Victory Capital Management Inc. Trims Stock Position in Allegiant Travel (NASDAQ:ALGT)

Victory Capital Management Inc. decreased its holdings in Allegiant Travel (NASDAQ:ALGT) by 69.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,151 shares of the transportation company’s stock after selling 11,463 shares during the quarter. Victory Capital Management Inc.’s holdings in Allegiant Travel were worth $284,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ALGT. Signaturefd LLC boosted its stake in shares of Allegiant Travel by 149.2% during the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after acquiring an additional 273 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Allegiant Travel by 136.9% during the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock worth $29,000 after acquiring an additional 304 shares during the last quarter. Innealta Capital LLC acquired a new stake in Allegiant Travel during the second quarter worth about $34,000. NBC Securities Inc. increased its stake in Allegiant Travel by 2,827.9% during the third quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock worth $69,000 after acquiring an additional 1,216 shares during the last quarter. Finally, CWM LLC grew its stake in shares of Allegiant Travel by 275.1% in the second quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock valued at $64,000 after buying an additional 930 shares in the last quarter. 85.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ALGT has been the topic of a number of research analyst reports. Susquehanna increased their target price on Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. TD Cowen raised their price target on Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, November 1st. The Goldman Sachs Group restated a “neutral” rating and issued a $83.00 target price on shares of Allegiant Travel in a research report on Friday, November 15th. Wolfe Research cut Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Finally, UBS Group began coverage on Allegiant Travel in a research report on Tuesday, November 26th. They set a “neutral” rating and a $16.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $65.44.

Allegiant Travel Price Performance

ALGT stock opened at $81.84 on Friday. The stock has a 50-day moving average price of $65.13 and a two-hundred day moving average price of $53.48. The stock has a market cap 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. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $86.94.

Insider Transactions at Allegiant Travel

In related news, Director Sandra Douglass Morgan sold 350 shares of the firm’s stock in a transaction dated 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 directly owns 11,650 shares in the company, valued at approximately $940,970.50. This trade represents a 2.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $84.46, for a total transaction of $2,391,822.74. Following the completion of the transaction, the chairman now directly owns 2,147,730 shares in the company, valued at approximately $181,397,275.80. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,600 shares of company stock worth $2,476,465 in the last three months. 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.