State of Alaska Department of Revenue Reduces Stock Position in Allegiant Travel (NASDAQ:ALGT)

State of Alaska Department of Revenue reduced its stake in Allegiant Travel (NASDAQ:ALGT) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,285 shares of the transportation company’s stock after selling 201 shares during the quarter. State of Alaska Department of Revenue’s holdings in Allegiant Travel were worth $456,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets raised its position in shares of Allegiant Travel by 369.1% during the 1st quarter. BNP Paribas Financial Markets now owns 23,874 shares of the transportation company’s stock valued at $1,796,000 after buying an additional 18,785 shares during the period. Janney Montgomery Scott LLC raised its position in Allegiant Travel by 18.8% in the first quarter. Janney Montgomery Scott LLC now owns 7,799 shares of the transportation company’s stock valued at $587,000 after purchasing an additional 1,235 shares during the period. Empowered Funds LLC lifted its stake in shares of Allegiant Travel by 7.8% in the 1st quarter. Empowered Funds LLC now owns 71,275 shares of the transportation company’s stock valued at $5,361,000 after purchasing an additional 5,175 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Allegiant Travel during the 1st quarter worth $141,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Allegiant Travel during the 1st quarter worth about $1,306,000. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Susquehanna increased their target price on shares of Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. TD Cowen increased their price objective on shares of Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Evercore ISI boosted their target price on Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a research report on Thursday, October 3rd. Barclays upped their price target on Allegiant Travel from $45.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Finally, Wolfe Research cut Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $65.38.

Allegiant Travel Stock Up 3.7 %

Allegiant Travel stock opened at $73.72 on Friday. The firm has a market capitalization of $1.35 billion, a P/E ratio of -49.15, a P/E/G ratio of 5.24 and a beta of 1.61. The stock’s fifty day simple moving average is $54.50 and its 200-day simple moving average is $51.26. Allegiant Travel has a twelve month low of $36.08 and a twelve month high of $85.91. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.30.

Insider Buying and Selling at Allegiant Travel

In related news, COO Keny Frank Wilper sold 635 shares of Allegiant Travel stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total value of $39,808.15. Following the completion of the transaction, the chief operating officer now owns 16,353 shares in the company, valued at $1,025,169.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Gary Ellmer sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the sale, the director now owns 7,490 shares of the company’s stock, valued at approximately $337,050. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Keny Frank Wilper sold 635 shares of the company’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 value of $39,808.15. Following the completion of the transaction, the chief operating officer now directly owns 16,353 shares of the company’s stock, valued at $1,025,169.57. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,334 shares of company stock valued at $117,158 in the last quarter. Corporate insiders own 15.80% of the company’s stock.

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.