Insider Selling: Alaska Air Group, Inc. (ALK) SVP Sells 7,000 Shares of Stock
Alaska Air Group, Inc. (NYSE:ALK) SVP Joseph A. Sprague sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $90.85, for a total value of $635,950.00. Following the sale, the senior vice president now directly owns 7,191 shares of the company’s stock, valued at approximately $653,302.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Alaska Air Group, Inc. (NYSE:ALK) traded up 0.37% during mid-day trading on Friday, reaching $88.74. The company had a trading volume of 1,218,465 shares. The company has a market capitalization of $10.97 billion, a price-to-earnings ratio of 15.11 and a beta of 0.96. The company has a 50 day moving average price of $86.43 and a 200 day moving average price of $90.60. Alaska Air Group, Inc. has a one year low of $54.51 and a one year high of $101.43.
Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Wednesday, April 26th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.01. Alaska Air Group had a net margin of 11.51% and a return on equity of 30.01%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the company earned $1.45 earnings per share. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, analysts anticipate that Alaska Air Group, Inc. will post $7.98 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 8th. Shareholders of record on Tuesday, May 23rd were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Friday, May 19th. Alaska Air Group’s dividend payout ratio is currently 20.41%.
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Several equities research analysts recently commented on the company. J P Morgan Chase & Co set a $116.00 target price on Alaska Air Group and gave the stock a “buy” rating in a research note on Saturday, April 1st. Imperial Capital reduced their price objective on Alaska Air Group from $101.00 to $98.00 and set an “in-line” rating for the company in a research note on Friday, March 31st. Stifel Nicolaus reissued a “buy” rating and issued a $145.00 price objective on shares of Alaska Air Group in a research note on Friday, May 26th. Morgan Stanley reissued an “overweight” rating on shares of Alaska Air Group in a research note on Friday, April 7th. Finally, Zacks Investment Research cut Alaska Air Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 7th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $105.04.
A number of institutional investors have recently added to or reduced their stakes in the company. ING Groep NV raised its position in Alaska Air Group by 55.6% in the fourth quarter. ING Groep NV now owns 7,111 shares of the transportation company’s stock valued at $630,000 after buying an additional 2,542 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Alaska Air Group during the fourth quarter valued at about $8,493,000. Auxier Asset Management raised its position in Alaska Air Group by 4.1% in the third quarter. Auxier Asset Management now owns 5,120 shares of the transportation company’s stock valued at $337,000 after buying an additional 200 shares in the last quarter. ETRADE Capital Management LLC raised its stake in shares of Alaska Air Group by 13.6% in the third quarter. ETRADE Capital Management LLC now owns 9,892 shares of the transportation company’s stock worth $651,000 after buying an additional 1,183 shares during the period. Finally, Brinker Capital Inc. bought a new stake in shares of Alaska Air Group during the third quarter worth $716,000. 91.96% of the stock is currently owned by institutional investors and hedge funds.
About Alaska Air Group
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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