Allegiant Travel (NASDAQ:ALGT) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in shares of Allegiant Travel (NASDAQ:ALGT) by 4.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,455 shares of the transportation company’s stock after selling 2,937 shares during the period. Principal Financial Group Inc. owned about 0.37% of Allegiant Travel worth $3,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALGT. SG Americas Securities LLC acquired a new position in shares of Allegiant Travel in the first quarter worth about $141,000. ProShare Advisors LLC raised its position in shares of Allegiant Travel by 6.9% in the first quarter. ProShare Advisors LLC now owns 3,155 shares of the transportation company’s stock worth $237,000 after acquiring an additional 203 shares during the period. Vanguard Group Inc. increased its stake in shares of Allegiant Travel by 2.3% during the first quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock worth $131,591,000 after purchasing an additional 38,612 shares in the last quarter. Interval Partners LP purchased a new stake in shares of Allegiant Travel during the first quarter worth about $5,641,000. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Allegiant Travel by 7.9% during the second quarter. Harbor Capital Advisors Inc. now owns 7,591 shares of the transportation company’s stock worth $381,000 after purchasing an additional 553 shares in the last quarter. 85.81% of the stock is currently owned by institutional investors and hedge funds.

Allegiant Travel Trading Up 3.5 %

Shares of NASDAQ:ALGT opened at $75.25 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The company’s 50 day moving average is $60.51 and its two-hundred day moving average is $52.37. The company has a market cap of $1.38 billion, a PE ratio of -50.17, a P/E/G ratio of 5.85 and a beta of 1.61. Allegiant Travel has a 52 week low of $36.08 and a 52 week high of $85.91.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Wolfe Research cut shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. The Goldman Sachs Group reissued a “neutral” rating and issued a $83.00 price target on shares of Allegiant Travel in a research note on Friday, November 15th. Barclays increased their price target on shares of Allegiant Travel from $50.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. TD Cowen increased their price target on shares of Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Evercore ISI increased their price target on shares of Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Allegiant Travel currently has a consensus rating of “Hold” and a consensus price target of $70.11.

Insiders Place Their Bets

In other news, Director Gary Ellmer sold 1,000 shares of the firm’s 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 in the company, valued at approximately $337,050. This trade represents a 11.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Keny Frank Wilper sold 635 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total transaction of $39,808.15. Following the completion of the sale, the chief operating officer now owns 16,353 shares of the company’s stock, valued at $1,025,169.57. This trade represents a 3.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,931 shares of company stock valued at $101,372. Insiders own 15.80% of the company’s stock.

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.