Insider Selling: Alaska Air Group, Inc. (ALK) Chairman Sells 4,700 Shares of Stock
Alaska Air Group, Inc. (NYSE:ALK) Chairman Bradley D. Tilden sold 4,700 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $84.63, for a total transaction of $397,761.00. Following the sale, the chairman now owns 148,646 shares of the company’s stock, valued at $12,579,910.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Alaska Air Group, Inc. (NYSE:ALK) traded up 2.21% on Friday, hitting $84.57. 1,201,626 shares of the stock were exchanged. Alaska Air Group, Inc. has a one year low of $54.51 and a one year high of $101.43. The company has a market cap of $10.45 billion, a P/E ratio of 14.40 and a beta of 0.80. The company’s 50 day moving average price is $87.13 and its 200-day moving average price is $88.90.
Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Wednesday, April 26th. The transportation company reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.01. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.77 billion. Alaska Air Group had a return on equity of 33.50% and a net margin of 13.72%. The business’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.45 EPS. Equities research analysts predict that Alaska Air Group, Inc. will post $7.93 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 8th. Shareholders of record on Tuesday, May 23rd will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Friday, May 19th. Alaska Air Group’s dividend payout ratio (DPR) is 16.79%.
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Several research firms have issued reports on ALK. Morgan Stanley boosted their price objective on shares of Alaska Air Group from $102.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, April 28th. Cowen and Company upgraded shares of Alaska Air Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $102.00 to $103.00 in a research note on Monday, April 24th. JPMorgan Chase & Co. set a $116.00 price objective on shares of Alaska Air Group and gave the stock a “buy” rating in a research note on Saturday, April 1st. Imperial Capital decreased their price objective on shares of Alaska Air Group from $101.00 to $98.00 and set an “in-line” rating for the company in a research note on Friday, March 31st. Finally, Vetr upgraded shares of Alaska Air Group from a “hold” rating to a “strong-buy” rating and set a $124.48 price objective for the company in a research note on Monday, March 20th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $103.62.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Mackenzie Financial Corp bought a new position in Alaska Air Group during the first quarter valued at $64,763,000. Price T Rowe Associates Inc. MD raised its position in Alaska Air Group by 15.8% in the third quarter. Price T Rowe Associates Inc. MD now owns 11,267,436 shares of the transportation company’s stock worth $742,073,000 after buying an additional 1,536,507 shares during the last quarter. BlackRock Inc. raised its position in Alaska Air Group by 4,899.5% in the first quarter. BlackRock Inc. now owns 6,979,699 shares of the transportation company’s stock worth $643,668,000 after buying an additional 6,840,090 shares during the last quarter. State Street Corp raised its position in Alaska Air Group by 4.8% in the first quarter. State Street Corp now owns 4,553,574 shares of the transportation company’s stock worth $419,926,000 after buying an additional 208,195 shares during the last quarter. Finally, FMR LLC raised its position in Alaska Air Group by 48.3% in the first quarter. FMR LLC now owns 1,810,921 shares of the transportation company’s stock worth $167,003,000 after buying an additional 589,937 shares during the last quarter. 89.01% of the stock is currently owned by hedge funds and other institutional investors.
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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