Atlantic Investment Management Inc. Purchases New Stake in Alaska Air Group, Inc. (ALK)
Atlantic Investment Management Inc. bought a new position in shares of Alaska Air Group, Inc. (NYSE:ALK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 95,000 shares of the transportation company’s stock, valued at approximately $7,246,000. Alaska Air Group makes up approximately 0.9% of Atlantic Investment Management Inc.’s portfolio, making the stock its 9th largest position. Atlantic Investment Management Inc. owned 0.08% of Alaska Air Group at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Schroder Investment Management Group boosted its stake in shares of Alaska Air Group by 41.2% in the second quarter. Schroder Investment Management Group now owns 773,245 shares of the transportation company’s stock valued at $68,897,000 after buying an additional 225,600 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Alaska Air Group by 78.0% during the second quarter. JPMorgan Chase & Co. now owns 805,723 shares of the transportation company’s stock worth $72,323,000 after purchasing an additional 353,166 shares during the last quarter. Legal & General Group Plc raised its holdings in Alaska Air Group by 11.3% during the second quarter. Legal & General Group Plc now owns 161,010 shares of the transportation company’s stock worth $14,453,000 after purchasing an additional 16,407 shares during the last quarter. Financial Engines Advisors L.L.C. raised its holdings in Alaska Air Group by 3.9% during the third quarter. Financial Engines Advisors L.L.C. now owns 43,883 shares of the transportation company’s stock worth $3,347,000 after purchasing an additional 1,650 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Alaska Air Group by 149.3% during the second quarter. Principal Financial Group Inc. now owns 1,230,588 shares of the transportation company’s stock worth $110,457,000 after purchasing an additional 737,020 shares during the last quarter. 88.46% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently weighed in on ALK shares. Imperial Capital cut their price target on Alaska Air Group from $85.00 to $70.00 and set a “line” rating for the company in a report on Thursday, October 26th. Morgan Stanley reissued an “overweight” rating on shares of Alaska Air Group in a research report on Tuesday, September 12th. BidaskClub downgraded Alaska Air Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. Bank of America cut their price target on shares of Alaska Air Group from $100.00 to $96.00 and set a “buy” rating for the company in a research note on Friday, October 13th. Finally, UBS upgraded shares of Alaska Air Group from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $91.27.
Alaska Air Group, Inc. (ALK) opened at $69.37 on Friday. The company has a market cap of $8,346.14, a P/E ratio of 9.22 and a beta of 1.03. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.80 and a quick ratio of 0.78. Alaska Air Group, Inc. has a 52 week low of $61.10 and a 52 week high of $101.43.
Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Wednesday, October 25th. The transportation company reported $2.24 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.02). The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.13 billion. Alaska Air Group had a return on equity of 28.74% and a net margin of 10.34%. The company’s revenue for the quarter was up 35.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.20 earnings per share. equities analysts expect that Alaska Air Group, Inc. will post 6.75 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 7th. Stockholders of record on Tuesday, November 21st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Monday, November 20th. Alaska Air Group’s dividend payout ratio (DPR) is currently 19.26%.
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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