Allegiant Travel (NASDAQ:ALGT) Shares Bought by Sei Investments Co.

Sei Investments Co. grew its holdings in shares of Allegiant Travel (NASDAQ:ALGT) by 22.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,108 shares of the transportation company’s stock after purchasing an additional 2,180 shares during the period. Sei Investments Co. owned approximately 0.07% of Allegiant Travel worth $608,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in ALGT. Donald Smith & CO. Inc. boosted its holdings in Allegiant Travel by 166.7% during the second 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. Mercer Global Advisors Inc. ADV acquired a new position in shares of Allegiant Travel in the 2nd quarter worth $4,263,000. Interval Partners LP acquired a new stake in shares of Allegiant Travel during the first quarter worth $5,641,000. American Century Companies Inc. raised its position in shares of Allegiant Travel by 15.1% during the second quarter. American Century Companies Inc. now owns 428,787 shares of the transportation company’s stock worth $21,538,000 after purchasing an additional 56,208 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings in shares of Allegiant Travel by 39.1% during the second quarter. First Eagle Investment Management LLC now owns 144,013 shares of the transportation company’s stock valued at $7,234,000 after purchasing an additional 40,500 shares during the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

Allegiant Travel Price Performance

ALGT opened at $55.92 on Wednesday. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.30. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $85.91. The stock has a fifty day moving average price of $44.51 and a 200 day moving average price of $51.52. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 6.10 and a beta of 1.65.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Wednesday, July 31st. The transportation company reported $1.77 EPS for the quarter, beating the consensus estimate of $0.84 by $0.93. The business had revenue of $666.28 million during the quarter, compared to analysts’ expectations of $657.74 million. Allegiant Travel had a positive return on equity of 3.48% and a negative net margin of 0.57%. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.35 EPS. Analysts forecast that Allegiant Travel will post 0.97 EPS for the current fiscal year.

Insider Transactions at Allegiant Travel

In related news, Director Gary Ellmer sold 1,000 shares of Allegiant Travel stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the sale, the director now owns 7,490 shares of the company’s stock, valued at approximately $337,050. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 1,699 shares of company stock worth $77,350 in the last 90 days. 17.50% of the stock is owned by insiders.

Analysts Set New Price Targets

ALGT has been the topic of several analyst reports. Susquehanna dropped their target price on shares of Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Barclays decreased their price objective on shares of Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Evercore ISI raised their target price on Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft cut Allegiant Travel from a “buy” rating to a “hold” rating and decreased their target price for the stock from $75.00 to $53.00 in a research report on Monday, July 8th. Finally, TD Cowen increased their price objective on Allegiant Travel from $33.00 to $42.00 and gave the stock a “hold” rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $61.25.

Allegiant Travel 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.