Logan Capital Management Inc. cut its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 16.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,779 shares of the transportation company’s stock after selling 3,225 shares during the period. Logan Capital Management Inc.’s holdings in Alaska Air Group were worth $1,233,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Exane Derivatives purchased a new position in Alaska Air Group during the fourth quarter worth about $105,000. Mercer Capital Advisers Inc. purchased a new stake in shares of Alaska Air Group in the 3rd quarter valued at approximately $116,000. Bank of Nova Scotia Trust Co. purchased a new stake in shares of Alaska Air Group in the 3rd quarter valued at approximately $153,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Alaska Air Group by 55.3% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,495 shares of the transportation company’s stock valued at $186,000 after acquiring an additional 888 shares during the period. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of Alaska Air Group in the 3rd quarter valued at approximately $200,000. 88.17% of the stock is currently owned by institutional investors.
Alaska Air Group, Inc. (NYSE ALK) opened at $64.17 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. The firm has a market cap of $7,956.65, a P/E ratio of 7.75, a P/E/G ratio of 3.33 and a beta of 0.85. Alaska Air Group, Inc. has a twelve month low of $59.25 and a twelve month high of $101.43.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Tuesday, February 20th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.99%. This is a boost from Alaska Air Group’s previous quarterly dividend of $0.30. Alaska Air Group’s payout ratio is 15.46%.
ALK has been the topic of a number of research analyst reports. Imperial Capital reduced their price target on shares of Alaska Air Group from $85.00 to $70.00 and set a “line” rating on the stock in a research note on Thursday, October 26th. UBS Group raised shares of Alaska Air Group from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, November 15th. Zacks Investment Research raised shares of Alaska Air Group from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. ValuEngine raised shares of Alaska Air Group from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Buckingham Research reduced their price target on shares of Alaska Air Group from $98.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 26th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $87.68.
In related news, VP Brandon Pedersen sold 2,700 shares of Alaska Air Group stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $65.14, for a total value of $175,878.00. Following the completion of the transaction, the vice president now owns 26,888 shares in the company, valued at $1,751,484.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David L. Campbell sold 4,934 shares of Alaska Air Group stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $68.00, for a total transaction of $335,512.00. Following the completion of the transaction, the chief executive officer now owns 9,648 shares of the company’s stock, valued at approximately $656,064. The disclosure for this sale can be found here. Insiders sold 8,634 shares of company stock valued at $591,396 in the last 90 days. Company insiders own 0.57% of the company’s stock.
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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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