Glacier Peak Capital adds Alaska Air Group (ALK) to its portfolio

Alaska Air Group (ALK) : Glacier Peak Capital added new position in Alaska Air Group during the most recent quarter end. The investment management firm now holds 35,307 shares of Alaska Air Group which is valued at $2,308,372 , the company said in a statement filed on Aug 12, 2016 with the SEC.Alaska Air Group makes up approximately 2.31% of Glacier Peak Capital’s portfolio.

Other Hedge Funds, Including , Massachusetts Financial Services Co boosted its stake in ALK in the latest quarter, The investment management firm added 14,424 additional shares and now holds a total of 340,100 shares of Alaska Air Group which is valued at $22,235,738. Alaska Air Group makes up approx 0.01% of Massachusetts Financial Services Co’s portfolio.Bks Advisors boosted its stake in ALK in the latest quarter, The investment management firm added 10,000 additional shares and now holds a total of 25,900 shares of Alaska Air Group which is valued at $1,712,249. Alaska Air Group makes up approx 0.84% of Bks Advisors’s portfolio.Dana Investment Advisors boosted its stake in ALK in the latest quarter, The investment management firm added 40,766 additional shares and now holds a total of 466,938 shares of Alaska Air Group which is valued at $30,925,304. Alaska Air Group makes up approx 1.33% of Dana Investment Advisors’s portfolio. Stevens First Principles Investment Advisors added ALK to its portfolio by purchasing 405 company shares during the most recent quarter which is valued at $27,224. Alaska Air Group makes up approx 0.02% of Stevens First Principles Investment Advisors’s portfolio. Balasa Dinverno Foltz sold out all of its stake in ALK during the most recent quarter. The investment firm sold 5,519 shares of ALK which is valued $354,541.

Alaska Air Group closed down -0.23 points or -0.34% at $67.04 with 9,01,260 shares getting traded on Monday. Post opening the session at $67.31, the shares hit an intraday low of $66.96 and an intraday high of $67.62 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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. 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 was Downgraded by Raymond James to ” Outperform” on Jun 14, 2016.

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.

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