Victory Capital Management Inc. Has $42.05 Million Position in Alaska Air Group, Inc. (ALK)
Victory Capital Management Inc. reduced its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 21.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 468,429 shares of the transportation company’s stock after selling 129,356 shares during the period. Victory Capital Management Inc. owned 0.38% of Alaska Air Group worth $42,047,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of ALK. Bessemer Group Inc. increased its position in shares of 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 in the last quarter. Twin Tree Management LP acquired a new position in shares of Alaska Air Group during the first quarter valued at approximately $179,000. Assetmark Inc. increased its position in shares of 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 in the last quarter. Rehmann Capital Advisory Group acquired a new position in shares of Alaska Air Group during the second quarter valued at approximately $201,000. Finally, Insight Capital Research & Management Inc. acquired a new position in shares of Alaska Air Group during the second quarter valued at approximately $215,000. Hedge funds and other institutional investors own 88.34% of the company’s stock.
Alaska Air Group, Inc. (NYSE ALK) opened at 74.38 on Wednesday. The stock’s 50 day moving average price is $85.76 and its 200-day moving average price is $89.47. Alaska Air Group, Inc. has a 12-month low of $64.19 and a 12-month high of $101.43. The firm has a market cap of $9.19 billion, a PE ratio of 12.10 and a beta of 0.95.
Alaska Air Group (NYSE:ALK) last released its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.51 EPS 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 the consensus estimate of $2.10 billion. During the same period last year, the company earned $2.12 EPS. The firm’s revenue for the quarter was up 40.7% on a year-over-year basis. Equities research analysts anticipate that Alaska Air Group, Inc. will post $7.76 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Tuesday, August 22nd will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Friday, August 18th. Alaska Air Group’s dividend payout ratio (DPR) is presently 19.48%.
ALK has been the subject of several research reports. Stifel Nicolaus reissued a “buy” rating and set a $145.00 price target on shares of Alaska Air Group in a report on Friday, May 26th. BidaskClub cut Alaska Air Group from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Bank of America Corporation lifted their price target on Alaska Air Group from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, June 30th. Cowen and Company reissued an “outperform” rating and set a $103.00 price target on shares of Alaska Air Group in a report 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 for the company in a report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $104.86.
In other Alaska Air Group news, SVP Joseph A. Sprague sold 7,000 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $90.85, for a total transaction of $635,950.00. Following the completion of the transaction, the senior vice president now owns 7,191 shares of the company’s stock, valued at approximately $653,302.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Bradley D. Tilden sold 6,500 shares of the 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 directly owns 148,446 shares of the company’s stock, valued at approximately $13,170,129.12. The disclosure for this sale can be found here. Insiders have sold a total of 23,850 shares of company stock valued at $2,149,881 in the last three months. 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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