Joseph A. Sprague Sells 6,667 Shares of Alaska Air Group Inc. (ALK) Stock
Alaska Air Group Inc. (NYSE:ALK) SVP Joseph A. Sprague sold 6,667 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $75.00, for a total value of $500,025.00. Following the completion of the sale, the senior vice president now directly owns 6,620 shares of the company’s stock, valued at approximately $496,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Alaska Air Group Inc. (NYSE:ALK) opened at 77.83 on Tuesday. The firm has a 50 day moving average price of $70.91 and a 200 day moving average price of $66.74. Alaska Air Group Inc. has a 52 week low of $54.51 and a 52 week high of $87.17. The company has a market capitalization of $9.59 billion, a price-to-earnings ratio of 10.91 and a beta of 0.71.
Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, October 20th. The company reported $2.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.07 by $0.13. Alaska Air Group had a return on equity of 34.91% and a net margin of 15.40%. The company earned $1.56 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the company earned $2.16 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities analysts forecast that Alaska Air Group Inc. will post $7.02 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Thursday, November 10th. Alaska Air Group’s dividend payout ratio (DPR) is presently 15.41%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Panagora Asset Management Inc. raised its position in Alaska Air Group by 37.5% in the third quarter. Panagora Asset Management Inc. now owns 695,188 shares of the company’s stock worth $45,785,000 after buying an additional 189,586 shares during the period. Fuller & Thaler Asset Management Inc. raised its position in Alaska Air Group by 30.0% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,600 shares of the company’s stock worth $171,000 after buying an additional 600 shares during the period. Clinton Group Inc. raised its position in Alaska Air Group by 750.5% in the third quarter. Clinton Group Inc. now owns 153,649 shares of the company’s stock worth $10,119,000 after buying an additional 135,584 shares during the period. Ontario Teachers Pension Plan Board raised its position in Alaska Air Group by 33.7% in the third quarter. Ontario Teachers Pension Plan Board now owns 7,519 shares of the company’s stock worth $495,000 after buying an additional 1,896 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new position in Alaska Air Group during the third quarter worth $8,819,000. 89.26% of the stock is owned by institutional investors.
A number of equities research analysts have commented on the company. Credit Suisse Group AG raised Alaska Air Group from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $70.00 to $85.00 in a research note on Monday, July 25th. Zacks Investment Research cut Alaska Air Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 18th. JPMorgan Chase & Co. raised Alaska Air Group from a “neutral” rating to an “overweight” rating and set a $78.50 price objective for the company in a research note on Wednesday, July 27th. Vetr cut Alaska Air Group from a “hold” rating to a “sell” rating and set a $72.00 price objective for the company. in a research note on Thursday, November 10th. Finally, Imperial Capital raised their price objective on Alaska Air Group from $74.00 to $84.00 and gave the company an “in-line” rating in a research note on Friday, October 21st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $86.27.
Alaska Air Group Company Profile
Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska) and Horizon Air (Horizon). The Company operates through three segments: Alaska Mainline, Alaska Regional and Horizon. Its Alaska Mainline segment operates the Boeing 737 part of Alaska’s business. It offers north/south service within the western United States, Canada, Mexico and Costa Rica, as well as passenger and dedicated cargo services to and within the state of Alaska.
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