Alaska Air Group, Inc. (ALK) Shares Sold by Flinton Capital Management LLC
Flinton Capital Management LLC reduced its stake in Alaska Air Group, Inc. (NYSE:ALK) by 24.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,916 shares of the transportation company’s stock after selling 20,272 shares during the quarter. Flinton Capital Management LLC owned about 0.05% of Alaska Air Group worth $5,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Royal Bank of Canada raised its stake in Alaska Air Group by 19.0% in the second quarter. Royal Bank of Canada now owns 366,619 shares of the transportation company’s stock valued at $32,907,000 after purchasing an additional 58,637 shares in the last quarter. Boston Common Asset Management LLC grew its stake in Alaska Air Group by 124.9% in the 2nd quarter. Boston Common Asset Management LLC now owns 9,480 shares of the transportation company’s stock worth $851,000 after buying an additional 5,265 shares in the last quarter. Institute for Wealth Management LLC. purchased a new position in Alaska Air Group in the 2nd quarter worth approximately $684,000. First Allied Advisory Services Inc. grew its stake in Alaska Air Group by 4.3% in the 2nd quarter. First Allied Advisory Services Inc. now owns 21,514 shares of the transportation company’s stock worth $1,926,000 after buying an additional 889 shares in the last quarter. Finally, HighVista Strategies LLC purchased a new position in Alaska Air Group in the 2nd quarter worth approximately $296,000. 87.76% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Andrew R. Harrison sold 2,350 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $86.03, for a total value of $202,170.50. Following the sale, the executive vice president now owns 21,328 shares of the company’s stock, valued at $1,834,847.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Bradley D. Tilden sold 2,400 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $85.83, for a total transaction of $205,992.00. Following the completion of the sale, the chairman now directly owns 140,346 shares in the company, valued at approximately $12,045,897.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,350 shares of company stock valued at $937,251. 0.57% of the stock is owned by corporate insiders.
A number of analysts have recently issued reports on the stock. BidaskClub downgraded shares of Alaska Air Group from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Morgan Stanley reduced their target price 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. Macquarie started coverage on Alaska Air Group in a research note on Monday, September 25th. They issued an “outperform” rating and a $94.00 target price on the stock. Zacks Investment Research downgraded Alaska Air Group from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Barclays PLC restated a “buy” rating on shares of Alaska Air Group in a research report on Thursday, September 14th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Alaska Air Group currently has a consensus rating of “Buy” and an average price target of $103.59.
Shares of Alaska Air Group, Inc. (NYSE:ALK) traded up 1.6974% during midday trading on Wednesday, reaching $81.5105. The company had a trading volume of 907,271 shares. The firm has a market capitalization of $10.07 billion, a price-to-earnings ratio of 13.2559 and a beta of 0.99. Alaska Air Group, Inc. has a 52 week low of $67.76 and a 52 week high of $101.43. The stock has a 50-day moving average of $75.80 and a 200 day moving average of $85.30.
Alaska Air Group (NYSE:ALK) last released its earnings results on Wednesday, July 26th. The transportation company reported $2.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.52 by ($0.01). Alaska Air Group had a net margin of 11.02% and a return on equity of 30.04%. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the prior year, the firm posted $2.12 EPS. The business’s revenue for the quarter was up 40.7% compared to the same quarter last year. On average, analysts anticipate that Alaska Air Group, Inc. will post $7.52 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Tuesday, August 22nd were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.50%. Alaska Air Group’s dividend payout ratio is presently 19.48%.
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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