Stone Ridge Asset Management LLC Invests $233,000 in Alaska Air Group (ALK)

Stone Ridge Asset Management LLC bought a new stake in Alaska Air Group (NYSE:ALK) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,174 shares of the transportation company’s stock, valued at approximately $233,000.

Several other institutional investors have also made changes to their positions in ALK. New York State Common Retirement Fund increased its holdings in shares of Alaska Air Group by 1.8% in the 3rd quarter. New York State Common Retirement Fund now owns 284,300 shares of the transportation company’s stock valued at $21,684,000 after acquiring an additional 5,000 shares during the period. Legal & General Group Plc increased its holdings in shares of Alaska Air Group by 5.1% in the 3rd quarter. Legal & General Group Plc now owns 169,188 shares of the transportation company’s stock valued at $12,904,000 after acquiring an additional 8,178 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Alaska Air Group by 9.4% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,046 shares of the transportation company’s stock valued at $766,000 after acquiring an additional 863 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Alaska Air Group by 40.8% in the 3rd quarter. Wells Fargo & Company MN now owns 558,877 shares of the transportation company’s stock valued at $42,626,000 after acquiring an additional 161,990 shares during the period. Finally, BB&T Securities LLC increased its holdings in shares of Alaska Air Group by 446.9% in the 3rd quarter. BB&T Securities LLC now owns 15,237 shares of the transportation company’s stock valued at $1,162,000 after acquiring an additional 12,451 shares during the period. 86.33% of the stock is currently owned by institutional investors and hedge funds.

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A number of brokerages have recently commented on ALK. JPMorgan Chase cut shares of Alaska Air Group from a “neutral” rating to an “underweight” rating and lifted their target price for the company from $65.48 to $67.00 in a report on Tuesday, January 30th. ValuEngine cut shares of Alaska Air Group from a “buy” rating to a “hold” rating in a report on Monday. Zacks Investment Research cut shares of Alaska Air Group from a “hold” rating to a “sell” rating in a report on Tuesday, March 20th. Morgan Stanley cut their target price on shares of Alaska Air Group from $86.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, January 26th. Finally, TheStreet cut shares of Alaska Air Group from a “b-” rating to a “c+” rating in a report on Monday. Two analysts have rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $84.69.

In other Alaska Air Group news, VP Brandon Pedersen sold 2,700 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $65.14, for a total transaction of $175,878.00. Following the sale, the vice president now directly owns 26,888 shares in the company, valued at approximately $1,751,484.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher Michael Berry sold 460 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $97.00, for a total transaction of $44,620.00. Following the sale, the vice president now owns 1,997 shares in the company, valued at $193,709. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,373 shares of company stock worth $884,697. 0.57% of the stock is currently owned by insiders.

NYSE:ALK opened at $62.11 on Friday. Alaska Air Group has a 1-year low of $57.60 and a 1-year high of $95.75. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.77 and a current ratio of 0.79. The firm has a market capitalization of $7,529.85, a P/E ratio of 9.23, a PEG ratio of 0.95 and a beta of 0.75.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, January 25th. The transportation company reported $0.83 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.83. Alaska Air Group had a net margin of 12.96% and a return on equity of 24.39%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the firm posted $1.56 EPS. Alaska Air Group’s quarterly revenue was up 28.7% on a year-over-year basis. analysts forecast that Alaska Air Group will post 5.68 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 8th. Investors of record on Tuesday, February 20th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.06%. This is a positive change from Alaska Air Group’s previous quarterly dividend of $0.30. The ex-dividend date was Friday, February 16th. Alaska Air Group’s dividend payout ratio (DPR) is 19.28%.

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About Alaska Air Group

Alaska Air Group, Inc, through its subsidiaries, provides passengers and cargo air transportation services. It also focuses on providing ground and ramp handling services to airlines. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 118 destinations across the United States, Mexico, Canada, and Costa Rica.

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Institutional Ownership by Quarter for Alaska Air Group (NYSE:ALK)

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