State of Alaska Department of Revenue Sells 978 Shares of Alaska Air Group, Inc. (NYSE:ALK)

State of Alaska Department of Revenue cut its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 3.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,296 shares of the transportation company’s stock after selling 978 shares during the quarter. State of Alaska Department of Revenue’s holdings in Alaska Air Group were worth $1,615,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. AE Wealth Management LLC acquired a new stake in shares of Alaska Air Group in the second quarter valued at $1,251,000. Jag Capital Management LLC increased its stake in shares of Alaska Air Group by 1.6% in the second quarter. Jag Capital Management LLC now owns 18,633 shares of the transportation company’s stock valued at $1,191,000 after buying an additional 299 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Alaska Air Group by 4.0% in the second quarter. Commonwealth Equity Services LLC now owns 26,020 shares of the transportation company’s stock valued at $1,663,000 after buying an additional 993 shares in the last quarter. Machina Capital S.A.S. acquired a new stake in shares of Alaska Air Group in the second quarter valued at $68,000. Finally, NuWave Investment Management LLC acquired a new stake in shares of Alaska Air Group in the second quarter valued at $45,000. 88.19% of the stock is owned by institutional investors.

A number of brokerages recently commented on ALK. Credit Suisse Group set a $76.00 price objective on Alaska Air Group and gave the stock a “buy” rating in a research report on Friday, April 12th. Macquarie lowered Alaska Air Group from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $79.00 to $63.00 in a research report on Monday, July 29th. ValuEngine lowered Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Thursday. Imperial Capital reiterated an “in-line” rating and issued a $68.00 price objective (up from $61.00) on shares of Alaska Air Group in a research report on Wednesday, June 19th. Finally, Zacks Investment Research upgraded Alaska Air Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $73.21.

ALK traded down $1.53 during midday trading on Monday, reaching $61.74. 14,207 shares of the company were exchanged, compared to its average volume of 1,148,860. The company has a quick ratio of 0.57, a current ratio of 0.63 and a debt-to-equity ratio of 0.75. Alaska Air Group, Inc. has a one year low of $53.39 and a one year high of $74.83. The firm has a market cap of $7.72 billion, a PE ratio of 13.88, a P/E/G ratio of 0.50 and a beta of 0.86. The company’s 50-day simple moving average is $63.60.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, July 25th. The transportation company reported $2.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.06. Alaska Air Group had a return on equity of 16.28% and a net margin of 6.00%. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter last year, the business earned $1.66 earnings per share. The company’s revenue was up 6.1% compared to the same quarter last year. Equities analysts expect that Alaska Air Group, Inc. will post 5.93 EPS for the current year.

In other Alaska Air Group news, VP Kyle B. Levine sold 2,430 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total transaction of $157,950.00. Following the transaction, the vice president now owns 8,039 shares in the company, valued at $522,535. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Andrew R. Harrison sold 1,600 shares of Alaska Air Group stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $61.53, for a total value of $98,448.00. Following the transaction, the executive vice president now owns 20,567 shares in the company, valued at approximately $1,265,487.51. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,730 shares of company stock worth $550,759. Company insiders own 0.43% of the company’s stock.

Alaska Air Group Profile

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.

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

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