Alaska Air CEO Buys 25,000 Shares for $1 Million as Stock Falls 28%
Updated
Updated · Yahoo Finance · Aug 22
Alaska Air CEO Buys 25,000 Shares for $1 Million as Stock Falls 28%
2 articles · Updated · Yahoo Finance · Aug 22
Summary
$1 million of Alaska Air stock was bought by CEO Benito Minicucci on Aug. 20 through open-market purchases at a $40.06 weighted average price, according to an SEC Form 4 filing.
The purchase lifted his directly held stake to 256,582 shares, worth about $10.31 million at the Aug. 20 close of $40.18, or roughly 0.23% of outstanding shares.
Those trades came after Alaska Air shares posted a one-year total return of about negative 28%, a backdrop that can signal management confidence after the selloff.
Alaska Air, valued at $4.5 billion, reported trailing 12-month revenue of $14.8 billion and a net loss of $175 million, underscoring the operational pressure behind the stock's decline.