Engineers Gate Manager LP bought a new stake in shares of Alaska Air Group, Inc. (NYSE:ALK) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 40,813 shares of the transportation company’s stock, valued at approximately $3,113,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in ALK. Egerton Capital UK LLP increased its position in Alaska Air Group by 51.6% in the 3rd quarter. Egerton Capital UK LLP now owns 4,476,494 shares of the transportation company’s stock worth $341,422,000 after purchasing an additional 1,524,149 shares during the last quarter. Principal Financial Group Inc. increased its position in Alaska Air Group by 149.3% in the 2nd quarter. Principal Financial Group Inc. now owns 1,230,588 shares of the transportation company’s stock worth $110,457,000 after purchasing an additional 737,020 shares during the last quarter. Janus Henderson Group PLC acquired a new position in Alaska Air Group in the 2nd quarter worth about $57,891,000. Ardevora Asset Management LLP acquired a new position in Alaska Air Group in the 3rd quarter worth about $33,124,000. Finally, JPMorgan Chase & Co. increased its position in Alaska Air Group by 78.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 805,723 shares of the transportation company’s stock worth $72,323,000 after purchasing an additional 353,166 shares during the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.
Alaska Air Group, Inc. (ALK) traded down $1.06 during trading on Friday, hitting $73.51. The company had a trading volume of 1,038,493 shares, compared to its average volume of 1,604,997. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.80 and a quick ratio of 0.78. Alaska Air Group, Inc. has a 1-year low of $61.10 and a 1-year high of $101.43. The company has a market cap of $9,175.91, a P/E ratio of 11.80 and a beta of 1.03.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 7th. Shareholders of record on Tuesday, November 21st were given a $0.30 dividend. The ex-dividend date was Monday, November 20th. This represents a $1.20 annualized dividend and a yield of 1.63%. Alaska Air Group’s payout ratio is 19.26%.
In other news, CEO David L. Campbell sold 4,934 shares of Alaska Air Group stock in a transaction on Monday, December 4th. The stock was sold at an average price of $68.00, for a total value of $335,512.00. Following the completion of the sale, the chief executive officer now directly owns 9,648 shares of the company’s stock, valued at approximately $656,064. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrew R. Harrison sold 540 shares of Alaska Air Group stock in a transaction on Monday, November 27th. The shares were sold at an average price of $65.53, for a total value of $35,386.20. Following the completion of the sale, the executive vice president now directly owns 20,788 shares of the company’s stock, valued at $1,362,237.64. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.
Several brokerages have weighed in on ALK. Barclays dropped their target price on Alaska Air Group from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, October 26th. Cowen lowered their price objective on Alaska Air Group from $103.00 to $100.00 and set an “outperform” rating on the stock in a report on Thursday, September 14th. Morgan Stanley reissued an “overweight” rating on shares of Alaska Air Group in a report on Monday, September 18th. Stifel Nicolaus lowered their price objective on Alaska Air Group from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, October 26th. Finally, Deutsche Bank lowered their target price on Alaska Air Group from $99.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $91.18.
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Alaska Air Group Company Profile
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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