Amalgamated Bank boosted its stake in Alaska Air Group, Inc. (NYSE:ALK) by 5.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,147 shares of the transportation company’s stock after acquiring an additional 1,307 shares during the quarter. Amalgamated Bank’s holdings in Alaska Air Group were worth $1,682,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Tillar Wenstrup Advisors LLC boosted its holdings in Alaska Air Group by 24.9% in the 1st quarter. Tillar Wenstrup Advisors LLC now owns 32,117 shares of the transportation company’s stock worth $1,990,000 after acquiring an additional 6,408 shares during the period. CIBC World Markets Inc. boosted its holdings in Alaska Air Group by 109.2% in the 1st quarter. CIBC World Markets Inc. now owns 11,145 shares of the transportation company’s stock worth $691,000 after acquiring an additional 5,817 shares during the period. Moors & Cabot Inc. purchased a new position in Alaska Air Group in the 1st quarter worth approximately $202,000. Coldstream Capital Management Inc. boosted its holdings in Alaska Air Group by 25.4% in the 1st quarter. Coldstream Capital Management Inc. now owns 16,661 shares of the transportation company’s stock worth $1,032,000 after acquiring an additional 3,377 shares during the period. Finally, TLP Group LLC purchased a new position in Alaska Air Group in the 1st quarter worth approximately $226,000. Hedge funds and other institutional investors own 92.83% of the company’s stock.
Alaska Air Group stock opened at $60.63 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.71 and a quick ratio of 0.69. The company has a market cap of $7.75 billion, a PE ratio of 9.13 and a beta of 0.76. Alaska Air Group, Inc. has a 52 week low of $57.53 and a 52 week high of $95.75.
Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Monday, April 23rd. The transportation company reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.03. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.83 billion. Alaska Air Group had a return on equity of 20.43% and a net margin of 11.64%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.12 EPS. analysts forecast that Alaska Air Group, Inc. will post 4.87 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 7th. Investors of record on Tuesday, May 22nd were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, May 21st. Alaska Air Group’s dividend payout ratio is currently 19.28%.
Several research firms have recently commented on ALK. Citigroup reduced their target price on Alaska Air Group from $69.00 to $68.00 and set a “neutral” rating for the company in a research note on Monday, June 18th. Imperial Capital reiterated an “in-line” rating and set a $71.00 target price (up from $68.00) on shares of Alaska Air Group in a research note on Tuesday, April 24th. ValuEngine cut Alaska Air Group from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Morgan Stanley reduced their target price on Alaska Air Group from $77.00 to $74.00 and set a “buy” rating for the company in a research note on Thursday, April 12th. Finally, Zacks Investment Research cut Alaska Air Group from a “hold” rating to a “sell” rating in a research note on Tuesday, March 20th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Alaska Air Group presently has an average rating of “Hold” and a consensus target price of $84.00.
In related news, EVP Andrew R. Harrison sold 1,600 shares of the company’s stock in a transaction that occurred on Friday, May 25th. The stock was sold at an average price of $61.87, for a total transaction of $98,992.00. Following the sale, the executive vice president now directly owns 22,492 shares of the company’s stock, valued at approximately $1,391,580.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.56% of the company’s stock.
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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