Alaska Air Group (NYSE:ALK) CEO Gary L. Beck sold 6,360 shares of the stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $65.10, for a total transaction of $414,036.00. Following the completion of the transaction, the chief executive officer now owns 3,316 shares in the company, valued at $215,871.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of ALK stock traded down $4.21 during trading hours on Monday, hitting $57.75. 3,570,288 shares of the company were exchanged, compared to its average volume of 2,619,049. The company has a quick ratio of 0.77, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. Alaska Air Group has a 52 week low of $57.60 and a 52 week high of $95.75. The company has a market capitalization of $7,620.87, a price-to-earnings ratio of 8.70, a P/E/G ratio of 0.96 and a beta of 0.75.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Thursday, January 25th. The transportation company reported $0.83 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.83. Alaska Air Group had a net margin of 12.96% and a return on equity of 24.39%. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the firm earned $1.56 earnings per share. The firm’s revenue was up 28.7% compared to the same quarter last year. equities analysts expect that Alaska Air Group will post 5.69 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 8th. Stockholders of record on Tuesday, February 20th were given a dividend of $0.32 per share. This is an increase from Alaska Air Group’s previous quarterly dividend of $0.30. The ex-dividend date was Friday, February 16th. This represents a $1.28 annualized dividend and a dividend yield of 2.22%. Alaska Air Group’s dividend payout ratio is currently 19.28%.
Several brokerages recently weighed in on ALK. Zacks Investment Research upgraded shares of Alaska Air Group from a “sell” rating to a “hold” rating in a report on Tuesday, March 27th. Buckingham Research cut their target price on shares of Alaska Air Group from $90.00 to $88.00 and set a “buy” rating on the stock in a report on Friday, January 26th. Imperial Capital reiterated an “in-line” rating and issued a $66.00 target price (down from $70.00) on shares of Alaska Air Group in a report on Thursday, February 1st. Morgan Stanley set a $78.00 target price on shares of Alaska Air Group and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Cowen reiterated an “outperform” rating and issued a $84.00 target price (down from $93.00) on shares of Alaska Air Group in a report on Friday, January 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Alaska Air Group currently has an average rating of “Buy” and a consensus price target of $84.69.
Several hedge funds have recently modified their holdings of the company. Exane Derivatives bought a new position in Alaska Air Group in the fourth quarter valued at $105,000. Bank of Nova Scotia Trust Co. bought a new position in Alaska Air Group in the third quarter valued at $153,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Alaska Air Group by 55.3% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,495 shares of the transportation company’s stock valued at $186,000 after purchasing an additional 888 shares in the last quarter. Harbour Capital Advisors LLC bought a new position in Alaska Air Group in the third quarter valued at $200,000. Finally, Wetherby Asset Management Inc. bought a new position in Alaska Air Group in the fourth quarter valued at $206,000. 86.33% of the stock is owned by institutional investors.
About Alaska Air Group
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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