Southport Management L.L.C. Invests $620,000 in Alaska Air Group, Inc. (ALK) Stock
Southport Management L.L.C. acquired a new position in shares of Alaska Air Group, Inc. (NYSE:ALK) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,000 shares of the transportation company’s stock, valued at approximately $620,000. Alaska Air Group comprises about 2.2% of Southport Management L.L.C.’s portfolio, making the stock its 22nd biggest holding.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Asset Management One Co. Ltd. increased its holdings in 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 buying an additional 1,644 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Alaska Air Group by 55.3% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,495 shares of the transportation company’s stock worth $186,000 after buying an additional 888 shares during the last quarter. ING Groep NV acquired a new position in shares of Alaska Air Group in the first quarter valued at $205,000. Wetherby Asset Management Inc. acquired a new position in shares of Alaska Air Group in the fourth quarter valued at $206,000. Finally, BerganKDV Wealth Management LLC acquired a new position in shares of Alaska Air Group in the first quarter valued at $208,000. 93.35% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on ALK shares. Imperial Capital reduced their target price on shares of Alaska Air Group from $71.00 to $65.00 and set a “line” rating for the company in a research report on Friday, June 1st. Citigroup cut their price objective on shares of Alaska Air Group from $73.00 to $69.00 and set a “neutral” rating for the company in a research report on Tuesday, May 29th. ValuEngine downgraded Alaska Air Group from a “hold” rating to a “sell” rating in a research note on Wednesday, May 9th. Morgan Stanley upped their price objective on Alaska Air Group from $79.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, April 24th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Alaska Air Group in a research note on Monday, April 23rd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Alaska Air Group currently has an average rating of “Hold” and an average price target of $84.29.
Alaska Air Group (NYSE:ALK) last announced its earnings results on Monday, April 23rd. The transportation company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.03. Alaska Air Group had a return on equity of 20.43% and a net margin of 11.64%. The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the firm posted $1.12 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. equities analysts anticipate that Alaska Air Group, Inc. will post 5.28 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 7th. Investors of record on Tuesday, May 22nd were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.03%. The ex-dividend date was Monday, May 21st. Alaska Air Group’s dividend payout ratio (DPR) is currently 19.28%.
In other Alaska Air Group news, EVP Andrew R. Harrison sold 1,600 shares of the firm’s stock in a transaction dated Friday, May 25th. The stock was sold at an average price of $61.87, for a total value of $98,992.00. Following the completion of the transaction, the executive vice president now owns 22,492 shares in the company, valued at approximately $1,391,580.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.57% of the company’s stock.
Alaska Air Group Company 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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