Wellington Management Group LLP Invests $26.39 Million in Alaska Air Group, Inc. (NYSE:ALK)

Wellington Management Group LLP bought a new position in shares of Alaska Air Group, Inc. (NYSE:ALK) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 583,716 shares of the transportation company’s stock, valued at approximately $26,390,000. Wellington Management Group LLP owned 0.46% of Alaska Air Group at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Altshuler Shaham Ltd bought a new position in Alaska Air Group in the second quarter worth about $28,000. Venturi Wealth Management LLC raised its stake in Alaska Air Group by 86.0% in the third quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company’s stock worth $46,000 after buying an additional 474 shares in the last quarter. Pacifica Partners Inc. raised its stake in Alaska Air Group by 952.4% in the third quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock worth $50,000 after buying an additional 1,000 shares in the last quarter. True Wealth Design LLC bought a new position in Alaska Air Group in the third quarter worth about $52,000. Finally, Quarry LP raised its stake in Alaska Air Group by 259.3% in the third quarter. Quarry LP now owns 1,175 shares of the transportation company’s stock worth $53,000 after buying an additional 848 shares in the last quarter. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alaska Air Group

In related news, COO Muehlen Constance E. Von sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $63.09, for a total value of $252,360.00. Following the sale, the chief operating officer now owns 12,162 shares in the company, valued at approximately $767,300.58. This trade represents a 24.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Andrea L. Schneider sold 3,700 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $63.50, for a total transaction of $234,950.00. Following the completion of the sale, the senior vice president now owns 21,086 shares in the company, valued at $1,338,961. This represents a 14.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,580 shares of company stock valued at $1,693,569 over the last 90 days. Corporate insiders own 0.68% of the company’s stock.

Alaska Air Group Price Performance

Shares of ALK opened at $62.59 on Friday. The company has a market capitalization of $7.95 billion, a P/E ratio of 25.24, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 0.93. The firm has a 50 day moving average of $50.51 and a 200 day moving average of $43.01. Alaska Air Group, Inc. has a twelve month low of $32.62 and a twelve month high of $65.62.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.03. The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3 billion. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.83 earnings per share. As a group, equities research analysts anticipate that Alaska Air Group, Inc. will post 4.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ALK has been the subject of a number of research reports. Bank of America increased their price target on shares of Alaska Air Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. UBS Group reissued a “buy” rating and issued a $72.00 price target on shares of Alaska Air Group in a research note on Tuesday, November 26th. Morgan Stanley increased their price target on shares of Alaska Air Group from $70.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday. The Goldman Sachs Group reaffirmed a “buy” rating and set a $70.00 target price on shares of Alaska Air Group in a research note on Friday, November 15th. Finally, Melius raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $64.00.

About Alaska Air Group

Alaska Air Group, Inc, through its subsidiaries, operates airlines. It operates through three segments: Mainline, Regional, and Horizon. The company offers scheduled air transportation services on Boeing jet aircraft for passengers and cargo in the United States, and in parts of Canada, Mexico, Costa Rica, Belize, Guatemala, and the Bahamas; and for passengers across a shorter distance network within the United States, Canada, and Mexico.