Employees Retirement System Of Texas Lowers stake in Alaska Air Group (ALK)

Alaska Air Group (ALK) : Employees Retirement System Of Texas reduced its stake in Alaska Air Group by 1.58% during the most recent quarter end. The investment management company now holds a total of 499,000 shares of Alaska Air Group which is valued at $33.1 Million after selling 8,000 shares in Alaska Air Group , the firm said in a disclosure report filed with the SEC on May 12, 2016.Alaska Air Group makes up approximately 0.46% of Employees Retirement System Of Texas’s portfolio.

Other Hedge Funds, Including , Cibc World Markets Corp sold out all of its stake in ALK during the most recent quarter. The investment firm sold 136,247 shares of ALK which is valued $9 Million. Matarin Capital Management added ALK to its portfolio by purchasing 11,980 company shares during the most recent quarter which is valued at $793,795. Alaska Air Group makes up approx 0.11% of Matarin Capital Management’s portfolio.Quantitative Investment Management reduced its stake in ALK by selling 1,700 shares or 11.04% in the most recent quarter. The Hedge Fund company now holds 13,700 shares of ALK which is valued at $938,587. Alaska Air Group makes up approx 0.04% of Quantitative Investment Management’s portfolio.Wedbush Securities Inc boosted its stake in ALK in the latest quarter, The investment management firm added 459 additional shares and now holds a total of 3,978 shares of Alaska Air Group which is valued at $272,533. Alaska Air Group makes up approx 0.05% of Wedbush Securities Inc’s portfolio.Nj State Employees Deferred Compensation Plan reduced its stake in ALK by selling 40,000 shares or 66.67% in the most recent quarter. The Hedge Fund company now holds 20,000 shares of ALK which is valued at $1.4 Million. Alaska Air Group makes up approx 0.30% of Nj State Employees Deferred Compensation Plan’s portfolio.

Alaska Air Group opened for trading at $65.65 and hit $66.27 on the upside on Friday, eventually ending the session at $65.21, with a gain of 0.15% or 0.095 points. The heightened volatility saw the trading volume jump to 11,31,871 shares. Company has a market cap of $8,037 M.

On the company’s financial health, Alaska Air Group reported $1.45 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $1.42. The company had revenue of $1347.00 million for the quarter, compared to analysts expectations of $1345.55 million. The company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 EPS.

Many Wall Street Analysts have commented on Alaska Air Group. Cowen Resumed Alaska Air Group on May 16, 2016 to “Outperform”, Price Target of the shares are set at $89.Alaska Air Group was Downgraded by Buckingham Research to ” Neutral” on Apr 22, 2016. Alaska Air Group was Upgraded by BofA/Merrill to ” Neutral” on Apr 5, 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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