Hi Line Capital Management LLC lifted its position in Alaska Air Group, Inc. (NYSE:ALK) by 0.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 90,839 shares of the transportation company’s stock after buying an additional 680 shares during the quarter. Alaska Air Group comprises approximately 2.7% of Hi Line Capital Management LLC’s holdings, making the stock its 16th largest position. Hi Line Capital Management LLC’s holdings in Alaska Air Group were worth $5,806,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of ALK. TRUE Private Wealth Advisors acquired a new position in Alaska Air Group during the 2nd quarter valued at $25,000. Icon Wealth Partners LLC acquired a new position in Alaska Air Group during the 1st quarter valued at $36,000. NuWave Investment Management LLC acquired a new position in Alaska Air Group during the 2nd quarter valued at $45,000. Sandy Spring Bank raised its stake in Alaska Air Group by 58.8% during the 1st quarter. Sandy Spring Bank now owns 794 shares of the transportation company’s stock valued at $45,000 after purchasing an additional 294 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in Alaska Air Group during the 2nd quarter valued at $64,000. Institutional investors and hedge funds own 88.45% of the company’s stock.
Shares of ALK stock opened at $66.26 on Friday. Alaska Air Group, Inc. has a 52-week low of $53.39 and a 52-week high of $74.83. The stock has a market cap of $8.01 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 0.51 and a beta of 0.86. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.61 and a current ratio of 0.63. The firm has a fifty day moving average of $61.88 and a 200-day moving average of $60.81.
Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, July 25th. The transportation company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.11 by $0.06. Alaska Air Group had a net margin of 6.00% and a return on equity of 16.28%. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the prior year, the company posted $1.66 EPS. The business’s revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts predict that Alaska Air Group, Inc. will post 5.91 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Tuesday, August 20th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, August 19th. Alaska Air Group’s dividend payout ratio is 31.39%.
In other news, VP Kyle B. Levine sold 2,430 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total value of $157,950.00. Following the completion of the transaction, the vice president now owns 8,039 shares in the company, valued at approximately $522,535. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.43% of the company’s stock.
Several equities analysts recently commented on ALK shares. ValuEngine cut shares of Alaska Air Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Macquarie cut shares of Alaska Air Group from an “outperform” rating to a “neutral” rating and cut their target price for the company from $79.00 to $63.00 in a research note on Monday, July 29th. Citigroup set a $66.00 target price on shares of Alaska Air Group and gave the company a “hold” rating in a research note on Friday, July 26th. Morgan Stanley upped their target price on shares of Alaska Air Group from $76.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Finally, Imperial Capital reiterated an “in-line” rating and set a $70.00 target price (up from $68.00) on shares of Alaska Air Group in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $73.36.
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.
Featured Story: Arbitrage
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).
Receive News & Ratings for Alaska Air Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alaska Air Group and related companies with MarketBeat.com's FREE daily email newsletter.