Bank of Nova Scotia lowered its position in Alaska Air Group, Inc. (NYSE:ALK) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,923 shares of the transportation company’s stock after selling 305 shares during the quarter. Bank of Nova Scotia’s holdings in Alaska Air Group were worth $2,506,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Coldstream Capital Management Inc. increased its position in shares of Alaska Air Group by 5.3% in the second quarter. Coldstream Capital Management Inc. now owns 15,791 shares of the transportation company’s stock valued at $1,417,000 after buying an additional 801 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Alaska Air Group by 24.1% in the second quarter. The Manufacturers Life Insurance Company now owns 205,247 shares of the transportation company’s stock valued at $18,423,000 after buying an additional 39,837 shares in the last quarter. Caxton Associates LP purchased a new position in shares of Alaska Air Group in the second quarter valued at $8,114,000. Cubist Systematic Strategies LLC increased its position in shares of Alaska Air Group by 10.9% in the second quarter. Cubist Systematic Strategies LLC now owns 17,301 shares of the transportation company’s stock valued at $1,553,000 after buying an additional 1,701 shares in the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of Alaska Air Group in the second quarter valued at $3,506,000. Institutional investors and hedge funds own 87.72% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This report was originally published by Watch List News and is the sole property of of Watch List News. If you are reading this report on another website, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright legislation. The legal version of this report can be read at https://www.watchlistnews.com/alaska-air-group-inc-alk-shares-sold-by-bank-of-nova-scotia/1643002.html.

Shares of Alaska Air Group, Inc. (NYSE ALK) opened at 78.83 on Friday. The firm has a market capitalization of $9.74 billion, a price-to-earnings ratio of 12.82 and a beta of 0.99. Alaska Air Group, Inc. has a 52 week low of $69.12 and a 52 week high of $101.43. The firm has a 50-day moving average price of $76.87 and a 200-day moving average price of $84.26.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.51 earnings per share for the quarter, missing the consensus estimate of $2.52 by ($0.01). The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.10 billion. Alaska Air Group had a net margin of 11.02% and a return on equity of 30.04%. The firm’s quarterly revenue was up 40.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.12 earnings per share. On average, equities analysts expect that Alaska Air Group, Inc. will post $7.37 earnings per share for the current fiscal year.

A number of research analysts have recently weighed in on ALK shares. BidaskClub cut Alaska Air Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Bank of America Corporation increased their price objective on Alaska Air Group from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, June 30th. Zacks Investment Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 price objective on the stock in a research note on Tuesday, July 4th. Morgan Stanley decreased their price objective on Alaska Air Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a research note on Monday, July 17th. Finally, ValuEngine lowered Alaska Air Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Alaska Air Group currently has a consensus rating of “Buy” and an average target price of $103.15.

In other Alaska Air Group news, EVP Andrew R. Harrison sold 2,350 shares of the business’s 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 transaction, the executive vice president now owns 21,328 shares in the company, valued at $1,834,847.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Bradley D. Tilden sold 2,400 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $85.83, for a total value of $205,992.00. Following the completion of the transaction, the chairman now owns 140,346 shares in the company, valued at approximately $12,045,897.18. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.

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.

Want to see what other hedge funds are holding ALK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alaska Air Group, Inc. (NYSE:ALK).

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

Receive News & Ratings for Alaska Air Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alaska Air Group Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.