Scout Investments Inc. decreased its position in Alaska Air Group, Inc. (NYSE:ALK) by 41.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 305,310 shares of the transportation company’s stock after selling 214,258 shares during the period. Scout Investments Inc. owned approximately 0.25% of Alaska Air Group worth $19,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of the stock. Fulton Bank N.A. raised its stake in Alaska Air Group by 3.9% in the 3rd quarter. Fulton Bank N.A. now owns 12,802 shares of the transportation company’s stock worth $831,000 after acquiring an additional 479 shares during the last quarter. Atria Investments LLC raised its stake in Alaska Air Group by 63.4% in the 2nd quarter. Atria Investments LLC now owns 5,912 shares of the transportation company’s stock worth $354,000 after acquiring an additional 2,294 shares during the last quarter. BlackRock Inc. raised its stake in Alaska Air Group by 1.5% in the 2nd quarter. BlackRock Inc. now owns 7,067,885 shares of the transportation company’s stock worth $451,708,000 after acquiring an additional 103,191 shares during the last quarter. Griffin Asset Management Inc. purchased a new position in Alaska Air Group in the 2nd quarter worth $73,000. Finally, UBS Group AG raised its stake in Alaska Air Group by 11.2% in the 2nd quarter. UBS Group AG now owns 486,349 shares of the transportation company’s stock worth $31,082,000 after acquiring an additional 49,116 shares during the last quarter. Institutional investors own 88.38% of the company’s stock.
Shares of NYSE:ALK traded up $1.17 during trading on Wednesday, reaching $64.35. 6,447 shares of the company’s stock traded hands, compared to its average volume of 1,284,469. Alaska Air Group, Inc. has a fifty-two week low of $53.39 and a fifty-two week high of $74.83. The company has a quick ratio of 0.61, a current ratio of 0.63 and a debt-to-equity ratio of 0.75. The firm has a market cap of $7.83 billion, a PE ratio of 14.40, a P/E/G ratio of 0.49 and a beta of 0.85. The company has a 50-day simple moving average of $62.70 and a 200-day simple moving average of $61.65.
Alaska Air Group (NYSE:ALK) last posted its earnings results on Thursday, July 25th. The transportation company reported $2.17 EPS for the quarter, beating the Zacks’ consensus estimate of $2.11 by $0.06. Alaska Air Group had a return on equity of 16.28% and a net margin of 6.00%. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period last year, the firm earned $1.66 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities research analysts forecast that Alaska Air Group, Inc. will post 5.96 EPS for the current year.
In other news, VP Kyle B. Levine sold 2,430 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total transaction of $157,950.00. Following the sale, the vice president now directly owns 8,039 shares in the company, valued at approximately $522,535. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.43% of the stock is owned by company insiders.
A number of research firms have weighed in on ALK. Imperial Capital reiterated an “in-line” rating and set a $70.00 price objective (up previously from $68.00) on shares of Alaska Air Group in a research note on Tuesday, August 6th. Morgan Stanley reduced their price objective on Alaska Air Group from $81.00 to $74.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Citigroup set a $66.00 price objective on Alaska Air Group and gave the company a “hold” rating in a research note on Friday, July 26th. Macquarie lowered Alaska Air Group from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $79.00 to $63.00 in a research note on Monday, July 29th. Finally, TheStreet upgraded Alaska Air Group from a “c” rating to a “b” rating in a research note on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $72.86.
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.
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