Allen Investment Management Lowers stake in Alaska Air Group (ALK)

Alaska Air Group (ALK) : Allen Investment Management reduced its stake in Alaska Air Group by 20.51% during the most recent quarter end. The investment management company now holds a total of 59,011 shares of Alaska Air Group which is valued at $3,858,139 after selling 15,228 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 0.29% of Allen Investment Management’s portfolio.

Other Hedge Funds, Including , D.a. Davidson boosted its stake in ALK in the latest quarter, The investment management firm added 54,742 additional shares and now holds a total of 67,343 shares of Alaska Air Group which is valued at $4,402,885. Alaska Air Group makes up approx 0.12% of D.a. Davidson’s portfolio. Delphi Private Advisors added ALK to its portfolio by purchasing 25 company shares during the most recent quarter which is valued at $1,635. Verity Asset Management sold out all of its stake in ALK during the most recent quarter. The investment firm sold 3,938 shares of ALK which is valued $257,466. Norinchukin Bank The added ALK to its portfolio by purchasing 6,464 company shares during the most recent quarter which is valued at $427,335. Alaska Air Group makes up approx 0.01% of Norinchukin Bank The’s portfolio. Gsa Capital Partners Llp added ALK to its portfolio by purchasing 63,851 company shares during the most recent quarter which is valued at $4,228,852. Alaska Air Group makes up approx 0.22% of Gsa Capital Partners Llp’s portfolio.

Alaska Air Group opened for trading at $69.28 and hit $71.3 on the upside on Wednesday, eventually ending the session at $71.03, with a gain of 2.94% or 2.03 points. The heightened volatility saw the trading volume jump to 1,739,016 shares. Company has a market cap of $8,743 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. 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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