Scout Investments Inc. Boosts Position in Alaska Air Group, Inc. (ALK)
Scout Investments Inc. boosted its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 75.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 376,851 shares of the transportation company’s stock after buying an additional 161,551 shares during the period. Alaska Air Group makes up approximately 1.0% of Scout Investments Inc.’s holdings, making the stock its 12th largest position. Scout Investments Inc. owned about 0.31% of Alaska Air Group worth $33,826,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Breton Hill Capital Ltd. purchased a new position in Alaska Air Group during the first quarter worth approximately $267,000. Two Sigma Securities LLC purchased a new position in Alaska Air Group during the first quarter worth approximately $955,000. Schroder Investment Management Group increased its position in Alaska Air Group by 84.1% in the first quarter. Schroder Investment Management Group now owns 547,645 shares of the transportation company’s stock worth $51,292,000 after buying an additional 250,245 shares in the last quarter. Oxford Asset Management purchased a new position in Alaska Air Group during the first quarter worth approximately $3,425,000. Finally, Clearbridge Investments LLC increased its position in Alaska Air Group by 1.6% in the first quarter. Clearbridge Investments LLC now owns 1,211,718 shares of the transportation company’s stock worth $111,745,000 after buying an additional 18,600 shares in the last quarter. Hedge funds and other institutional investors own 88.34% of the company’s stock.
Shares of Alaska Air Group, Inc. (NYSE ALK) traded down 1.14% during mid-day trading on Wednesday, reaching $73.53. The company had a trading volume of 188,044 shares. The company has a market capitalization of $9.08 billion, a PE ratio of 11.96 and a beta of 0.95. Alaska Air Group, Inc. has a 1-year low of $64.19 and a 1-year high of $101.43. The stock’s 50-day moving average price is $85.76 and its 200 day moving average price is $89.47.
Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.51 EPS for the quarter, missing the Zacks’ consensus estimate of $2.52 by $0.01. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Alaska Air Group had a net margin of 11.02% and a return on equity of 30.04%. Alaska Air Group’s revenue for the quarter was up 40.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.12 EPS. Equities analysts expect that Alaska Air Group, Inc. will post $7.76 EPS 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 given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Friday, August 18th. Alaska Air Group’s dividend payout ratio is currently 19.48%.
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ALK has been the subject of a number of research reports. BidaskClub downgraded Alaska Air Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Morgan Stanley lowered their target price on Alaska Air Group from $101.00 to $96.00 and set an “overweight” rating for the company in a research report on Thursday, August 17th. Zacks Investment Research downgraded Alaska Air Group from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Cowen and Company reiterated an “outperform” rating and set a $103.00 target price on shares of Alaska Air Group in a research report on Tuesday, June 20th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $145.00 target price on shares of Alaska Air Group in a research report on Friday, May 26th. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $104.86.
In other news, EVP Andrew R. Harrison sold 2,350 shares of Alaska Air Group 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 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 document filed with the SEC, which is available through the SEC website. Also, Chairman Bradley D. Tilden sold 2,400 shares of Alaska Air Group stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $85.83, for a total value of $205,992.00. Following the completion of the sale, the chairman now directly owns 140,346 shares of the company’s stock, valued at approximately $12,045,897.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,850 shares of company stock valued at $2,149,881. 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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