Los Angeles Capital Management & Equity Research Inc. lowered its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 22.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,916 shares of the transportation company’s stock after selling 6,723 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Alaska Air Group were worth $2,057,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Two Sigma Securities LLC acquired a new position in Alaska Air Group during the 1st quarter valued at approximately $955,000. Schroder Investment Management Group boosted its position in Alaska Air Group by 84.1% during the 1st quarter. Schroder Investment Management Group now owns 547,645 shares of the transportation company’s stock valued at $51,292,000 after purchasing an additional 250,245 shares during the period. Principal Financial Group Inc. boosted its position in Alaska Air Group by 149.3% during the 2nd quarter. Principal Financial Group Inc. now owns 1,230,588 shares of the transportation company’s stock valued at $110,457,000 after purchasing an additional 737,020 shares during the period. Baltimore Capital Management Inc. boosted its position in Alaska Air Group by 505.0% during the 2nd quarter. Baltimore Capital Management Inc. now owns 38,570 shares of the transportation company’s stock valued at $3,462,000 after purchasing an additional 32,195 shares during the period. Finally, Oxford Asset Management acquired a new position in Alaska Air Group during the 1st quarter valued at approximately $3,425,000. Institutional investors and hedge funds own 88.34% of the company’s stock.

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In other Alaska Air Group news, EVP Andrew R. Harrison sold 2,350 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $86.03, for a total value of $202,170.50. Following the transaction, the executive vice president now directly owns 21,328 shares in the company, valued at approximately $1,834,847.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Bradley D. Tilden sold 5,600 shares of the stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $94.48, for a total value of $529,088.00. Following the completion of the transaction, the chairman now owns 145,546 shares in the company, valued at $13,751,186.08. The disclosure for this sale can be found here. Insiders sold a total of 10,350 shares of company stock worth $937,251 over the last quarter. Corporate insiders own 0.57% of the company’s stock.

Alaska Air Group, Inc. (NYSE:ALK) opened at 75.28 on Friday. The firm’s 50-day moving average price is $79.30 and its 200-day moving average price is $87.26. The firm has a market cap of $9.30 billion, a price-to-earnings ratio of 12.24 and a beta of 1.00. Alaska Air Group, Inc. has a 12 month low of $64.19 and a 12 month high of $101.43.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.52 by ($0.01). Alaska Air Group had a net margin of 11.02% and a return on equity of 30.04%. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same period in the prior year, the business earned $2.12 earnings per share. The company’s revenue for the quarter was up 40.7% on a year-over-year basis. Equities research analysts predict that Alaska Air Group, Inc. will post $7.67 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Tuesday, August 22nd were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.59%. Alaska Air Group’s payout ratio is 19.48%.

A number of research analysts recently issued reports on ALK shares. BidaskClub lowered Alaska Air Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Morgan Stanley restated an “overweight” rating on shares of Alaska Air Group in a research report on Tuesday, September 12th. ValuEngine lowered Alaska Air Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research lowered Alaska Air Group from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Cowen and Company restated a “buy” rating and set a $103.00 price objective on shares of Alaska Air Group in a research report on Tuesday, September 12th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $106.55.

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.

Institutional Ownership by Quarter for Alaska Air Group (NYSE:ALK)

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