Virtus Fund Advisers LLC raised its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 13.3% in the 4th quarter, HoldingsChannel reports. The firm owned 834,100 shares of the transportation company’s stock after acquiring an additional 97,975 shares during the period. Virtus Fund Advisers LLC’s holdings in Alaska Air Group were worth $61,315,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Exane Derivatives purchased a new position in Alaska Air Group during the fourth quarter valued at approximately $105,000. Mercer Capital Advisers Inc. purchased a new position in Alaska Air Group during the third quarter valued at approximately $116,000. Bank of Nova Scotia Trust Co. purchased a new position in Alaska Air Group during the third quarter valued at approximately $153,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Alaska Air Group by 55.3% during the fourth 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 in the last quarter. Finally, Harbour Capital Advisors LLC purchased a new position in Alaska Air Group during the third quarter valued at approximately $200,000. Hedge funds and other institutional investors own 88.17% of the company’s stock.
Several equities analysts recently commented on the stock. UBS Group cut shares of Alaska Air Group from a “buy” rating to a “neutral” rating in a research note on Thursday. Imperial Capital reaffirmed an “in-line” rating and set a $66.00 price objective (down previously from $70.00) on shares of Alaska Air Group in a research note on Thursday, February 1st. Buckingham Research reduced their price objective on shares of Alaska Air Group from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Cowen reduced their price objective on shares of Alaska Air Group from $100.00 to $89.00 and set an “outperform” rating for the company in a research note on Thursday, October 26th. Finally, Morgan Stanley reduced their price objective on shares of Alaska Air Group from $86.00 to $80.00 and set an “overweight” rating for the company in a research note on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $87.68.
Alaska Air Group, Inc. (NYSE:ALK) opened at $64.97 on Monday. The company has a quick ratio of 0.77, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. Alaska Air Group, Inc. has a 12 month low of $59.25 and a 12 month high of $101.43. The company has a market cap of $7,991.09, a P/E ratio of 9.80, a price-to-earnings-growth ratio of 3.34 and a beta of 0.85.
Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Thursday, January 25th. The transportation company reported $0.83 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.83. Alaska Air Group had a net margin of 12.96% and a return on equity of 24.39%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the company earned $1.56 EPS. The business’s quarterly revenue was up 28.7% compared to the same quarter last year. sell-side analysts expect that Alaska Air Group, Inc. will post 5.73 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Tuesday, February 20th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Friday, February 16th. This is a boost from Alaska Air Group’s previous quarterly dividend of $0.30. Alaska Air Group’s payout ratio is currently 14.49%.
In other news, VP Christopher Michael Berry sold 460 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $97.00, for a total value of $44,620.00. Following the completion of the sale, the vice president now directly owns 1,997 shares in the company, valued at approximately $193,709. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David L. Campbell sold 4,934 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $68.00, for a total transaction of $335,512.00. Following the completion of the sale, the chief executive officer now owns 9,648 shares of the company’s stock, valued at $656,064. The disclosure for this sale can be found here. In the last three months, insiders sold 5,934 shares of company stock valued at $415,518. Corporate insiders own 0.57% of the company’s stock.
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Alaska Air Group 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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