Adams Asset Advisors LLC Takes Position in Alaska Air Group, Inc. (ALK)

Adams Asset Advisors LLC purchased a new stake in shares of Alaska Air Group, Inc. (NYSE:ALK) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 89,356 shares of the transportation company’s stock, valued at approximately $5,396,000.

A number of other institutional investors have also made changes to their positions in the business. OppenheimerFunds Inc. lifted its holdings in Alaska Air Group by 15.5% during the 1st quarter. OppenheimerFunds Inc. now owns 1,801,328 shares of the transportation company’s stock valued at $111,609,000 after purchasing an additional 241,084 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Alaska Air Group by 9.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,455,655 shares of the transportation company’s stock valued at $90,192,000 after purchasing an additional 127,603 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in Alaska Air Group by 16.2% during the 1st quarter. Thompson Siegel & Walmsley LLC now owns 1,351,907 shares of the transportation company’s stock valued at $83,764,000 after purchasing an additional 188,942 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in Alaska Air Group by 166.0% during the 1st quarter. Wedge Capital Management L L P NC now owns 1,335,938 shares of the transportation company’s stock valued at $82,775,000 after purchasing an additional 833,758 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in Alaska Air Group by 1.3% during the 1st quarter. LSV Asset Management now owns 1,115,847 shares of the transportation company’s stock valued at $69,137,000 after purchasing an additional 14,300 shares during the last quarter. 92.95% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE ALK traded down $2.70 during mid-day trading on Wednesday, reaching $60.19. The company had a trading volume of 2,632,594 shares, compared to its average volume of 2,372,012. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.69 and a current ratio of 0.71. Alaska Air Group, Inc. has a one year low of $57.53 and a one year high of $95.75. The stock has a market capitalization of $7.83 billion, a P/E ratio of 9.15 and a beta of 0.72.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Monday, April 23rd. The transportation company reported $0.14 EPS for the quarter, topping the Zacks’ 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 company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter last year, the business earned $1.12 earnings per share. Alaska Air Group’s revenue was up 4.7% on a year-over-year basis. equities research analysts forecast that Alaska Air Group, Inc. will post 4.87 earnings per share for the current year.

In related news, EVP Andrew R. Harrison sold 1,600 shares of the firm’s stock in a transaction on Friday, May 25th. The stock was sold at an average price of $61.87, for a total value of $98,992.00. Following the transaction, the executive vice president now owns 22,492 shares in the company, valued at $1,391,580.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is currently owned by company insiders.

A number of research firms have recently weighed in on ALK. ValuEngine downgraded Alaska Air Group from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Imperial Capital dropped their target price on Alaska Air Group from $71.00 to $65.00 and set a “line” rating for the company in a report on Friday, June 1st. Zacks Investment Research downgraded Alaska Air Group from a “hold” rating to a “sell” rating in a report on Tuesday, March 20th. Citigroup dropped their target price on Alaska Air Group from $69.00 to $68.00 and set a “neutral” rating for the company in a report on Monday, June 18th. Finally, TheStreet downgraded Alaska Air Group from a “b-” rating to a “c+” rating in a report on Monday, April 2nd. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $82.69.

About Alaska Air Group

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

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