Wedbush Securities Inc. Boosts Stock Position in Alaska Air Group, Inc. (NYSE:ALK)

Wedbush Securities Inc. boosted its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 18.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,372 shares of the transportation company’s stock after acquiring an additional 1,332 shares during the quarter. Wedbush Securities Inc.’s holdings in Alaska Air Group were worth $535,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Janus Henderson Group PLC lifted its stake in shares of Alaska Air Group by 168.3% during the 2nd quarter. Janus Henderson Group PLC now owns 29,938 shares of the transportation company’s stock worth $1,913,000 after purchasing an additional 18,781 shares during the last quarter. Aperio Group LLC lifted its stake in shares of Alaska Air Group by 25.3% during the 2nd quarter. Aperio Group LLC now owns 34,343 shares of the transportation company’s stock worth $2,195,000 after purchasing an additional 6,928 shares during the last quarter. Pegasus Partners Ltd. purchased a new stake in shares of Alaska Air Group during the 2nd quarter worth $597,000. Ibex Wealth Advisors purchased a new stake in shares of Alaska Air Group during the 2nd quarter worth $90,000. Finally, Alpha Windward LLC lifted its stake in shares of Alaska Air Group by 3.9% during the 2nd quarter. Alpha Windward LLC now owns 7,757 shares of the transportation company’s stock worth $496,000 after purchasing an additional 292 shares during the last quarter. Institutional investors own 87.97% of the company’s stock.

NYSE:ALK traded up $0.89 during mid-day trading on Friday, hitting $59.91. 8,649 shares of the company’s stock traded hands, compared to its average volume of 1,114,872. The company has a fifty day moving average of $63.60 and a 200 day moving average of $61.33. Alaska Air Group, Inc. has a twelve month low of $53.39 and a twelve month high of $74.83. The company has a market capitalization of $7.54 billion, a P/E ratio of 13.40, a P/E/G ratio of 0.48 and a beta of 0.86. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.61 and a current ratio of 0.63.

Alaska Air Group (NYSE:ALK) last announced its earnings results on Thursday, July 25th. The transportation company reported $2.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.06. Alaska Air Group had a return on equity of 16.28% and a net margin of 6.00%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period in the prior year, the company posted $1.66 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, research analysts expect that Alaska Air Group, Inc. will post 5.94 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Tuesday, August 20th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.34%. The ex-dividend date is Monday, August 19th. Alaska Air Group’s dividend payout ratio is currently 31.39%.

A number of equities research analysts recently weighed in on the company. ValuEngine cut Alaska Air Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upgraded Alaska Air Group from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $71.00 to $72.00 in a research note on Tuesday, April 30th. Macquarie cut Alaska Air Group from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $79.00 to $63.00 in a research note on Monday, July 29th. Imperial Capital reaffirmed an “in-line” rating and set a $70.00 target price (up from $68.00) on shares of Alaska Air Group in a research report on Tuesday, August 6th. Finally, Deutsche Bank reduced their target price on Alaska Air Group from $73.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $73.36.

In related news, VP Kyle B. Levine sold 2,430 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total transaction of $157,950.00. Following the transaction, the vice president now directly owns 8,039 shares of the company’s stock, valued at approximately $522,535. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.43% of the company’s stock.

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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