Alaska Air Group SVP Kyle B. Levine Sells Shares

On December 17th, Kyle B. Levine, a Senior Vice President at Alaska Air Group, Inc. (NYSE: ALK), executed a sale of 3,439 shares of the company's stock. The shares were sold at an average price of $63.50 per share, bringing the total transaction value to $218,376.50. After this transaction, Levine's direct ownership in Alaska Air Group stands at 19,479 shares, which are currently valued at approximately $1,236,916.50. This sale marks a reduction of 15.01% in Levine's ownership stake in the company. The details of this transaction were disclosed in a filing with the Securities and Exchange Commission (SEC), which can be reviewed on their official website.

Recent Stock Movement

In trading activity following the announcement, shares of Alaska Air Group experienced a slight decline, dropping 1.2% to $62.44. On that day, the stock had a trading volume of 3,368,449 shares, surpassing its average trading volume of 2,303,922 shares. Over the past year, Alaska Air Group's stock has fluctuated between a low of $32.62 and a high of $65.62. The company holds a market capitalization of approximately $7.93 billion. Financial ratios reveal a current ratio of 0.60, a quick ratio of 0.57, and a debt-to-equity ratio of 0.93. The company's price-to-earnings (P/E) ratio stands at 25.18, with a price-to-earnings growth (PEG) ratio of 1.24 and a beta value of 1.60. The firm also has a 50-day simple moving average of $51.73 and a 200-day moving average of $43.47.

Earnings Performance

Alaska Air Group recently disclosed its quarterly earnings on October 31st. The company reported earnings of $2.25 per share, outperforming analysts' expectations, which were set at $2.22 per share. The return on equity for Alaska Air Group was measured at 12.81%, and it recorded a net margin of 2.99%. For the quarter, the total revenue reached $3.07 billion, exceeding the consensus estimate of $3 billion. In a year-over-year comparison, the company's revenue showed an increase of 8.2%, and during the same quarter from the previous year, the earnings per share (EPS) was $1.83. Analysts forecast average EPS of 4.3 for the current fiscal year.

Institutional Investor Activity

Recent movements by institutional investors indicate a growing interest in Alaska Air Group. For instance, Verdence Capital Advisors LLC increased its stake by 2.2% during the third quarter, owning 10,180 shares with a total value of $460,000. Similarly, QRG Capital Management Inc. raised its holdings by 2.7%, acquiring 9,271 shares valued at $419,000. First Trust Direct Indexing L.P. also expanded its position by 4.7%, holding 5,938 shares worth $268,000. Coastwise Capital Group LLC and Concurrent Investment Advisors LLC also reported increases in their stakes in Alaska Air Group. Overall, institutional investors hold approximately 81.90% of the company's total stock.

Analyst Upgrades

Alaska Air Group has recently attracted attention from market analysts, with several firms adjusting their price targets. JPMorgan Chase & Co. raised its price target from $58.00 to $85.00, maintaining an "overweight" rating. Meanwhile, Barclays upgraded its target from $55.00 to $80.00. The Goldman Sachs Group reiterated a "buy" rating with a $70.00 target price. Additionally, Citigroup lifted its price target from $63.00 to $74.00, also assigning a "buy" rating. Bank of America increased its target from $50.00 to $55.00, with a similar "buy" recommendation. Currently, two analysts have issued a hold rating, while thirteen have rated the stock as a buy, leading to a consensus rating of "Moderate Buy" with an average price target of $65.86.

About Alaska Air Group

Alaska Air Group, Inc. operates through its subsidiaries in the airline industry. The company segments its operations into Mainline, Regional, and Horizon, offering scheduled air transportation services utilizing Boeing aircraft for passengers and cargo within the United States and select international destinations, including parts of Canada, Mexico, Costa Rica, Belize, Guatemala, and the Bahamas. It also provides transportation over shorter distances across North America.

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