Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Paul Reeder and Edward Shapiro’s PAR Capital Bought More $ALK

Paul Reeder and Edward Shapiro’s PAR Capital filed 13G on October 19th for its 5% passive stake in Alaska Air Group Inc. (ALK). The 13G filing shows PAR Capital has boosted its ALK position to 1.81 million shares, from its previous 416 thousand shares as reported in the second quarter. ALK had a strong path before the third quarter, but it was hammered in July and early August and fell by more than 25% during that period. It’s possible for PAR Capital to enter on October 3rd or 4th when ALK showed a recovery signal. After that, ALK has experienced a strong uptrend and now the stock has realized an 11% year to date return. ALK is now priced at about $66.

Alaska Air Group, Inc. (NYSE:ALK)

According to Insider Monkey’s hedge fund database, totally twenty hedge funds reported their positions in ALK in the second quarter. Jim Simons’ Renaissance Technologies had significantly more shares than the others. The firm increased its position by 6% and had 1.69 million ALK shares before June. Paul Reeder and Edward Shapiro’s PAR Capital took the second place, with 416 thousand shares. Other famous hedge funds also had some small positions in the stock, including Ken Griffin’s Citadel Investment Group with 21 thousand shares, Steven Cohen’s SAC Capital with 8 thousand shares.

According to the firm profile on LinkedIn, PAR Capital (also known as PAR Investment Partners) is a hedge fund with over $2.46 billion in managed capital. The firm balances its large holdings in publicly traded securities with related private equity stakes in travel and online media. PAR owns major stakes in United States airlines, broadband access providers, and large Internet portals.

Alaska Air Group Inc. is a serving destinations airline company in the western United States, Canada, and Mexico. The company has two principal subsidiaries: Alaska Airlines, Inc. (Alaska) and Horizon Air Industries, Inc. (Horizon). Through these subsidiaries, the company provides passenger air service to more than 23 million passengers per year to more than 90 destinations. The company was founded in 1932 and is based in Seattle, Washington.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.