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.
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