Alaska Air Group, Inc. (ALK) Shares Bought by Profund Advisors LLC
Profund Advisors LLC increased its stake in Alaska Air Group, Inc. (NYSE:ALK) by 25.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,424 shares of the transportation company’s stock after purchasing an additional 894 shares during the quarter. Profund Advisors LLC’s holdings in Alaska Air Group were worth $397,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in ALK. Bessemer Group Inc. increased its holdings in shares of Alaska Air Group by 57.9% in the 2nd quarter. Bessemer Group Inc. now owns 1,895 shares of the transportation company’s stock valued at $171,000 after purchasing an additional 695 shares in the last quarter. Twin Tree Management LP purchased a new position in shares of Alaska Air Group in the 1st quarter valued at about $179,000. Rehmann Capital Advisory Group purchased a new position in shares of Alaska Air Group in the 2nd quarter valued at about $201,000. Insight Capital Research & Management Inc. purchased a new position in shares of Alaska Air Group in the 2nd quarter valued at about $215,000. Finally, Smithfield Trust Co. increased its holdings in shares of Alaska Air Group by 8.6% in the 2nd quarter. Smithfield Trust Co. now owns 2,391 shares of the transportation company’s stock valued at $215,000 after purchasing an additional 189 shares in the last quarter. Institutional investors and hedge funds own 87.76% of the company’s stock.
Shares of Alaska Air Group, Inc. (ALK) opened at 80.84 on Thursday. Alaska Air Group, Inc. has a 52 week low of $67.89 and a 52 week high of $101.43. The firm has a market capitalization of $9.99 billion, a PE ratio of 13.15 and a beta of 0.99. The company has a 50-day moving average of $75.71 and a 200-day moving average of $85.27.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.51 EPS for the quarter, missing the consensus estimate of $2.52 by ($0.01). Alaska Air Group had a return on equity of 30.04% and a net margin of 11.02%. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter last year, the firm posted $2.12 earnings per share. Alaska Air Group’s revenue was up 40.7% compared to the same quarter last year. On average, equities analysts forecast that Alaska Air Group, Inc. will post $7.52 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Tuesday, August 22nd were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Friday, August 18th. Alaska Air Group’s dividend payout ratio (DPR) is presently 19.48%.
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ALK has been the subject of a number of research analyst reports. BidaskClub downgraded shares of Alaska Air Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Morgan Stanley reiterated an “overweight” rating on shares of Alaska Air Group in a report on Tuesday, September 12th. ValuEngine downgraded shares of Alaska Air Group from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research downgraded shares of Alaska Air Group from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Finally, Cowen and Company reiterated a “buy” rating and issued a $103.00 price target on shares of Alaska Air Group in a report on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $103.59.
In related news, Chairman Bradley D. Tilden sold 2,400 shares of Alaska Air Group stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $85.83, for a total value of $205,992.00. Following the transaction, the chairman now owns 140,346 shares of the company’s stock, valued at approximately $12,045,897.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew R. Harrison sold 2,350 shares of Alaska Air Group stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $86.03, for a total value of $202,170.50. Following the completion of the transaction, the executive vice president now directly owns 21,328 shares in the company, valued at approximately $1,834,847.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,350 shares of company stock worth $937,251. 0.57% of the stock is owned by company insiders.
About Alaska Air Group
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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