Trexquant Investment Lp adds Alaska Air Group (ALK) to its portfolio

Alaska Air Group (ALK) : Trexquant Investment Lp added new position in Alaska Air Group during the most recent quarter end. The investment management firm now holds 76,926 shares of Alaska Air Group which is valued at $5,029,422 , the company said in a statement filed on Aug 10, 2016 with the SEC.Alaska Air Group makes up approximately 0.62% of Trexquant Investment Lp’s portfolio.

Other Hedge Funds, Including , Diamond Hill Capital Management Inc boosted its stake in ALK in the latest quarter, The investment management firm added 44,306 additional shares and now holds a total of 292,716 shares of Alaska Air Group which is valued at $19,137,772. Alaska Air Group makes up approx 0.11% of Diamond Hill Capital Management Inc’s portfolio.Twin Capital Management Inc boosted its stake in ALK in the latest quarter, The investment management firm added 12,855 additional shares and now holds a total of 59,575 shares of Alaska Air Group which is valued at $3,938,503. Alaska Air Group makes up approx 0.28% of Twin Capital Management Inc’s portfolio.Utah Retirement Systems reduced its stake in ALK by selling 1,400 shares or 6.01% in the most recent quarter. The Hedge Fund company now holds 21,900 shares of ALK which is valued at $1,425,690. Alaska Air Group makes up approx 0.04% of Utah Retirement Systems’s portfolio.New York State Teachers Retirement System boosted its stake in ALK in the latest quarter, The investment management firm added 4,786 additional shares and now holds a total of 248,536 shares of Alaska Air Group which is valued at $16,055,426. Alaska Air Group makes up approx 0.04% of New York State Teachers Retirement System’s portfolio.First Quadrant L Pca reduced its stake in ALK by selling 95,380 shares or 19.15% in the most recent quarter. The Hedge Fund company now holds 402,809 shares of ALK which is valued at $25,574,343. Alaska Air Group makes up approx 0.54% of First Quadrant L Pca’s portfolio.

Alaska Air Group closed down -0.63 points or -0.93% at $67.07 with 10,94,601 shares getting traded on Friday. Post opening the session at $67.29, the shares hit an intraday low of $66.701 and an intraday high of $67.7199 and the price fluctuated in this range throughout the day.Shares ended Friday 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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