Tanaka Capital Management Inc Lowers stake in Alaska Air Group (ALK)

Alaska Air Group (ALK) : Tanaka Capital Management Inc reduced its stake in Alaska Air Group by 4.65% during the most recent quarter end. The investment management company now holds a total of 21,172 shares of Alaska Air Group which is valued at $1,384,225 after selling 1,033 shares in Alaska Air Group , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Alaska Air Group makes up approximately 3.37% of Tanaka Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Two Sigma Investments Lp boosted its stake in ALK in the latest quarter, The investment management firm added 495,926 additional shares and now holds a total of 528,451 shares of Alaska Air Group which is valued at $34,550,126. Alaska Air Group makes up approx 0.16% of Two Sigma Investments Lp’s portfolio. Ubs Oconnor added ALK to its portfolio by purchasing 45,464 company shares during the most recent quarter which is valued at $2,972,436. Alaska Air Group makes up approx 0.09% of Ubs Oconnor’s portfolio. Marshall Wace Llp added ALK to its portfolio by purchasing 416,147 company shares during the most recent quarter which is valued at $27,207,691. Alaska Air Group makes up approx 0.22% of Marshall Wace Llp’s portfolio. Decatur Capital Management sold out all of its stake in ALK during the most recent quarter. The investment firm sold 170,600 shares of ALK which is valued $11,153,828.Vanguard Group Inc boosted its stake in ALK in the latest quarter, The investment management firm added 2,146,350 additional shares and now holds a total of 11,663,763 shares of Alaska Air Group which is valued at $762,576,825. Alaska Air Group makes up approx 0.05% of Vanguard Group Inc’s portfolio.

Alaska Air Group closed down -0.27 points or -0.40% at $67.26 with 9,16,671 shares getting traded on Thursday. Post opening the session at $67.81, the shares hit an intraday low of $67.08 and an intraday high of $68.44 and the price fluctuated in this range throughout the day.Shares ended Thursday 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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