Prudential Financial Inc. decreased its position in Alaska Air Group Inc. (NYSE:ALK) by 65.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 221,024 shares of the company’s stock after selling 418,620 shares during the period. Prudential Financial Inc. owned approximately 0.18% of Alaska Air Group worth $12,884,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC bought a new stake in shares of Alaska Air Group during the first quarter valued at about $107,000. IFP Advisors Inc boosted its stake in 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 in the last quarter. Bancorpsouth Inc. acquired a new stake in Alaska Air Group during the first quarter worth $203,000. Pacad Investment Ltd. acquired a new stake in Alaska Air Group during the first quarter worth $262,000. Finally, Bessemer Group Inc. boosted its stake in 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 in the last quarter. Institutional investors own 88.73% of the company’s stock.
Alaska Air Group Inc. (NYSE:ALK) traded up 0.87% during mid-day trading on Monday, reaching $66.43. 211,347 shares of the company’s stock traded hands. The company has a market capitalization of $8.18 billion, a price-to-earnings ratio of 9.20 and a beta of 0.89. The company has a 50-day moving average of $67.15 and a 200-day moving average of $68.63. Alaska Air Group Inc. has a 52-week low of $54.51 and a 52-week high of $87.17.
Alaska Air Group (NYSE:ALK) last released its earnings results on Thursday, July 21st. The company reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.03. Alaska Air Group had a net margin of 15.86% and a return on equity of 36.88%. The company earned $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the firm earned $1.76 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. Equities research analysts expect that Alaska Air Group Inc. will post $7.05 EPS for the current year.
Several equities analysts have issued reports on the company. Vetr lowered Alaska Air Group from a “strong-buy” rating to a “buy” rating and set a $77.17 price objective on the stock. in a report on Tuesday, September 6th. Cowen and Company reissued a “buy” rating on shares of Alaska Air Group in a report on Wednesday, June 15th. Zacks Investment Research raised Alaska Air Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 16th. Raymond James Financial Inc. lowered Alaska Air Group from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $105.00 to $88.00 in a report on Tuesday, June 14th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Alaska Air Group in a report on Wednesday, June 15th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Alaska Air Group presently has a consensus rating of “Buy” and an average price target of $86.48.
In other news, VP Mark G. Eliasen sold 2,884 shares of the stock in a transaction on Friday, July 15th. The shares were sold at an average price of $65.00, for a total transaction of $187,460.00. Following the transaction, the vice president now owns 5,302 shares in the company, valued at approximately $344,630. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Bradley D. Tilden sold 4,000 shares of the stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $63.84, for a total transaction of $255,360.00. Following the transaction, the chief executive officer now owns 23,900 shares in the company, valued at approximately $1,525,776. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.
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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