Sterling Capital Management LLC Has $72.88 Million Stock Holdings in Alaska Air Group, Inc. (NYSE:ALK)
Sterling Capital Management LLC increased its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,140,374 shares of the transportation company’s stock after buying an additional 13,788 shares during the quarter. Sterling Capital Management LLC owned 0.93% of Alaska Air Group worth $72,881,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Gateway Investment Advisers LLC boosted its holdings in Alaska Air Group by 24.1% during the second quarter. Gateway Investment Advisers LLC now owns 118,594 shares of the transportation company’s stock valued at $7,579,000 after purchasing an additional 23,067 shares in the last quarter. Alta Capital Management LLC acquired a new position in shares of Alaska Air Group in the 2nd quarter worth approximately $232,000. Machina Capital S.A.S. acquired a new position in shares of Alaska Air Group in the 2nd quarter worth approximately $68,000. AlphaMark Advisors LLC acquired a new position in shares of Alaska Air Group in the 1st quarter worth approximately $2,227,000. Finally, Cognios Capital LLC boosted its holdings in shares of Alaska Air Group by 26.8% in the 1st quarter. Cognios Capital LLC now owns 39,832 shares of the transportation company’s stock worth $2,234,000 after acquiring an additional 8,425 shares in the last quarter. 88.39% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently commented on ALK. TheStreet raised Alaska Air Group from a “c” rating to a “b” rating in a report on Thursday, July 25th. Macquarie downgraded Alaska Air Group from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $79.00 to $63.00 in a report on Monday, July 29th. ValuEngine downgraded Alaska Air Group from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Imperial Capital reissued an “in-line” rating and issued a $70.00 target price (up from $68.00) on shares of Alaska Air Group in a report on Tuesday, August 6th. Finally, Morgan Stanley boosted their target price on Alaska Air Group from $76.00 to $81.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. Alaska Air Group currently has a consensus rating of “Buy” and a consensus target price of $73.36.
ALK stock traded down $1.21 during trading on Monday, hitting $64.66. The company had a trading volume of 1,295,191 shares, compared to its average volume of 1,331,303. The company has a quick ratio of 0.61, a current ratio of 0.63 and a debt-to-equity ratio of 0.75. The firm has a 50-day moving average price of $61.89 and a 200-day moving average price of $60.83. Alaska Air Group, Inc. has a 12 month low of $53.39 and a 12 month high of $74.83. The stock has a market cap of $8.00 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 0.52 and a beta of 0.86.
Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, July 25th. The transportation company reported $2.17 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the previous year, the company posted $1.66 EPS. Alaska Air Group’s revenue was up 6.1% on a year-over-year basis. Equities analysts expect that Alaska Air Group, Inc. will post 5.91 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Tuesday, August 20th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Monday, August 19th. Alaska Air Group’s dividend payout ratio (DPR) is presently 31.39%.
Alaska Air Group Company 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.
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