Algert Global LLC Takes $579,000 Position in Allegiant Travel (NASDAQ:ALGT)

Algert Global LLC bought a new position in shares of Allegiant Travel (NASDAQ:ALGT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,508 shares of the transportation company’s stock, valued at approximately $579,000. Algert Global LLC owned about 0.06% of Allegiant Travel at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Donald Smith & CO. Inc. lifted its position in Allegiant Travel by 166.7% during the 2nd quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company’s stock worth $41,506,000 after buying an additional 516,545 shares in the last quarter. U S Global Investors Inc. raised its holdings in Allegiant Travel by 51.9% during the third quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock worth $40,823,000 after acquiring an additional 253,198 shares in the last quarter. Clearbridge Investments LLC acquired a new position in Allegiant Travel during the second quarter valued at approximately $8,959,000. Millennium Management LLC grew its stake in Allegiant Travel by 779.8% in the second quarter. Millennium Management LLC now owns 169,459 shares of the transportation company’s stock valued at $8,512,000 after purchasing an additional 150,197 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Allegiant Travel during the 3rd quarter worth approximately $63,540,000. Institutional investors own 85.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. UBS Group assumed coverage on shares of Allegiant Travel in a research note on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 target price for the company. Evercore ISI lifted their price objective on shares of Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a research report on Thursday, October 3rd. TD Cowen upped their target price on shares of Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a report on Friday, November 1st. Barclays lifted their price target on Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Finally, Susquehanna upped their price objective on Allegiant Travel from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $65.44.

Allegiant Travel Trading Up 1.0 %

Shares of ALGT stock opened at $81.84 on Friday. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $86.94. The firm has a 50 day moving average price of $65.13 and a two-hundred day moving average price of $53.48. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $1.50 billion, a PE ratio of -54.56, a price-to-earnings-growth ratio of 6.70 and a beta of 1.61.

Insider Activity at Allegiant Travel

In other news, COO Keny Frank Wilper sold 635 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total transaction of $39,808.15. Following the transaction, the chief operating officer now directly owns 16,353 shares of the company’s stock, valued at approximately $1,025,169.57. This trade represents a 3.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sandra Douglass Morgan sold 350 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total value of $28,269.50. Following the completion of the sale, the director now owns 11,650 shares of the company’s stock, valued at approximately $940,970.50. This trade represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,600 shares of company stock worth $2,476,465 in the last ninety days. 15.80% of the stock is owned by company insiders.

Allegiant Travel Company Profile

Allegiant Travel Company, a leisure travel company, provides travel services and products to residents of under-served cities in the United States. The company offers scheduled air transportation on limited-frequency, nonstop flights between under-served cities and leisure destinations. As of February 1, 2024, it operated a fleet of 126 Airbus A320 series aircraft.