Beacon Financial Group Lowers stake in Alaska Air Group (ALK)

Alaska Air Group (ALK) : Beacon Financial Group reduced its stake in Alaska Air Group by 1.34% during the most recent quarter end. The investment management company now holds a total of 7,976 shares of Alaska Air Group which is valued at $654,112 after selling 108 shares in Alaska Air Group according to a report filed by the company on Apr 1, 2016 with the SEC.Alaska Air Group makes up approximately 0.14% of Beacon Financial Group’s portfolio.

On the company’s financial health, Alaska Air Group reported $1.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jan 21, 2016. Analyst had a consensus of $1.41. The company had revenue of $1377.00 million for the quarter, compared to analysts expectations of $1378.29 million. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 EPS.

Many Wall Street Analysts have commented on Alaska Air Group. Alaska Air Group was Upgraded by BofA/Merrill to ” Neutral” on Apr 5, 2016. Alaska Air Group was Upgraded by JP Morgan to ” Neutral” on Apr 4, 2016. Company shares were Upgraded by Deutsche Bank on Jan 22, 2016 to ” Buy”, Firm has raised the Price Target to $ 86 from a previous price target of $84 .

Alaska Air Group closed down -0.6 points or -0.76% at $78.48 with 14,23,133 shares getting traded on Monday. Post opening the session at $79.78, the shares hit an intraday low of $78.47 and an intraday high of $80.4489 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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