Intech Investment Management LLC Takes Position in Allegiant Travel (NASDAQ:ALGT)

Intech Investment Management LLC purchased a new position in shares of Allegiant Travel (NASDAQ:ALGT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,177 shares of the transportation company’s stock, valued at approximately $450,000.

Several other large investors have also recently added to or reduced their stakes in ALGT. Signaturefd LLC boosted its position in shares of Allegiant Travel by 149.2% in the third quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after acquiring an additional 273 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Allegiant Travel by 136.9% in the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 304 shares during the last quarter. Innealta Capital LLC purchased a new stake in Allegiant Travel during the second quarter valued at 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 raised its holdings in shares of Allegiant Travel by 275.1% in the 2nd quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock worth $64,000 after purchasing an additional 930 shares during the period. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ALGT. TD Cowen boosted their price objective on shares of Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Susquehanna boosted their price objective on Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Barclays boosted their price target on Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. 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 note on Thursday, October 3rd. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $83.00 target price on shares of Allegiant Travel in a research note on Friday, November 15th. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $65.44.

Insider Activity

In other news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $84.46, for a total transaction of $2,391,822.74. Following the sale, the chairman now directly owns 2,147,730 shares of the company’s stock, valued at $181,397,275.80. The trade was a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Keny Frank Wilper sold 635 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total value of $39,808.15. Following the sale, the chief operating officer now owns 16,353 shares in the company, valued at approximately $1,025,169.57. The trade was a 3.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,600 shares of company stock valued at $2,476,465. 15.80% of the stock is currently owned by company insiders.

Allegiant Travel Stock Down 1.3 %

NASDAQ:ALGT opened at $80.77 on Tuesday. 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 stock has a 50 day moving average of $65.13 and a 200-day moving average of $53.43. The firm has a market capitalization of $1.48 billion, a PE ratio of -54.56, a price-to-earnings-growth ratio of 6.77 and a beta of 1.61. Allegiant Travel has a 52 week low of $36.08 and a 52 week high of $86.94.

About Allegiant Travel

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.