Insider Selling: Joseph A. Sprague Sells 3,000 Shares of Alaska Air Group Stock (ALK)
Alaska Air Group (NYSE:ALK) SVP Joseph A. Sprague unloaded 3,000 shares of the stock on the open market in a transaction dated Friday, August 29th. The shares were sold at an average price of $46.38, for a total transaction of $139,140.00. Following the transaction, the senior vice president now directly owns 15,644 shares of the company’s stock, valued at approximately $725,569. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Alaska Air Group (NYSE:ALK) traded down 0.41% on Friday, hitting $46.34. 577,833 shares of the company’s stock traded hands. Alaska Air Group has a one year low of $28.035 and a one year high of $50.49. The stock has a 50-day moving average of $46.16 and a 200-day moving average of $46.30. The company has a market cap of $6.250 billion and a P/E ratio of 10.42.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, September 4th. Investors of record on Tuesday, August 19th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Friday, August 15th.
A number of analysts have recently weighed in on ALK shares. Analysts at Zacks downgraded shares of Alaska Air Group from an “outperform” rating to a “neutral” rating in a research note on Friday, August 1st. They now have a $46.20 price target on the stock. Separately, analysts at JPMorgan Chase & Co. downgraded shares of Alaska Air Group from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 30th. They now have a $53.50 price target on the stock, down previously from $56.50. Finally, analysts at Imperial Capital raised their price target on shares of Alaska Air Group from $56.00 to $60.00 in a research note on Tuesday, July 29th. They now have an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Alaska Air Group presently has an average rating of “Hold” and an average price target of $51.39.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.