Sandy Spring Bank Boosts Position in Alaska Air Group, Inc. (ALK)

Sandy Spring Bank increased its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 58.8% in the first quarter, HoldingsChannel reports. The firm owned 794 shares of the transportation company’s stock after purchasing an additional 294 shares during the quarter. Sandy Spring Bank’s holdings in Alaska Air Group were worth $45,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Teachers Advisors LLC increased its stake in Alaska Air Group by 86.9% during the 3rd quarter. Teachers Advisors LLC now owns 504,618 shares of the transportation company’s stock valued at $34,748,000 after buying an additional 234,626 shares during the period. TIAA CREF Investment Management LLC increased its stake in Alaska Air Group by 28.6% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 465,625 shares of the transportation company’s stock valued at $32,063,000 after buying an additional 103,615 shares during the period. Vanguard Group Inc increased its stake in Alaska Air Group by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 12,380,127 shares of the transportation company’s stock valued at $852,494,000 after buying an additional 130,958 shares during the period. First Hawaiian Bank increased its stake in Alaska Air Group by 2,553.0% during the 4th quarter. First Hawaiian Bank now owns 2,202 shares of the transportation company’s stock valued at $134,000 after buying an additional 2,119 shares during the period. Finally, Sit Investment Associates Inc. increased its stake in Alaska Air Group by 1.1% during the 4th quarter. Sit Investment Associates Inc. now owns 43,460 shares of the transportation company’s stock valued at $2,645,000 after buying an additional 475 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

Shares of ALK opened at $62.64 on Friday. The company has a market capitalization of $7.60 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 0.75 and a beta of 0.84. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.57 and a current ratio of 0.59. Alaska Air Group, Inc. has a 12-month low of $53.39 and a 12-month high of $74.83.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, April 25th. The transportation company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Alaska Air Group had a net margin of 5.26% and a return on equity of 14.97%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the company posted $0.14 earnings per share. As a group, research analysts forecast that Alaska Air Group, Inc. will post 5.75 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Tuesday, May 21st will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Monday, May 20th. Alaska Air Group’s dividend payout ratio is currently 31.39%.

Several research firms have commented on ALK. Vertical Research began coverage on shares of Alaska Air Group in a research note on Monday, February 4th. They set a “hold” rating on the stock. Macquarie raised shares of Alaska Air Group from a “neutral” rating to an “outperform” rating and set a $63.48 target price on the stock in a research note on Monday, January 28th. Imperial Capital reissued an “outperform” rating and set a $90.00 target price (down previously from $93.00) on shares of Alaska Air Group in a research note on Monday, January 28th. TheStreet cut shares of Alaska Air Group from a “b-” rating to a “c” rating in a research note on Thursday, January 24th. Finally, Deutsche Bank lowered their price objective on shares of Alaska Air Group from $73.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Alaska Air Group currently has a consensus rating of “Buy” and an average price target of $76.10.

In related news, EVP Andrew R. Harrison sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $62.93, for a total transaction of $251,720.00. Following the completion of the sale, the executive vice president now directly owns 22,167 shares in the company, valued at $1,394,969.31. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Brandon Pedersen sold 4,026 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $62.00, for a total transaction of $249,612.00. Following the sale, the vice president now owns 26,524 shares of the company’s stock, valued at $1,644,488. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,626 shares of company stock valued at $599,780. 0.43% of the stock is currently owned by corporate insiders.

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About Alaska Air Group

Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 115 destinations across the United States, Mexico, Canada, and Costa Rica.

Read More: Index Funds

Want to see what other hedge funds are holding ALK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alaska Air Group, Inc. (NYSE:ALK).

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

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