SEATTLE—Emily Halverson, Vice President of Finance, Controller, and Treasurer at Alaska Air Group, Inc. (NYSE:ALK), recently sold 1,329 shares of the company's common stock. The shares were sold at an average price of $64.4113, yielding a total transaction value of $85,602. The sale comes as the $8.26 billion airline company trades near its 52-week high of $65.62, having delivered an impressive 50% return over the past six months.
Following this transaction, Halverson retains ownership of 7,150 shares in the company. According to the filing, the shares were sold in multiple transactions with prices ranging from $64.4001 to $64.4150.
This sale was disclosed in a filing with the Securities and Exchange Commission, providing transparency about insider transactions within the company.
In other recent news, Alaska Airlines has been making significant strides in its business operations. The airline has launched a new direct service between San Diego International Airport and Ronald Reagan Washington National Airport, marking a significant addition to its offerings. The airline has also recently acquired Hawaiian Airlines, a move that has been met with a positive response from financial firms such as Citi, TD Cowen, and Melius Research. These firms have upgraded their stock targets for Alaska Airlines, citing the company's impressive post-merger performance and ambitious growth strategy.
Alaska Airlines has also revealed an ambitious plan to drive double-digit profit margins between 11-13% and increase earnings per share to a minimum of $10 by 2027. This strategy, known as Alaska Accelerate, aims to generate an additional $1 billion in pre-tax profit. The company's gross profit margin currently stands at 23.92%, and analysts remain optimistic about the company's growth trajectory. These are some of the recent developments that have made Alaska Airlines a focal point for investors and financial firms alike.
It is also worth noting that Alaska Airlines has outlined objectives to expand its network and enhance product offerings, which are expected to lead to an additional $1 billion in pre-tax profit and an earnings per share exceeding $10 by 2027. Moreover, the airline anticipates these initiatives will support a $1 billion share repurchase program. As part of its expansion plans, Alaska Air will launch a new global gateway from Seattle, introducing nonstop routes to Tokyo Narita and Seoul Incheon. The airline aims to extend its reach to at least 12 international widebody destinations by 2030.
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