Credit Suisse AG Raises Stake in Alaska Air Group, Inc. (ALK)

Credit Suisse AG grew its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 4.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 163,581 shares of the transportation company’s stock after acquiring an additional 6,772 shares during the period. Credit Suisse AG owned about 0.13% of Alaska Air Group worth $11,264,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Centaurus Financial Inc. purchased a new position in shares of Alaska Air Group in the 2nd quarter valued at $118,000. IFP Advisors Inc raised its stake in shares of Alaska Air Group by 98.1% in the 3rd quarter. IFP Advisors Inc now owns 2,758 shares of the transportation company’s stock valued at $190,000 after acquiring an additional 1,366 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of Alaska Air Group by 38.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,238 shares of the transportation company’s stock valued at $196,000 after acquiring an additional 900 shares during the period. Regentatlantic Capital LLC purchased a new position in shares of Alaska Air Group in the 3rd quarter valued at $205,000. Finally, Mitchell Mcleod Pugh & Williams Inc. purchased a new position in shares of Alaska Air Group in the 3rd quarter valued at $209,000. 93.00% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have recently commented on the stock. ValuEngine downgraded shares of Alaska Air Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Bank of America reaffirmed a “neutral” rating and set a $71.00 price target (up from $63.00) on shares of Alaska Air Group in a report on Thursday, November 29th. Buckingham Research raised their price target on shares of Alaska Air Group from $74.00 to $88.00 and gave the company a “buy” rating in a report on Friday, November 30th. Imperial Capital raised their price target on shares of Alaska Air Group from $90.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, November 29th. Finally, Barclays raised their price target on shares of Alaska Air Group from $68.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, November 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $80.07.

ALK opened at $64.94 on Friday. The firm has a market cap of $8.58 billion, a P/E ratio of 15.33, a PEG ratio of 2.31 and a beta of 0.61. Alaska Air Group, Inc. has a twelve month low of $57.53 and a twelve month high of $76.06. The company has a quick ratio of 0.69, a current ratio of 0.71 and a debt-to-equity ratio of 0.44.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Thursday, October 25th. The transportation company reported $1.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.81 by $0.10. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.20 billion. Alaska Air Group had a net margin of 9.57% and a return on equity of 15.51%. Equities analysts forecast that Alaska Air Group, Inc. will post 4.32 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, December 6th. Investors of record on Tuesday, November 20th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Monday, November 19th. Alaska Air Group’s payout ratio is 19.28%.

In other Alaska Air Group news, Director J Kenneth Thompson sold 2,500 shares of the firm’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $73.12, for a total transaction of $182,800.00. Following the completion of the transaction, the director now directly owns 36,353 shares of the company’s stock, valued at approximately $2,658,131.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Andrew R. Harrison sold 930 shares of the firm’s stock in a transaction on Monday, October 29th. The stock was sold at an average price of $62.55, for a total transaction of $58,171.50. Following the transaction, the executive vice president now directly owns 21,562 shares of the company’s stock, valued at $1,348,703.10. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by company insiders.

COPYRIGHT VIOLATION NOTICE: This story was published by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another publication, it was copied illegally and reposted in violation of US and international copyright and trademark law. The correct version of this story can be accessed at https://www.americanbankingnews.com/2018/12/08/credit-suisse-ag-raises-stake-in-alaska-air-group-inc-alk.html.

About Alaska Air Group

Alaska Air Group, Inc, through its subsidiaries, provides passengers and cargo air transportation services. It also focuses on providing ground and ramp handling services to airlines. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 118 destinations across the United States, Mexico, Canada, and Costa Rica.

Recommended Story: Outstanding Shares, Buying and Selling Stocks

Institutional Ownership by Quarter for Alaska Air Group (NYSE:ALK)

Receive News & Ratings for Alaska Air Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alaska Air Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply