Cannell Peter B & Co. Inc. Has $22.99 Million Position in Alaska Air Group, Inc. (ALK)
Cannell Peter B & Co. Inc. increased its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 48.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 256,125 shares of the transportation company’s stock after buying an additional 83,725 shares during the period. Cannell Peter B & Co. Inc. owned approximately 0.21% of Alaska Air Group worth $22,990,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of ALK. Bessemer Group Inc. increased 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 worth $171,000 after buying an additional 695 shares during the period. Twin Tree Management LP bought a new position in Alaska Air Group during the first quarter worth $179,000. Assetmark Inc. increased 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 worth $187,000 after buying an additional 837 shares during the period. Rehmann Capital Advisory Group bought a new position in Alaska Air Group during the second quarter worth $201,000. Finally, Insight Capital Research & Management Inc. bought a new position in Alaska Air Group during the second quarter worth $215,000. 88.34% of the stock is currently owned by institutional investors.
Alaska Air Group, Inc. (NYSE ALK) traded up 0.08% during mid-day trading on Friday, hitting $74.72. 182,619 shares of the company were exchanged. The company’s 50-day moving average is $83.66 and its 200 day moving average is $88.83. The company has a market capitalization of $9.23 billion, a P/E ratio of 12.15 and a beta of 0.95. 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 announced its quarterly earnings data 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. 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 analyst estimates of $2.10 billion. During the same quarter in the prior year, the company posted $2.12 EPS. Alaska Air Group’s revenue for the quarter was up 40.7% on a year-over-year basis. Analysts expect that Alaska Air Group, Inc. will post $7.76 EPS for the current year.
The business 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 1.61%. Alaska Air Group’s dividend payout ratio is currently 19.48%.
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A number of research analysts have recently weighed in on the company. Stifel Nicolaus reissued a “buy” rating and issued a $145.00 price target on shares of Alaska Air Group in a research note on Friday, May 26th. BidaskClub downgraded Alaska Air Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Bank of America Corporation increased their price target 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. Cowen and Company reissued an “outperform” rating and issued a $103.00 price target on shares of Alaska Air Group in a research note on Tuesday, June 20th. Finally, Zacks Investment Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a research note on Tuesday, July 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $104.86.
In other news, EVP Andrew R. Harrison sold 2,350 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $86.03, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Bradley D. Tilden sold 6,500 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $88.72, for a total transaction of $576,680.00. Following the transaction, the chairman now owns 148,446 shares in the company, valued at approximately $13,170,129.12. The disclosure for this sale can be found here. Insiders have sold 23,850 shares of company stock worth $2,149,881 in the last quarter. Company insiders own 0.57% of the company’s stock.
Alaska Air Group Company 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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