Burney Co. Sells 2,141 Shares of Alaska Air Group, Inc. (ALK)
Burney Co. lowered its stake in Alaska Air Group, Inc. (NYSE:ALK) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,400 shares of the transportation company’s stock after selling 2,141 shares during the period. Burney Co. owned 0.07% of Alaska Air Group worth $7,164,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of ALK. Bessemer Group Inc. raised its position in Alaska Air Group by 57.9% in the second quarter. Bessemer Group Inc. now owns 1,895 shares of the transportation company’s stock valued at $171,000 after buying an additional 695 shares during the last quarter. Twin Tree Management LP bought a new position in Alaska Air Group during the first quarter valued at about $179,000. Assetmark Inc. raised its position in Alaska Air Group by 70.3% in the first quarter. Assetmark Inc. now owns 2,027 shares of the transportation company’s stock valued at $187,000 after buying an additional 837 shares during the last quarter. Rehmann Capital Advisory Group bought a new position in Alaska Air Group during the second quarter valued at about $201,000. Finally, Insight Capital Research & Management Inc. bought a new position in Alaska Air Group during the second quarter valued at about $215,000. Institutional investors and hedge funds own 88.34% of the company’s stock.
Shares of Alaska Air Group, Inc. (NYSE ALK) opened at 75.15 on Friday. The firm has a 50-day moving average price of $83.14 and a 200 day moving average price of $88.66. The stock has a market cap of $9.28 billion, a PE ratio of 12.22 and a beta of 1.00. Alaska Air Group, Inc. has a 12-month low of $64.19 and a 12-month high of $101.43.
Alaska Air Group (NYSE:ALK) last posted its earnings results on Wednesday, July 26th. The transportation company reported $2.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.52 by $0.01. The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Alaska Air Group had a return on equity of 30.04% and a net margin of 11.02%. The firm’s quarterly revenue was up 40.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.12 EPS. Equities research analysts expect that Alaska Air Group, Inc. will post $7.76 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Tuesday, August 22nd will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 18th. This represents a $1.20 annualized dividend and a dividend yield of 1.60%. Alaska Air Group’s dividend payout ratio is presently 19.48%.
Several equities analysts recently issued reports on ALK shares. ValuEngine lowered Alaska Air Group from a “strong-buy” rating to a “buy” rating in a research report on Friday. Stifel Nicolaus restated a “buy” rating and set a $145.00 price target on shares of Alaska Air Group in a research report on Friday, May 26th. BidaskClub upgraded Alaska Air Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Zacks Investment Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a research report on Tuesday, July 4th. Finally, Bank of America Corporation raised their price target on Alaska Air Group from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, June 30th. One analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $104.86.
In related news, SVP Joseph A. Sprague sold 7,000 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now owns 7,191 shares in the company, valued at approximately $653,302.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew R. Harrison sold 2,350 shares of the firm’s stock in a transaction on 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 owns 21,328 shares of the company’s stock, valued at approximately $1,834,847.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,850 shares of company stock valued at $2,149,881. Company 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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