Westwood Holdings Group Inc. Increases Stake in Alaska Air Group, Inc. (NYSE:ALK)
Westwood Holdings Group Inc. lifted its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 6.0% during the first quarter, Holdings Channel reports. The fund owned 224,288 shares of the transportation company’s stock after purchasing an additional 12,623 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Alaska Air Group were worth $12,587,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Investors Research Corp purchased a new position in shares of Alaska Air Group during the first quarter worth approximately $28,000. Icon Wealth Partners LLC purchased a new position in shares of Alaska Air Group during the first quarter worth approximately $36,000. Sandy Spring Bank grew its position in shares of Alaska Air Group by 58.8% during the first quarter. Sandy Spring Bank now owns 794 shares of the transportation company’s stock worth $45,000 after acquiring an additional 294 shares during the last quarter. Quadrant Capital Group LLC grew its position in shares of Alaska Air Group by 762.7% during the first quarter. Quadrant Capital Group LLC now owns 949 shares of the transportation company’s stock worth $52,000 after acquiring an additional 839 shares during the last quarter. Finally, Enlightenment Research LLC purchased a new position in shares of Alaska Air Group during the fourth quarter worth approximately $61,000. Institutional investors and hedge funds own 88.43% of the company’s stock.
In other Alaska Air Group news, EVP Andrew R. Harrison sold 1,600 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $61.53, for a total value of $98,448.00. Following the completion of the sale, the executive vice president now owns 20,567 shares of the company’s stock, valued at $1,265,487.51. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Andrew R. Harrison sold 4,700 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $62.63, for a total value of $294,361.00. Following the completion of the sale, the executive vice president now directly owns 15,867 shares of the company’s stock, valued at approximately $993,750.21. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by company insiders.
Alaska Air Group (NYSE:ALK) last released its earnings results on Thursday, April 25th. The transportation company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. Alaska Air Group had a return on equity of 14.97% and a net margin of 5.26%. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the company earned $0.14 earnings per share. Alaska Air Group’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, analysts expect that Alaska Air Group, Inc. will post 5.7 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Tuesday, May 21st were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Monday, May 20th. Alaska Air Group’s dividend payout ratio (DPR) is currently 31.39%.
A number of brokerages have recently issued reports on ALK. Zacks Investment Research upgraded shares of Alaska Air Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. upgraded shares of Alaska Air Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $71.00 to $72.00 in a research report on Tuesday, April 30th. ValuEngine lowered shares of Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. Deutsche Bank lowered their price objective on shares of Alaska Air Group from $73.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Finally, Credit Suisse Group set a $76.00 price objective on shares of Alaska Air Group and gave the company a “buy” rating in a research report on Friday, April 12th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Alaska Air Group currently has an average rating of “Buy” and a consensus price target of $76.43.
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Alaska Air Group Profile
Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 115 destinations across the United States, Mexico, Canada, and Costa Rica.
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