Joseph A. Sprague, the CEO of Hawaiian Airlines and a reporting owner at Alaska Air Group, Inc. (NYSE:ALK), recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Sprague sold 2,325 shares of common stock on December 18, 2024, at an average price of $64.38 per share, amounting to a total transaction value of $149,685. The sale comes as ALK trades near its 52-week high of $65.62, having delivered impressive returns of over 50% in the past six months. InvestingPro data shows the company maintains a GOOD financial health score, with analysts setting price targets ranging from $45 to $90.
Following this transaction, Sprague retains direct ownership of 19,340 shares in Alaska Air Group, with an additional 7,049 shares held indirectly through an Employee Stock Ownership Plan (ESOP) trust. With a market capitalization of $8.26 billion, ALK has shown strong momentum, delivering a 55% return over the past year. For deeper insights into ALK's valuation and comprehensive analysis, including 12 additional ProTips, check out the full research report on InvestingPro.
In other recent news, Alaska Airlines has made substantial strides in its business operations. The company announced the inauguration of a direct service between San Diego International Airport and Ronald Reagan Washington National Airport, enhancing business and leisure travel between these two strategic regions. In addition, Alaska Airlines recently acquired Hawaiian Airlines, broadening its service to over 140 destinations.
Furthermore, Alaska Airlines has been the subject of analyst attention. Citi raised its stock target for the company to $74, maintaining a Buy rating due to the successful post-merger performance with Hawaiian Airlines. TD Cowen also increased the airline's price target to $78, maintaining a Buy rating, based on the company's ambitious growth strategy, Alaska Accelerate.
Melius Research reiterated its Buy rating and a $72.00 price target, highlighting the potential for Alaska Air's earnings to double over the next three years. The merger with Hawaiian Airlines has revealed opportunities for synergy, contributing to a healthy revenue growth of 3.88% over the last twelve months.
Alaska Airlines has outlined an ambitious plan to drive double-digit profit margins between 11-13% and increase earnings per share to a minimum of $10 by 2027. These are some of the recent developments that have made Alaska Air a focal point for investors and financial firms alike.
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