Mackay Shields LLC Purchases Shares of 35,616 Alaska Air Group, Inc. (ALK)

Mackay Shields LLC acquired a new stake in shares of Alaska Air Group, Inc. (NYSE:ALK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 35,616 shares of the transportation company’s stock, valued at approximately $2,167,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Nisa Investment Advisors LLC grew its position in shares of Alaska Air Group by 0.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 22,600 shares of the transportation company’s stock worth $1,375,000 after acquiring an additional 200 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Alaska Air Group by 1.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 17,713 shares of the transportation company’s stock worth $1,078,000 after acquiring an additional 200 shares in the last quarter. Dupont Capital Management Corp grew its position in shares of Alaska Air Group by 14.9% in the 4th quarter. Dupont Capital Management Corp now owns 1,667 shares of the transportation company’s stock worth $101,000 after acquiring an additional 216 shares in the last quarter. Auxier Asset Management grew its position in shares of Alaska Air Group by 2.4% in the 3rd quarter. Auxier Asset Management now owns 12,815 shares of the transportation company’s stock worth $882,000 after acquiring an additional 300 shares in the last quarter. Finally, Private Advisor Group LLC grew its position in shares of Alaska Air Group by 7.2% in the 4th quarter. Private Advisor Group LLC now owns 4,569 shares of the transportation company’s stock worth $278,000 after acquiring an additional 306 shares in the last quarter. Hedge funds and other institutional investors own 88.29% of the company’s stock.

In other news, EVP Andrew R. Harrison sold 4,000 shares of the business’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $62.93, for a total value of $251,720.00. Following the sale, the executive vice president now owns 22,167 shares of the company’s stock, valued at approximately $1,394,969.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher Michael Berry sold 750 shares of the business’s stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $67.14, for a total value of $50,355.00. Following the completion of the sale, the vice president now directly owns 1,233 shares in the company, valued at approximately $82,783.62. The disclosure for this sale can be found here. Insiders have sold a total of 8,776 shares of company stock worth $551,687 in the last ninety days. 0.43% of the stock is owned by company insiders.

NYSE:ALK traded down $0.57 during midday trading on Monday, reaching $60.06. 1,020,051 shares of the company traded hands, compared to its average volume of 1,710,827. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.61 and a quick ratio of 0.59. The firm has a market capitalization of $7.46 billion, a P/E ratio of 13.47 and a beta of 0.81. Alaska Air Group, Inc. has a twelve month low of $53.39 and a twelve month high of $74.83.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, January 24th. The transportation company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.02. The firm had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.06 billion. Alaska Air Group had a return on equity of 15.20% and a net margin of 5.29%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.83 EPS. Research analysts anticipate that Alaska Air Group, Inc. will post 6.1 EPS for the current fiscal year.

Several research analysts have recently commented on ALK shares. Zacks Investment Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Monday, December 31st. Buckingham Research reduced their price objective on Alaska Air Group from $88.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, March 8th. Credit Suisse Group set a $76.00 price objective on Alaska Air Group and gave the company a “buy” rating in a research report on Friday. TheStreet lowered Alaska Air Group from a “b-” rating to a “c” rating in a research report on Thursday, January 24th. Finally, Vertical Research assumed coverage on Alaska Air Group in a research report on Monday, February 4th. They set a “hold” rating for the company. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Alaska Air Group currently has an average rating of “Buy” and a consensus price target of $76.03.

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Alaska Air Group Company Profile

Alaska Air Group, Inc, through its subsidiaries, provides passengers and cargo air transportation services. It also focuses on providing ground and ramp handling services to airlines. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 118 destinations across the United States, Mexico, Canada, and Costa Rica.

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

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