Wellington Management Group LLP Acquires New Holdings in Alaska Air Group, Inc. (NYSE:ALK)

Wellington Management Group LLP purchased a new stake in Alaska Air Group, Inc. (NYSE:ALK - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 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 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Altshuler Shaham Ltd acquired a new stake in Alaska Air Group in the second quarter worth $28,000. Venturi Wealth Management LLC grew its position in shares of Alaska Air Group by 86.0% during the third quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company's stock worth $46,000 after acquiring an additional 474 shares during the last quarter. Pacifica Partners Inc. increased its holdings in shares of Alaska Air Group by 952.4% in the 3rd quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company's stock worth $50,000 after acquiring an additional 1,000 shares during the period. True Wealth Design LLC bought a new stake in Alaska Air Group in the 3rd quarter valued at about $52,000. Finally, Quarry LP lifted its position in Alaska Air Group by 259.3% in the 3rd quarter. Quarry LP now owns 1,175 shares of the transportation company's stock valued at $53,000 after purchasing an additional 848 shares during the last quarter. Institutional investors own 81.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Alaska Air Group from $58.00 to $85.00 and gave the company an "overweight" rating in a research note on Wednesday. Barclays lifted their target price on Alaska Air Group from $55.00 to $80.00 and gave the company an "overweight" rating in a research note on Thursday, November 14th. Melius raised Alaska Air Group from a "hold" rating to a "buy" rating and set a $56.00 price target for the company in a research note on Monday, October 28th. Citigroup cut their price objective on shares of Alaska Air Group from $51.00 to $48.00 and set a "buy" rating on the stock in a research note on Thursday, August 29th. Finally, TD Cowen increased their target price on shares of Alaska Air Group from $68.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Alaska Air Group presently has a consensus rating of "Moderate Buy" and an average price target of $64.00.

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 transaction of $252,360.00. Following the completion of the sale, the chief operating officer now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Shane R. Tackett sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $63.56, for a total transaction of $317,800.00. Following the transaction, the chief financial officer now directly owns 27,362 shares in the company, valued at $1,739,128.72. The trade was a 15.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,580 shares of company stock valued at $1,693,569. Company insiders own 0.68% of the company's stock.

Alaska Air Group Price Performance

Shares of ALK traded down $0.85 during trading hours on Friday, hitting $62.57. 3,724,012 shares of the company were exchanged, compared to its average volume of 2,291,301. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.60 and a quick ratio of 0.57. The company has a market capitalization of $7.94 billion, a PE ratio of 25.23, a PEG ratio of 1.24 and a beta of 1.60. The firm has a fifty day simple moving average of $50.51 and a 200-day simple moving average of $43.01. Alaska Air Group, Inc. has a one year low of $32.62 and a one year high of $65.62.

Alaska Air Group (NYSE:ALK - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, beating analysts' consensus estimates of $2.22 by $0.03. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. Alaska Air Group's revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the company posted $1.83 EPS. As a group, sell-side analysts predict that Alaska Air Group, Inc. will post 4.3 earnings per share for the current year.

Alaska Air Group Company Profile

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.