BlackRock Cuts Alaska Air Stake to 6.1%

Ticker: ALK · Form: SC 13G/A · Filed: 2024-01-08T00:00:00.000Z

Sentiment: mixed

Topics: institutional-ownership, stake-change, airline, BlackRock

TL;DR

**BlackRock trimmed its Alaska Air stake to 6.1%, signaling a potential shift in sentiment.**

AI Summary

BlackRock Inc. filed an amended SC 13G/A on January 8, 2024, disclosing its ownership of 7,720,683 shares of Alaska Air Group, Inc. common stock as of December 31, 2023. This represents a 6.1% stake in the airline, a decrease from their previous reported holdings. This matters to investors because BlackRock, a major institutional investor, has reduced its position, which could signal a shift in their outlook on Alaska Air's future performance or valuation.

Why It Matters

A reduction in holdings by a major institutional investor like BlackRock can indicate a less bullish outlook on the company's future prospects, potentially influencing other investors' decisions.

Risk Assessment

Risk Level: medium — While not a massive sell-off, a reduction by a large institutional holder like BlackRock could suggest underlying concerns or a reallocation of capital, posing a moderate risk to investor confidence.

Analyst Insight

Investors should monitor future institutional filings for Alaska Air Group, Inc. to see if other major holders are also adjusting their positions, and consider this alongside other fundamental analysis before making investment decisions.

Key Numbers

7,720,683 — Shares Owned (BlackRock's beneficial ownership of Alaska Air Group, Inc. common stock as of December 31, 2023.)
6.1% — Ownership Percentage (The percentage of Alaska Air Group, Inc. common stock beneficially owned by BlackRock Inc. as of December 31, 2023.)

Key Players & Entities

BlackRock Inc. (company) — the institutional investor filing the SC 13G/A
ALASKA AIR GROUP, INC. (company) — the subject company whose shares are being reported
7,720,683 (dollar_amount) — number of shares of Common Stock beneficially owned by BlackRock Inc.
6.1% (dollar_amount) — percentage of the class of securities beneficially owned by BlackRock Inc.
December 31, 2023 (date) — the date of the event requiring the filing of this statement
January 8, 2024 (date) — the filing date of the SC 13G/A

Forward-Looking Statements

Other institutional investors may review their positions in Alaska Air Group, Inc. following BlackRock's reduction. (ALASKA AIR GROUP, INC.) — medium confidence, target: Q1 2024

FAQ

What type of filing is this document?

This document is an SC 13G/A, which is an amendment to a Schedule 13G, filed under Rule 13d-1(b) of the Securities Exchange Act of 1934.

Who is the filer of this SC 13G/A?

The filer of this SC 13G/A is BlackRock Inc., a major institutional investment manager.

Which company's shares are the subject of this filing?

The subject company is ALASKA AIR GROUP, INC., identified by CIK 0000766421 and CUSIP 011659109.

As of what date did the event requiring this filing occur?

The event requiring this filing occurred on December 31, 2023, which is the reporting date for the ownership stake.

What percentage of Alaska Air Group, Inc. common stock does BlackRock Inc. beneficially own according to this filing?

BlackRock Inc. beneficially owns 6.1% of the Common Stock of Alaska Air Group, Inc. as reported in this filing.

From the Filing

0001086364-24-000142.txt : 20240108 0001086364-24-000142.hdr.sgml : 20240108 20240108163539 ACCESSION NUMBER: 0001086364-24-000142 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240108 DATE AS OF CHANGE: 20240108 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ALASKA AIR GROUP, INC. CENTRAL INDEX KEY: 0000766421 STANDARD INDUSTRIAL CLASSIFICATION: AIR TRANSPORTATION, SCHEDULED [4512] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 911292054 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-36542 FILM NUMBER: 24520587 BUSINESS ADDRESS: STREET 1: 19300 INTERNATIONAL BOULEVARD CITY: SEATTLE STATE: WA ZIP: 98188 BUSINESS PHONE: 206-392-5040 MAIL ADDRESS: STREET 1: 19300 INTERNATIONAL BOULEVARD CITY: SEATTLE STATE: WA ZIP: 98188 FORMER COMPANY: FORMER CONFORMED NAME: ALASKA AIR GROUP INC DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc. CENTRAL INDEX KEY: 0001364742 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] ORGANIZATION NAME: 02 Finance IRS NUMBER: 320174431 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 212-810-5300 MAIL ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 FORMER COMPANY: FORMER CONFORMED NAME: BlackRock, Inc. DATE OF NAME CHANGE: 20060929 FORMER COMPANY: FORMER CONFORMED NAME: New BlackRock, Inc. DATE OF NAME CHANGE: 20060601 SC 13G/A 1 us0116591092_010824.txt us0116591092_010824.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 7) ALASKA AIR GROUP INC -------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------- (Title of Class of Securities) 011659109 -------------------------------------------------------- (CUSIP Number) December 31, 2023 -------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 011659109 (1)Names of reporting persons. BlackRock, Inc. (2) Check the appropriate box if a member of a group (a) [ ] (b) [X] (3) SEC use only (4) Citizenship or place of organization Delaware Number of shares beneficially owned by each reporting person with: (5) Sole voting power 16153071 (6) Shared voting power 0 (7) Sole dispositive power 16545266 (8) Shared dispositive power 0 (9) Aggregate amount beneficially owned by each reporting person 16545266 (10) Check if the aggregate amount in Row (9) excludes certain shares (11) Percent of class represented by amount in Row 9 12.9% (12) Type of reporting person HC Item 1. Item 1(a) Name of issuer: ----------------------------------------------------------------------- ALASKA AIR GROUP INC Item 1(b) Address of issuer's principal executive offices: ----------------------------------------------------------------------- 19300 INTERNATIONAL BOULEVARD SEATTLE WA 98188 Item 2. 2(a) Name of person filing: ------------------------------------------------------------