Insider Selling: Alaska Air Group Insider Unloads 11,442 Shares of Stock (ALK)
Alaska Air Group (NYSE:ALK) Insider Glenn S. Johnson unloaded 11,442 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $97.39, for a total transaction of $1,114,336.38. Following the transaction, the insider now directly owns 422 shares of the company’s stock, valued at approximately $41,099. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on ALK shares. Analysts at Stifel Nicolaus downgraded shares of Alaska Air Group from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. They now have a $95.00 price target on the stock, down previously from $100.00. They noted that the move was a valuation call. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Alaska Air Group from $111.00 to $113.50 in a research note on Tuesday, May 27th. They now have an “overweight” rating on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Alaska Air Group in a research note on Thursday, May 1st. They now have a $111.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $99.74.
Alaska Air Group (NYSE:ALK) traded down 1.81% on Wednesday, hitting $95.81. 854,646 shares of the company’s stock traded hands. Alaska Air Group has a one year low of $51.16 and a one year high of $100.98. The stock has a 50-day moving average of $96.67 and a 200-day moving average of $87.91. The company has a market cap of $6.584 billion and a price-to-earnings ratio of 12.16. Alaska Air Group’s stock is set to split on the morning of Thursday, July 10th. The 2-1 split was announced on Thursday, June 12th. The newly issued shares will be issued to shareholders after the market closes on Wednesday, July 9th.
Alaska Air Group (NYSE:ALK) last released its earnings data on Friday, April 25th. The company reported $1.28 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.24 by $0.04. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. The company’s quarterly revenue was up 7.9% on a year-over-year basis. On average, analysts predict that Alaska Air Group will post $7.18 earnings per share for the current fiscal year.
Alaska Air Group, Inc is a holding company of Alaska Airlines, Inc (NYSE:ALK) and Horizon Air Industries, Inc (Horizon), which together with its partner regional airlines, serve 95 cities through an expansive network in Alaska, the Lower 48, Hawaii, Canada and Mexico.
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