Morse Asset Management Inc Invests $1.14 Million in Alaska Air Group, Inc. (ALK) Stock
Morse Asset Management Inc acquired a new stake in Alaska Air Group, Inc. (NYSE:ALK) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 18,800 shares of the transportation company’s stock, valued at approximately $1,135,000.
Other large investors also recently added to or reduced their stakes in the company. Camarda Financial Advisors LLC purchased a new stake in shares of Alaska Air Group during the second quarter worth about $101,000. Mount Yale Investment Advisors LLC purchased a new stake in shares of Alaska Air Group during the first quarter worth about $105,000. Centaurus Financial Inc. purchased a new stake in shares of Alaska Air Group during the second quarter worth about $118,000. Asset Management One Co. Ltd. increased its position in shares of Alaska Air Group by 307.9% during the first quarter. Asset Management One Co. Ltd. now owns 2,178 shares of the transportation company’s stock worth $135,000 after acquiring an additional 1,644 shares during the last quarter. Finally, BDO Wealth Advisors LLC increased its position in shares of Alaska Air Group by 485.0% during the first quarter. BDO Wealth Advisors LLC now owns 3,071 shares of the transportation company’s stock worth $190,000 after acquiring an additional 2,546 shares during the last quarter. 88.72% of the stock is currently owned by institutional investors.
NYSE:ALK opened at $69.28 on Tuesday. The stock has a market capitalization of $8.49 billion, a P/E ratio of 10.43, a PEG ratio of 2.41 and a beta of 0.57. Alaska Air Group, Inc. has a one year low of $57.53 and a one year high of $82.68. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.73 and a quick ratio of 0.71.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 6th. Investors of record on Tuesday, August 21st were paid a $0.32 dividend. The ex-dividend date of this dividend was Monday, August 20th. This represents a $1.28 dividend on an annualized basis and a yield of 1.85%. Alaska Air Group’s dividend payout ratio (DPR) is 19.28%.
In related news, EVP Shane R. Tackett sold 3,000 shares of Alaska Air Group stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $66.81, for a total value of $200,430.00. Following the completion of the transaction, the executive vice president now directly owns 8,238 shares in the company, valued at $550,380.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is currently owned by company insiders.
A number of analysts have recently issued reports on ALK shares. Buckingham Research dropped their target price on Alaska Air Group from $86.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, July 27th. Bank of America dropped their target price on Alaska Air Group from $70.00 to $66.00 and set a “neutral” rating on the stock in a research report on Friday, July 27th. Imperial Capital dropped their target price on Alaska Air Group from $71.00 to $65.00 and set a “line” rating on the stock in a research report on Friday, June 1st. Zacks Investment Research lowered Alaska Air Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 10th. Finally, Stifel Nicolaus decreased their price target on Alaska Air Group from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, July 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $78.77.
Alaska Air Group 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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