Engineers Gate Manager LP Buys New Holdings in Alaska Air Group, Inc. (ALK)

Engineers Gate Manager LP bought a new stake in Alaska Air Group, Inc. (NYSE:ALK) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 40,813 shares of the transportation company’s stock, valued at approximately $3,113,000.

A number of other institutional investors have also recently modified their holdings of the stock. Schroder Investment Management Group raised its position in Alaska Air Group by 41.2% in the second quarter. Schroder Investment Management Group now owns 773,245 shares of the transportation company’s stock valued at $68,897,000 after purchasing an additional 225,600 shares during the period. JPMorgan Chase & Co. raised its position in Alaska Air Group by 78.0% in the second quarter. JPMorgan Chase & Co. now owns 805,723 shares of the transportation company’s stock valued at $72,323,000 after purchasing an additional 353,166 shares during the period. Legal & General Group Plc raised its position in Alaska Air Group by 11.3% in the second quarter. Legal & General Group Plc now owns 161,010 shares of the transportation company’s stock valued at $14,453,000 after purchasing an additional 16,407 shares during the period. Financial Engines Advisors L.L.C. raised its position in Alaska Air Group by 3.9% in the third quarter. Financial Engines Advisors L.L.C. now owns 43,883 shares of the transportation company’s stock valued at $3,347,000 after purchasing an additional 1,650 shares during the period. Finally, Principal Financial Group Inc. raised its position in Alaska Air Group by 149.3% in the second quarter. Principal Financial Group Inc. now owns 1,230,588 shares of the transportation company’s stock valued at $110,457,000 after purchasing an additional 737,020 shares during the period. Hedge funds and other institutional investors own 88.46% of the company’s stock.

Several research analysts have commented on ALK shares. Morgan Stanley cut their price objective on Alaska Air Group from $101.00 to $96.00 and set an “overweight” rating on the stock in a research report on Thursday, August 17th. BidaskClub lowered Alaska Air Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. ValuEngine lowered Alaska Air Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research lowered Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Finally, Cowen reaffirmed a “buy” rating and set a $103.00 target price on shares of Alaska Air Group in a research report on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company. Alaska Air Group presently has a consensus rating of “Buy” and a consensus target price of $91.27.

In related news, CEO David L. Campbell sold 4,934 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $68.00, for a total transaction of $335,512.00. Following the sale, the chief executive officer now owns 9,648 shares of the company’s stock, valued at $656,064. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Andrew R. Harrison sold 540 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $65.53, for a total value of $35,386.20. Following the sale, the executive vice president now directly owns 20,788 shares in the company, valued at approximately $1,362,237.64. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.

Shares of Alaska Air Group, Inc. (NYSE ALK) opened at $67.83 on Thursday. The company has a quick ratio of 0.78, a current ratio of 0.80 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $8,379.36, a PE ratio of 9.25 and a beta of 1.03. Alaska Air Group, Inc. has a fifty-two week low of $61.10 and a fifty-two week high of $101.43.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Wednesday, October 25th. The transportation company reported $2.24 EPS for the quarter, missing the Zacks’ consensus estimate of $2.26 by ($0.02). Alaska Air Group had a net margin of 10.34% and a return on equity of 28.74%. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the firm earned $2.20 earnings per share. The business’s revenue was up 35.4% on a year-over-year basis. equities analysts anticipate that Alaska Air Group, Inc. will post 6.75 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Tuesday, November 21st will be paid a $0.30 dividend. The ex-dividend date is Monday, November 20th. This represents a $1.20 dividend on an annualized basis and a yield of 1.77%. Alaska Air Group’s payout ratio is currently 19.26%.

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About Alaska Air Group

Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska), Virgin America Inc, Horizon Air (Horizon) and other business units. The Company operates through three segments: Mainline, Regional and Horizon. Its Mainline segment includes Alaska’s and Virgin America’s scheduled air transportation for passengers and cargo throughout the United States, and in parts of Canada, Mexico, Costa Rica and Cuba.

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

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