Kyle B. Levine, Senior Vice President of Legal and General Counsel at Alaska Air Group, Inc. (NYSE:), recently sold 3,439 shares of the company’s common stock. The transaction, which took place on December 17, 2024, saw the shares sold at an average price of $63.5014, totaling approximately $218,381. The timing is notable as InvestingPro data shows the stock trading near its 52-week high of $65.62, with technical indicators suggesting overbought conditions.
Following this sale, Levine holds 19,479 shares of Alaska Air Group stock. It’s worth noting that a previous filing had overstated his holdings by 63 shares, an error that has now been corrected in this report.
Alaska Air Group, headquartered in Seattle, Washington, operates as a major airline in the United States, providing scheduled air transportation services.
In other recent news, Alaska Airlines has initiated a new nonstop service between San Diego International Airport and Ronald Reagan Washington National Airport, becoming the only provider of this direct route. The airline has also recently merged with Hawaiian Airlines and has received positive feedback from several financial firms. Citi, TD Cowen, and Melius Research have all raised their stock targets for Alaska Airlines, citing the company’s post-merger performance and ambitious growth strategy, known as Alaska Accelerate.
This strategy aims to generate an additional $1 billion in pre-tax profit and an earnings per share exceeding $10 by 2027. The merger with Hawaiian Airlines has also revealed opportunities for synergy, such as route optimization and loyalty programs, contributing to a healthy revenue growth of 3.88% over the last twelve months.
Alaska Airlines also plans to expand its Alaska Lounge footprint in the next three years with developments in San Diego, Honolulu, and Seattle, among others. These are among the recent developments that have put Alaska Airlines in the spotlight for investors and financial firms.
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