Magnetar Financial LLC Raises Position in Alaska Air Group, Inc. (ALK)
Magnetar Financial LLC increased its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 86.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,872 shares of the transportation company’s stock after purchasing an additional 10,637 shares during the quarter. Magnetar Financial LLC’s holdings in Alaska Air Group were worth $1,744,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. Mountain Capital Investment Advisors Inc acquired a new position in Alaska Air Group in the second quarter valued at $122,000. Mercer Capital Advisers Inc. acquired a new position in Alaska Air Group in the third quarter valued at $116,000. Bessemer Group Inc. increased its stake 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 purchasing an additional 695 shares during the last quarter. Pacer Advisors Inc. grew its position in Alaska Air Group by 8.1% during the second quarter. Pacer Advisors Inc. now owns 2,405 shares of the transportation company’s stock valued at $216,000 after acquiring an additional 181 shares during the period. Finally, Harbour Capital Advisors LLC purchased a new stake in Alaska Air Group during the third quarter valued at about $200,000. 88.46% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO David L. Campbell sold 4,934 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $68.00, for a total value of $335,512.00. Following the completion of the sale, the chief executive officer now owns 9,648 shares in the company, valued at $656,064. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrew R. Harrison sold 540 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $65.53, for a total value of $35,386.20. Following the completion of the sale, the executive vice president now owns 20,788 shares of the company’s stock, valued at approximately $1,362,237.64. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.
Several equities research analysts have recently weighed in on ALK shares. Barclays reaffirmed a “buy” rating on shares of Alaska Air Group in a research report on Thursday, September 14th. Cowen reaffirmed a “buy” rating and issued a $103.00 target price on shares of Alaska Air Group in a research report on Tuesday, September 12th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $125.00 target price on shares of Alaska Air Group in a research report on Saturday, September 23rd. ValuEngine cut Alaska Air Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Bank of America cut their price target on Alaska Air Group from $100.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, October 13th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $91.27.
Alaska Air Group, Inc. (NYSE ALK) opened at $69.37 on Friday. Alaska Air Group, Inc. has a fifty-two week low of $61.10 and a fifty-two week high of $101.43. The stock has a market capitalization of $8,346.14, a P/E ratio of 9.22 and a beta of 1.03. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.80 and a quick ratio of 0.78.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Wednesday, October 25th. The transportation company reported $2.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.02). The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.13 billion. Alaska Air Group had a return on equity of 28.74% and a net margin of 10.34%. The business’s quarterly revenue was up 35.4% compared to the same quarter last year. During the same period last year, the company earned $2.20 earnings per share. analysts anticipate that Alaska Air Group, Inc. will post 6.75 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 7th. Stockholders of record on Tuesday, November 21st were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Monday, November 20th. Alaska Air Group’s dividend payout ratio is presently 19.26%.
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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