ETRADE Capital Management LLC trimmed its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 23.3% in the fourth quarter, HoldingsChannel reports. The firm owned 9,754 shares of the transportation company’s stock after selling 2,965 shares during the quarter. ETRADE Capital Management LLC’s holdings in Alaska Air Group were worth $717,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of ALK. Nationwide Fund Advisors increased its stake in Alaska Air Group by 8.2% during the 3rd quarter. Nationwide Fund Advisors now owns 165,134 shares of the transportation company’s stock worth $12,595,000 after purchasing an additional 12,499 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in Alaska Air Group during the 3rd quarter worth approximately $706,000. Tocqueville Asset Management L.P. bought a new stake in Alaska Air Group during the 3rd quarter worth approximately $207,000. State of Wisconsin Investment Board increased its stake in Alaska Air Group by 6.3% during the 3rd quarter. State of Wisconsin Investment Board now owns 26,699 shares of the transportation company’s stock worth $2,036,000 after purchasing an additional 1,584 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Alaska Air Group by 3.5% during the 3rd quarter. American Century Companies Inc. now owns 77,090 shares of the transportation company’s stock worth $5,880,000 after purchasing an additional 2,610 shares in the last quarter. 86.22% of the stock is owned by institutional investors and hedge funds.
In related news, VP Kyle B. Levine sold 1,503 shares of the firm’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $65.00, for a total value of $97,695.00. Following the completion of the transaction, the vice president now directly owns 7,182 shares of the company’s stock, valued at $466,830. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Christopher Michael Berry sold 460 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $97.00, for a total transaction of $44,620.00. Following the completion of the transaction, the vice president now directly owns 1,997 shares of the company’s stock, valued at $193,709. The disclosure for this sale can be found here. Insiders sold 13,373 shares of company stock valued at $884,697 over the last three months. 0.57% of the stock is owned by company insiders.
Alaska Air Group (NYSE:ALK) last released its earnings results on Thursday, January 25th. The transportation company reported $0.83 earnings per share for the quarter, meeting the consensus estimate of $0.83. Alaska Air Group had a net margin of 12.96% and a return on equity of 24.39%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the business earned $1.56 earnings per share. The firm’s revenue was up 28.7% on a year-over-year basis. equities research analysts predict that Alaska Air Group, Inc. will post 5.74 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 8th. Investors of record on Tuesday, February 20th were paid a $0.32 dividend. The ex-dividend date of this dividend was Friday, February 16th. This is a boost from Alaska Air Group’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a dividend yield of 1.98%. Alaska Air Group’s dividend payout ratio (DPR) is currently 15.46%.
A number of analysts recently issued reports on ALK shares. Standpoint Research started coverage on Alaska Air Group in a research note on Monday, December 18th. They set a “buy” rating and a $90.00 target price for the company. ValuEngine raised Alaska Air Group from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Morgan Stanley set a $78.00 price target on shares of Alaska Air Group and gave the stock a “buy” rating in a research note on Thursday, November 16th. Stifel Nicolaus reaffirmed a “buy” rating and set a $105.00 price target (down from $115.00) on shares of Alaska Air Group in a research note on Wednesday, January 10th. Finally, Buckingham Research decreased their price target on shares of Alaska Air Group from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $87.53.
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Alaska Air Group Profile
Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska), Virgin America Inc, Horizon Air (Horizon) and other business units. The Company operates through three segments: Mainline, Regional and Horizon. Its Mainline segment includes Alaska’s and Virgin America’s scheduled air transportation for passengers and cargo throughout the United States, and in parts of Canada, Mexico, Costa Rica and Cuba.
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