32,070 Shares in Alaska Air Group, Inc. (NYSE:ALK) Purchased by Baltimore Capital Management Inc.

Baltimore Capital Management Inc. purchased a new stake in Alaska Air Group, Inc. (NYSE:ALK) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 32,070 shares of the transportation company’s stock, valued at approximately $1,800,000. Alaska Air Group comprises 2.9% of Baltimore Capital Management Inc.’s holdings, making the stock its 9th largest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc grew its stake in Alaska Air Group by 1.1% in the 3rd quarter. Vanguard Group Inc now owns 12,380,127 shares of the transportation company’s stock valued at $852,494,000 after buying an additional 130,958 shares during the last quarter. BlackRock Inc. grew its stake in Alaska Air Group by 1.6% in the 4th quarter. BlackRock Inc. now owns 7,031,099 shares of the transportation company’s stock valued at $427,843,000 after buying an additional 113,985 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Alaska Air Group by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,940,696 shares of the transportation company’s stock valued at $165,021,000 after buying an additional 57,015 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in Alaska Air Group by 34.6% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 2,257,103 shares of the transportation company’s stock valued at $126,669,000 after buying an additional 579,823 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in Alaska Air Group by 1,307.7% in the 1st quarter. Victory Capital Management Inc. now owns 1,947,067 shares of the transportation company’s stock valued at $109,269,000 after buying an additional 1,808,754 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

A number of research analysts have issued reports on the stock. Morgan Stanley increased their target price on shares of Alaska Air Group from $76.00 to $81.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. JPMorgan Chase & Co. upgraded shares of Alaska Air Group from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $71.00 to $72.00 in a research report on Tuesday, April 30th. Deutsche Bank decreased their target price on shares of Alaska Air Group from $73.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Zacks Investment Research upgraded shares of Alaska Air Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Finally, Credit Suisse Group set a $76.00 target price on shares of Alaska Air Group and gave the stock a “buy” rating in a research report on Friday, April 12th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Alaska Air Group presently has a consensus rating of “Buy” and an average target price of $76.43.

Shares of Alaska Air Group stock opened at $60.96 on Thursday. Alaska Air Group, Inc. has a 1-year low of $53.39 and a 1-year high of $74.83. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 0.44. The company has a market cap of $7.51 billion, a PE ratio of 13.53, a PEG ratio of 0.62 and a beta of 0.84.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Thursday, April 25th. The transportation company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.04. Alaska Air Group had a net margin of 5.26% and a return on equity of 14.97%. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the firm posted $0.14 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. On average, research analysts forecast that Alaska Air Group, Inc. will post 5.7 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Tuesday, May 21st were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Monday, May 20th. Alaska Air Group’s dividend payout ratio (DPR) is presently 31.39%.

In related news, EVP Andrew R. Harrison sold 1,600 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $61.53, for a total value of $98,448.00. Following the completion of the transaction, the executive vice president now owns 20,567 shares of the company’s stock, valued at approximately $1,265,487.51. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Andrew R. Harrison sold 4,700 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $62.63, for a total transaction of $294,361.00. Following the completion of the transaction, the executive vice president now directly owns 15,867 shares of the company’s stock, valued at approximately $993,750.21. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This article was first published by American Banking News and is owned by of American Banking News. If you are reading this article on another publication, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this article can be viewed at https://www.americanbankingnews.com/2019/06/13/32070-shares-in-alaska-air-group-inc-nysealk-purchased-by-baltimore-capital-management-inc.html.

Alaska Air Group Company Profile

Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 115 destinations across the United States, Mexico, Canada, and Costa Rica.

See Also: How interest rates affect municipal bond prices

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