Sei Investments Co. trimmed its stake in Alaska Air Group, Inc. (NYSE:ALK) by 22.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,752 shares of the transportation company’s stock after selling 17,161 shares during the quarter. Sei Investments Co.’s holdings in Alaska Air Group were worth $3,532,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Alaska Air Group during the first quarter valued at $27,000. Total Clarity Wealth Management Inc. bought a new stake in shares of Alaska Air Group in the 1st quarter valued at approximately $28,000. Ameritas Investment Company LLC bought a new stake in shares of Alaska Air Group in the 1st quarter valued at approximately $30,000. Exchange Traded Concepts LLC raised its holdings in shares of Alaska Air Group by 78.0% in the second quarter. Exchange Traded Concepts LLC now owns 534 shares of the transportation company’s stock worth $32,000 after buying an additional 234 shares during the period. Finally, First Command Bank raised its holdings in shares of Alaska Air Group by 111.9% in the second quarter. First Command Bank now owns 763 shares of the transportation company’s stock worth $46,000 after buying an additional 403 shares during the period. 75.03% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Chairman Bradley D. Tilden sold 4,875 shares of the business’s stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $58.72, for a total value of $286,260.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 14,665 shares of company stock valued at $862,324. 0.73% of the stock is currently owned by insiders.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Wednesday, July 21st. The transportation company reported ($0.30) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.44) by $0.14. Alaska Air Group had a negative return on equity of 37.62% and a negative net margin of 15.52%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the firm posted ($3.54) EPS. The firm’s revenue was up 262.7% compared to the same quarter last year. Analysts predict that Alaska Air Group, Inc. will post -1.43 EPS for the current fiscal year.
Several brokerages have recently weighed in on ALK. Raymond James reduced their price target on Alaska Air Group from $85.00 to $78.00 and set a “strong-buy” rating on the stock in a report on Tuesday, July 20th. MKM Partners initiated coverage on Alaska Air Group in a report on Thursday, June 10th. They set a “buy” rating and a $81.00 price objective on the stock. Wolfe Research upgraded Alaska Air Group from a “peer perform” rating to an “outperform” rating in a report on Friday, June 18th. Finally, Morgan Stanley cut their price target on Alaska Air Group from $89.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alaska Air Group has a consensus rating of “Buy” and an average price target of $75.45.
Alaska Air Group Company Profile
Alaska Air Group, Inc is a holding company, which engages in the provision of air transportation services. It operates through the following segments: Mainline, Regional and Horizon. The Mainline segment includes Alaska’s Boeing or Airbus jet aircraft for passengers and cargo throughout the U.S., and in parts of Canada, Mexico, and Costa Rica.
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