Alaska Air Group, Inc. (ALK) Stake Increased by BlackRock Inc.

BlackRock Inc. raised its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 4,899.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,979,699 shares of the transportation company’s stock after buying an additional 6,840,090 shares during the period. BlackRock Inc.’s holdings in Alaska Air Group were worth $643,668,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the stock. Mackenzie Financial Corp acquired a new stake in shares of Alaska Air Group during the first quarter valued at approximately $64,763,000. FMR LLC raised its stake in shares of Alaska Air Group by 48.3% in the first quarter. FMR LLC now owns 1,810,921 shares of the transportation company’s stock valued at $167,003,000 after buying an additional 589,937 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Alaska Air Group by 3.2% in the first quarter. Geode Capital Management LLC now owns 1,221,333 shares of the transportation company’s stock valued at $112,506,000 after buying an additional 37,413 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Alaska Air Group by 1.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,207,619 shares of the transportation company’s stock valued at $111,373,000 after buying an additional 14,704 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of Alaska Air Group by 4.5% in the first quarter. Morgan Stanley now owns 1,112,492 shares of the transportation company’s stock valued at $102,593,000 after buying an additional 48,406 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

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

Shares of Alaska Air Group, Inc. (NYSE ALK) traded up 0.2910% during mid-day trading on Thursday, hitting $91.0943. The stock had a trading volume of 493,231 shares. The firm has a market cap of $11.26 billion, a PE ratio of 15.5160 and a beta of 0.96. The stock’s 50-day moving average price is $86.73 and its 200-day moving average price is $90.81. Alaska Air Group, Inc. has a 52-week low of $54.51 and a 52-week high of $101.43.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Wednesday, April 26th. The transportation company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. Alaska Air Group had a return on equity of 30.01% and a net margin of 11.51%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the firm posted $1.45 EPS. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. On average, analysts anticipate that Alaska Air Group, Inc. will post $8.08 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 8th. Stockholders of record on Tuesday, May 23rd were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, May 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.32%. Alaska Air Group’s dividend payout ratio is currently 20.41%.

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Several research analysts have issued reports on ALK shares. J P Morgan Chase & Co set a $116.00 price target on Alaska Air Group and gave the stock a “buy” rating in a report on Saturday, April 1st. Imperial Capital cut their price target on Alaska Air Group from $101.00 to $98.00 and set an “in-line” rating on the stock in a report on Friday, March 31st. Cowen and Company reiterated a “market perform” rating and issued a $102.00 price target on shares of Alaska Air Group in a report on Monday, April 17th. Morgan Stanley reiterated an “overweight” rating on shares of Alaska Air Group in a report on Friday, April 7th. Finally, Stifel Nicolaus upgraded Alaska Air Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $105.00 to $145.00 in a report on Monday, March 20th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Alaska Air Group has a consensus rating of “Buy” and an average price target of $105.04.

In other news, Chairman Bradley D. Tilden sold 6,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $88.72, for a total value of $576,680.00. Following the sale, the chairman now directly owns 148,446 shares of the company’s stock, valued at approximately $13,170,129.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Bradley D. Tilden sold 4,700 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $84.63, for a total value of $397,761.00. Following the completion of the sale, the chairman now directly owns 148,646 shares in the company, valued at $12,579,910.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,800 shares of company stock worth $2,118,591. Insiders own 0.57% of the company’s stock.

Alaska Air Group Company 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “ALK”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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