Quantitative Systematic Strategies LLC increased its stake in Alaska Air Group, Inc. (NYSE:ALK) by 3.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 30,076 shares of the transportation company’s stock after buying an additional 979 shares during the period. Alaska Air Group accounts for approximately 0.7% of Quantitative Systematic Strategies LLC’s holdings, making the stock its 17th largest position. Quantitative Systematic Strategies LLC’s holdings in Alaska Air Group were worth $2,680,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Twin Tree Management LP acquired a new position in shares of Alaska Air Group during the first quarter worth $179,000. Assetmark Inc. boosted its position in shares of Alaska Air Group by 70.3% in the first quarter. Assetmark Inc. now owns 2,027 shares of the transportation company’s stock worth $187,000 after buying an additional 837 shares during the period. Rehmann Capital Advisory Group acquired a new position in shares of Alaska Air Group during the second quarter worth $201,000. Private Advisor Group LLC acquired a new position in shares of Alaska Air Group during the first quarter worth $216,000. Finally, Verity Asset Management Inc. acquired a new position in shares of Alaska Air Group during the first quarter worth $218,000. 90.67% of the stock is currently owned by institutional investors and hedge funds.
Alaska Air Group, Inc. (ALK) traded up 1.20% during mid-day trading on Tuesday, hitting $88.05. 312,882 shares of the stock were exchanged. The stock has a market cap of $10.88 billion, a price-to-earnings ratio of 15.00 and a beta of 0.96. The company has a 50 day moving average price of $90.44 and a 200 day moving average price of $91.19. Alaska Air Group, Inc. has a 52 week low of $64.19 and a 52 week high of $101.43.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Wednesday, April 26th. The transportation company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. Alaska Air Group had a return on equity of 30.01% and a net margin of 11.51%. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the company earned $1.45 earnings per share. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. Analysts expect that Alaska Air Group, Inc. will post $8.14 EPS for the current fiscal year.
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A number of research analysts have weighed in on the stock. J P Morgan Chase & Co set a $116.00 price target on shares of Alaska Air Group and gave the company a “buy” rating in a research report on Saturday, April 1st. Zacks Investment Research raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a research report on Tuesday, July 4th. Bank of America Corporation lifted their price target on shares of Alaska Air Group from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, June 30th. Cowen and Company reaffirmed a “market perform” rating and set a $102.00 price target on shares of Alaska Air Group in a research report on Monday, April 17th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $145.00 price target on shares of Alaska Air Group in a research report on Friday, May 26th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Alaska Air Group presently has a consensus rating of “Buy” and a consensus target price of $105.41.
In other news, Chairman Bradley D. Tilden sold 5,600 shares of the company’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $94.48, for a total transaction of $529,088.00. Following the completion of the transaction, the chairman now directly owns 145,546 shares in the company, valued at $13,751,186.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Bradley D. Tilden sold 4,700 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $84.63, for a total value of $397,761.00. Following the transaction, the chairman now owns 148,646 shares of the company’s stock, valued at $12,579,910.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,800 shares of company stock valued at $2,139,479. Corporate insiders own 0.57% of the company’s stock.
Alaska Air Group Company Profile
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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