Tillar Wenstrup Advisors LLC acquired a new position in shares of Alaska Air Group Inc. (NYSE:ALK) during the second quarter, Holdings Channel reports. The firm acquired 20,416 shares of the company’s stock, valued at approximately $1,190,000.
Several other hedge funds have also recently bought and sold shares of the stock. Acrospire Investment Management LLC purchased a new stake in Alaska Air Group during the first quarter worth about $107,000. IFP Advisors Inc raised its stake in shares of Alaska Air Group by 21.9% in the first quarter. IFP Advisors Inc now owns 2,243 shares of the company’s stock worth $184,000 after buying an additional 403 shares during the period. Bancorpsouth Inc. bought a new stake in shares of Alaska Air Group during the first quarter worth about $203,000. Pacad Investment Ltd. bought a new stake in shares of Alaska Air Group during the first quarter worth about $262,000. Finally, Bessemer Group Inc. raised its stake in shares of Alaska Air Group by 122.4% in the first quarter. Bessemer Group Inc. now owns 3,407 shares of the company’s stock worth $279,000 after buying an additional 1,875 shares during the period. Institutional investors own 88.73% of the company’s stock.
Alaska Air Group Inc. (NYSE:ALK) traded up 1.87% during midday trading on Monday, reaching $67.09. 1,041,913 shares of the company traded hands. The company has a 50-day moving average price of $67.15 and a 200-day moving average price of $68.63. Alaska Air Group Inc. has a 12-month low of $54.51 and a 12-month high of $87.17. The company has a market cap of $8.26 billion, a price-to-earnings ratio of 9.29 and a beta of 0.89.
Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, July 21st. The company reported $2.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.09 by $0.03. Alaska Air Group had a return on equity of 36.88% and a net margin of 15.86%. The company earned $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the company posted $1.76 earnings per share. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, analysts predict that Alaska Air Group Inc. will post $7.05 earnings per share for the current fiscal year.
ALK has been the subject of a number of research analyst reports. Cowen and Company restated a “buy” rating on shares of Alaska Air Group in a research note on Wednesday, June 15th. Morgan Stanley restated a “buy” rating and issued a $85.00 price target on shares of Alaska Air Group in a research note on Thursday, August 11th. Credit Suisse Group AG set a $85.00 price target on shares of Alaska Air Group and gave the stock a “buy” rating in a research note on Tuesday, September 13th. Vetr lowered shares of Alaska Air Group from a “strong-buy” rating to a “buy” rating and set a $77.17 price target for the company. in a research note on Tuesday, September 6th. Finally, Zacks Investment Research upgraded shares of Alaska Air Group from a “sell” rating to a “hold” rating in a research note on Tuesday, August 16th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $86.48.
In related news, VP Mark G. Eliasen sold 2,884 shares of the firm’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $65.00, for a total value of $187,460.00. Following the transaction, the vice president now owns 5,302 shares in the company, valued at $344,630. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Brandon Pedersen sold 9,943 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $70.52, for a total value of $701,180.36. Following the completion of the transaction, the vice president now owns 13,360 shares in the company, valued at approximately $942,147.20. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.
About Alaska Air Group
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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