Alaska Air Group, Inc. (ALK) Stake Increased by AQR Capital Management LLC
AQR Capital Management LLC boosted its position in Alaska Air Group, Inc. (NYSE:ALK) by 0.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,163,519 shares of the transportation company’s stock after buying an additional 9,212 shares during the period. AQR Capital Management LLC’s holdings in Alaska Air Group were worth $107,300,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its stake in Alaska Air Group by 10.2% in the fourth quarter. Bessemer Group Inc. now owns 1,358 shares of the transportation company’s stock worth $121,000 after buying an additional 126 shares during the last quarter. Twin Tree Management LP purchased a new stake in Alaska Air Group during the first quarter worth $179,000. Assetmark Inc. increased its stake in Alaska Air Group by 70.3% in the first quarter. Assetmark Inc. now owns 2,027 shares of the transportation company’s stock worth $187,000 after buying an additional 837 shares during the last quarter. Verity Asset Management Inc. purchased a new stake in Alaska Air Group during the first quarter worth $218,000. Finally, Private Advisor Group LLC bought a new position in shares of Alaska Air Group during the first quarter worth approximately $216,000. Institutional investors own 91.93% of the company’s stock.
Alaska Air Group, Inc. (NYSE ALK) traded up 0.17% during trading on Wednesday, hitting $89.07. The stock had a trading volume of 77,051 shares. The stock has a market cap of $11.01 billion, a price-to-earnings ratio of 15.17 and a beta of 0.96. Alaska Air Group, Inc. has a 12 month low of $54.51 and a 12 month high of $101.43. The stock has a 50 day moving average price of $86.73 and a 200-day moving average price of $90.81.
Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Wednesday, April 26th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.01. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.77 billion. Alaska Air Group had a return on equity of 30.01% and a net margin of 11.51%. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period last year, the company earned $1.45 EPS. On average, equities analysts predict that Alaska Air Group, Inc. will post $8.09 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 8th. Stockholders of record on Tuesday, May 23rd were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Friday, May 19th. Alaska Air Group’s payout ratio is 20.41%.
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A number of equities analysts have commented on ALK shares. Cowen and Company raised Alaska Air Group from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $102.00 to $103.00 in a research note on Monday, April 24th. Imperial Capital decreased their price target on Alaska Air Group from $101.00 to $98.00 and set an “in-line” rating on the stock in a research note on Friday, March 31st. Stifel Nicolaus raised Alaska Air Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $105.00 to $145.00 in a research note on Monday, March 20th. Morgan Stanley lifted their price target on Alaska Air Group from $102.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, April 28th. Finally, Vetr raised Alaska Air Group from a “hold” rating to a “strong-buy” rating and set a $124.48 price target on the stock in a research note on Monday, March 20th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $105.04.
In other news, SVP Joseph A. Sprague sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $90.85, for a total value of $635,950.00. Following the completion of the sale, the senior vice president now directly owns 7,191 shares of the company’s stock, valued at approximately $653,302.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Bradley D. Tilden sold 4,700 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $84.63, for a total value of $397,761.00. Following the completion of the sale, the chairman now directly owns 148,646 shares of the company’s stock, valued at $12,579,910.98. The disclosure for this sale can be found here. Insiders sold a total of 23,800 shares of company stock valued at $2,118,591 over the last ninety days. Corporate 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.
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