Financial Insights Inc. bought a new stake in shares of Alaska Air Group, Inc. (NYSE:ALK) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 853 shares of the transportation company’s stock, valued at approximately $51,000.
A number of other institutional investors have also made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Alaska Air Group during the first quarter valued at $27,000. Ameritas Investment Company LLC purchased a new position in shares of Alaska Air Group during the first quarter valued at $30,000. Exchange Traded Concepts LLC boosted its position in Alaska Air Group by 78.0% during the second quarter. Exchange Traded Concepts LLC now owns 534 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 234 shares during the last quarter. Crewe Advisors LLC boosted its position in Alaska Air Group by 10,833.3% during the second quarter. Crewe Advisors LLC now owns 656 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 650 shares during the last quarter. Finally, First Command Bank boosted its position in Alaska Air Group by 111.9% during the second quarter. First Command Bank now owns 763 shares of the transportation company’s stock valued at $46,000 after purchasing an additional 403 shares during the last quarter. 75.03% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on ALK. MKM Partners started coverage on Alaska Air Group in a research report on Thursday, June 10th. They set a “buy” rating and a $81.00 price objective for the company. Raymond James reduced their price target on Alaska Air Group from $85.00 to $78.00 and set a “strong-buy” rating for the company in a research report on Tuesday, July 20th. Wolfe Research raised Alaska Air Group from a “peer perform” rating to an “outperform” rating in a research report on Friday, June 18th. Finally, Morgan Stanley cut their price objective on Alaska Air Group from $89.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday, September 14th. One investment analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Alaska Air Group presently has a consensus rating of “Buy” and a consensus price target of $77.70.
Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Wednesday, July 21st. The transportation company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.14. Alaska Air Group had a negative net margin of 15.52% and a negative return on equity of 37.62%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the business earned ($3.54) earnings per share. The business’s quarterly revenue was up 262.7% compared to the same quarter last year. On average, equities research analysts anticipate that Alaska Air Group, Inc. will post -1.43 EPS for the current year.
In other Alaska Air Group news, Chairman Bradley D. Tilden sold 4,875 shares of the business’s stock in a transaction dated Monday, August 2nd. The shares were sold at an average price of $58.72, for a total value of $286,260.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 14,665 shares of company stock valued at $862,324 over the last ninety days. 0.73% of the stock is currently owned by insiders.
About Alaska Air Group
Alaska Air Group, Inc is a holding company, which engages in the provision of air transportation services. It operates through the following segments: Mainline, Regional and Horizon. The Mainline segment includes Alaska’s Boeing or Airbus jet aircraft for passengers and cargo throughout the U.S., and in parts of Canada, Mexico, and Costa Rica.
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