.03. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. Alaska Air Group had a net margin of 15.86% and a return on equity of 36.88%. Alaska Air Group’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the business earned $1.76 EPS. On average, equities analysts predict that Alaska Air Group Inc. will post $7.05 earnings per share for the current fiscal year.
A number of research analysts recently commented on ALK shares. Raymond James Financial Inc. cut Alaska Air Group from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $105.00 to $88.00 in a report on Tuesday, June 14th. Cowen and Company cut their target price on Alaska Air Group from $88.00 to $87.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 14th. Morgan Stanley reissued an “overweight” rating on shares of Alaska Air Group in a research report on Wednesday, June 15th. Zacks Investment Research lowered Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Wednesday, June 22nd. Finally, Credit Suisse Group AG raised Alaska Air Group from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $70.00 to $85.00 in a research report on Monday, July 25th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $86.48.
In other Alaska Air Group news, VP Brandon Pedersen sold 9,943 shares of Alaska Air Group stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $70.52, for a total value of $701,180.36. Following the transaction, the vice president now owns 13,360 shares in the company, valued at approximately $942,147.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Mark G. Eliasen sold 2,884 shares of Alaska Air Group stock in a transaction on Friday, July 15th. The shares were sold at an average price of $65.00, for a total transaction of $187,460.00. Following the completion of the transaction, the vice president now owns 5,302 shares in the company, valued at approximately $344,630. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.
Alaska Air Group Company Profile
Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska) and Horizon Air (Horizon). The Company operates through three segments: Alaska Mainline, Alaska Regional and Horizon. Its Alaska Mainline segment operates the Boeing 737 part of Alaska’s business. It offers north/south service within the western United States, Canada, Mexico and Costa Rica, as well as passenger and dedicated cargo services to and within the state of Alaska.
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