Allegiant Travel (NASDAQ:ALGT) Holdings Trimmed by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in shares of Allegiant Travel (NASDAQ:ALGT) by 5.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,391 shares of the transportation company’s stock after selling 607 shares during the quarter. Thrivent Financial for Lutherans owned 0.06% of Allegiant Travel worth $627,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Signaturefd LLC increased its stake in Allegiant Travel by 149.2% in the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after purchasing an additional 273 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Allegiant Travel by 136.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock worth $29,000 after purchasing an additional 304 shares in the last quarter. Innealta Capital LLC purchased a new position in Allegiant Travel in the 2nd quarter worth about $34,000. CWM LLC increased its stake in 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 in the last quarter. Finally, NBC Securities Inc. increased its stake in Allegiant Travel by 2,827.9% in the 3rd quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock worth $69,000 after purchasing an additional 1,216 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

Allegiant Travel Stock Up 4.9 %

Shares of Allegiant Travel stock opened at $82.90 on Thursday. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -52.69, a P/E/G ratio of 6.68 and a beta of 1.67. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. Allegiant Travel has a 52-week low of $36.08 and a 52-week high of $86.94. The stock has a 50-day simple moving average of $66.44 and a 200-day simple moving average of $53.80.

Insider Activity

In related news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $84.46, for a total value of $2,391,822.74. Following the transaction, the chairman now directly owns 2,147,730 shares of the company’s stock, valued at approximately $181,397,275.80. This trade represents a 1.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Keny Frank Wilper sold 635 shares of the firm’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 in the company, valued at $1,025,169.57. The trade was a 3.74 % 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. 15.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on ALGT. TD Cowen raised their price objective on Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. The Goldman Sachs Group restated a “neutral” rating and set a $83.00 price objective on shares of Allegiant Travel in a research report on Friday, November 15th. Barclays raised their price objective 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. 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 objective for the company. Finally, Susquehanna raised their price objective on Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $65.44.

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.