Verity & Verity LLC Has $212,000 Holdings in Alaska Air Group, Inc. (NYSE:ALK)

Verity & Verity LLC cut its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 21.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,300 shares of the transportation company’s stock after selling 915 shares during the quarter. Verity & Verity LLC’s holdings in Alaska Air Group were worth $212,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Gateway Investment Advisers LLC increased its position in shares of 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 worth $7,579,000 after buying an additional 23,067 shares during the period. BlackRock Inc. increased its position in shares of Alaska Air Group by 1.5% during the second quarter. BlackRock Inc. now owns 7,067,885 shares of the transportation company’s stock worth $451,708,000 after buying an additional 103,191 shares during the period. Alta Capital Management LLC acquired a new stake in shares of Alaska Air Group during the second quarter worth $232,000. Machina Capital S.A.S. acquired a new stake in shares of Alaska Air Group during the second quarter worth $68,000. Finally, Glen Harbor Capital Management LLC grew its holdings in Alaska Air Group by 228.6% in the second quarter. Glen Harbor Capital Management LLC now owns 21,872 shares of the transportation company’s stock worth $1,398,000 after purchasing an additional 15,216 shares during the period. Institutional investors own 88.38% of the company’s stock.

A number of equities research analysts have commented on ALK shares. Cowen restated an “outperform” rating and issued a $75.00 price target on shares of Alaska Air Group in a report on Friday. Morgan Stanley raised their price target on shares of Alaska Air Group from $74.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday. Imperial Capital restated an “in-line” rating and issued a $70.00 price target (up from $68.00) on shares of Alaska Air Group in a report on Tuesday, August 6th. Macquarie cut shares of Alaska Air Group from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $79.00 to $63.00 in a report on Monday, July 29th. Finally, TheStreet upgraded shares of Alaska Air Group from a “c” rating to a “b” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $72.36.

In other news, VP Kyle B. Levine sold 2,430 shares of Alaska Air Group stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total transaction of $157,950.00. Following the completion of the transaction, the vice president now directly owns 8,039 shares in the company, valued at $522,535. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brandon Pedersen sold 4,024 shares of Alaska Air Group stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $67.01, for a total transaction of $269,648.24. Following the transaction, the chief financial officer now owns 22,500 shares of the company’s stock, valued at $1,507,725. The disclosure for this sale can be found here. 0.43% of the stock is owned by company insiders.

Shares of NYSE ALK opened at $66.08 on Friday. The stock has a market capitalization of $8.15 billion, a P/E ratio of 14.82, a P/E/G ratio of 0.57 and a beta of 0.85. The company has a 50-day moving average price of $63.00 and a 200-day moving average price of $61.81. Alaska Air Group, Inc. has a 1 year low of $53.39 and a 1 year high of $74.83. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.63 and a quick ratio of 0.61.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Thursday, July 25th. The transportation company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.11 by $0.06. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Alaska Air Group had a net margin of 6.00% and a return on equity of 16.28%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the company earned $1.66 earnings per share. As a group, equities research analysts anticipate that Alaska Air Group, Inc. will post 5.98 earnings per share for the current fiscal year.

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

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