Geode Capital Management LLC Raises Stock Position in Allegiant Travel (NASDAQ:ALGT)

Geode Capital Management LLC raised its holdings in Allegiant Travel (NASDAQ:ALGT) by 1.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 364,755 shares of the transportation company’s stock after purchasing an additional 5,424 shares during the quarter. Geode Capital Management LLC owned 1.99% of Allegiant Travel worth $20,089,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Signaturefd LLC boosted its position in shares of Allegiant Travel by 149.2% during the third quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after buying an additional 273 shares during the period. Nisa Investment Advisors LLC raised its position in Allegiant Travel by 136.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 304 shares in the last quarter. Privium Fund Management UK Ltd boosted its stake in shares of Allegiant Travel by 3.5% in the 3rd quarter. Privium Fund Management UK Ltd now owns 10,549 shares of the transportation company’s stock valued at $581,000 after buying an additional 358 shares during the period. SeaCrest Wealth Management LLC lifted its position in shares of Allegiant Travel by 8.1% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 6,010 shares of the transportation company’s stock worth $331,000 after purchasing an additional 450 shares during the last quarter. Finally, Inspire Investing LLC grew its stake in shares of Allegiant Travel by 8.1% during the third quarter. Inspire Investing LLC now owns 7,490 shares of the transportation company’s stock worth $412,000 after purchasing an additional 562 shares in the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Insider Activity

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 owns 11,650 shares in the company, valued at $940,970.50. This trade represents a 2.92 % 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 transaction of $39,808.15. Following the sale, the chief operating officer now directly owns 16,353 shares in the company, valued at approximately $1,025,169.57. This represents a 3.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,600 shares of company stock valued at $2,476,465 in the last three months. 15.80% of the stock is currently owned by company insiders.

Allegiant Travel Price Performance

Shares of NASDAQ:ALGT opened at $91.11 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The company has a 50-day moving average price of $76.68 and a 200 day moving average price of $58.08. Allegiant Travel has a 52 week low of $36.08 and a 52 week high of $94.45. The company has a market cap of $1.67 billion, a P/E ratio of -60.74, a PEG ratio of 7.17 and a beta of 1.67.

Analyst Ratings Changes

A number of analysts have weighed in on the company. UBS Group assumed coverage on Allegiant Travel in a research note on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 price target on the stock. Evercore ISI lifted their target price on Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. TD Cowen upped their target price on Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, December 17th. StockNews.com downgraded Allegiant Travel from a “hold” rating to a “sell” rating in a research note on Friday. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $83.00 price objective on shares of Allegiant Travel in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $68.00.

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.