Alaska Air Group, Inc. (ALK) Shares Bought by Sapphire Star Partners LP
Sapphire Star Partners LP lifted its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 69.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,940 shares of the transportation company’s stock after buying an additional 1,611 shares during the quarter. Sapphire Star Partners LP’s holdings in Alaska Air Group were worth $300,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in ALK. Egerton Capital UK LLP bought a new position in shares of Alaska Air Group in the second quarter valued at about $265,002,000. Principal Financial Group Inc. raised its holdings in shares of Alaska Air Group by 149.3% in the second quarter. Principal Financial Group Inc. now owns 1,230,588 shares of the transportation company’s stock valued at $110,457,000 after buying an additional 737,020 shares during the last quarter. Janus Henderson Group PLC bought a new position in shares of Alaska Air Group in the second quarter valued at about $57,891,000. State of New Jersey Common Pension Fund D raised its holdings in shares of Alaska Air Group by 900.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 500,000 shares of the transportation company’s stock valued at $44,880,000 after buying an additional 450,000 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Alaska Air Group by 78.0% in the second quarter. JPMorgan Chase & Co. now owns 805,723 shares of the transportation company’s stock valued at $72,323,000 after buying an additional 353,166 shares during the last quarter. 88.27% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on the company. Barclays PLC cut their price target on Alaska Air Group from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, October 26th. J P Morgan Chase & Co cut Alaska Air Group from an “overweight” rating to a “neutral” rating and set a $74.00 price target for the company. in a report on Wednesday, November 1st. Morgan Stanley reaffirmed an “overweight” rating on shares of Alaska Air Group in a report on Monday, September 18th. Cowen and Company cut their price target on Alaska Air Group from $103.00 to $100.00 and set an “outperform” rating for the company in a report on Thursday, September 14th. Finally, Stifel Nicolaus cut their price target on Alaska Air Group from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, October 26th. Two analysts have rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $92.34.
Alaska Air Group, Inc. (ALK) traded up $0.37 during trading on Monday, hitting $64.02. The stock had a trading volume of 91,136 shares, compared to its average volume of 2,060,000. The firm has a market cap of $7,830.00, a price-to-earnings ratio of 8.65 and a beta of 1.01. Alaska Air Group, Inc. has a 52 week low of $62.65 and a 52 week high of $101.43. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.80 and a quick ratio of 0.78.
Alaska Air Group (NYSE:ALK) last posted its earnings results on Wednesday, October 25th. The transportation company reported $2.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.26 by ($0.02). The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.13 billion. Alaska Air Group had a return on equity of 28.74% and a net margin of 10.34%. Alaska Air Group’s quarterly revenue was up 35.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.20 earnings per share. equities research analysts expect that Alaska Air Group, Inc. will post 6.84 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Tuesday, November 21st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, November 20th. This represents a $1.20 annualized dividend and a dividend yield of 1.87%. Alaska Air Group’s payout ratio is currently 19.23%.
In other news, Chairman Bradley D. Tilden sold 2,400 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $85.83, for a total transaction of $205,992.00. Following the completion of the transaction, the chairman now directly owns 140,346 shares in the company, valued at approximately $12,045,897.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is currently owned by insiders.
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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