Alaska Air Group (ALK) : Eqis Capital Management scooped up 2,446 additional shares in Alaska Air Group during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 4, 2016. The investment management firm now holds a total of 18,341 shares of Alaska Air Group which is valued at $1,252,874.Alaska Air Group makes up approximately 0.08% of Eqis Capital Management’s portfolio.
Other Hedge Funds, Including , Washington Trust Bank boosted its stake in ALK in the latest quarter, The investment management firm added 742 additional shares and now holds a total of 1,342 shares of Alaska Air Group which is valued at $91,672. Alaska Air Group makes up approx 0.02% of Washington Trust Bank’s portfolio.Lau Associates reduced its stake in ALK by selling 300 shares or 1.59% in the most recent quarter. The Hedge Fund company now holds 18,550 shares of ALK which is valued at $1,267,151. Alaska Air Group makes up approx 1.29% of Lau Associates’s portfolio.
Alaska Air Group opened for trading at $68.42 and hit $69.62 on the upside on Tuesday, eventually ending the session at $68.71, with a gain of 2.41% or 1.62 points. The heightened volatility saw the trading volume jump to 19,56,589 shares. Company has a market cap of $8,458 M.
On the company’s financial health, Alaska Air Group reported $2.12 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $2.09. The company had revenue of $1494.00 million for the quarter, compared to analysts expectations of $1498.56 million. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.76 EPS.
Many Wall Street Analysts have commented on Alaska Air Group. Imperial Capital Initiated Alaska Air Group on Sep 23, 2016 to “In-line”, Price Target of the shares are set at $74.Alaska Air Group was Upgraded by JP Morgan to ” Overweight” on Jul 27, 2016. Company shares were Upgraded by Credit Suisse on Jul 25, 2016 to ” Outperform”, Firm has raised the Price Target to $ 85 from a previous price target of $70 .
Alaska Air Group Inc. is a holding company of Alaska Airlines Inc. (Alaska) and Horizon Air Industries Inc. (Horizon). The Company operates Alaska Airlines and Horizon Air airlines which together with its partner regional airlines serve approximately 100 cities through a network in Alaska the Lower 48 Hawaii Canada and Mexico. The Company operates in three segments: Alaska Mainline Alaska Regional and Horizon. Alaska Mainline is the Boeing 737 part of Alaska’s business. Alaska Regional is Alaska’s shorter distance network. Horizon operates regional aircraft. In 2014 the Company carried approximately 29 million passengers. Alaska operates a fleet of passenger jets (mainline) and contracts with Horizon SkyWest Airlines Inc. (SkyWest) and Peninsula Airways Inc. (PenAir) for regional capacity under which Alaska receives all passenger revenue from those flights. Horizon operates a fleet of turboprop aircraft and sells all of its capacity to Alaska.