GAMMA Investing LLC Has $64,000 Stock Holdings in Allegiant Travel (NASDAQ:ALGT)

GAMMA Investing LLC grew its holdings in shares of Allegiant Travel (NASDAQ:ALGT) by 53.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 677 shares of the transportation company’s stock after acquiring an additional 236 shares during the quarter. GAMMA Investing LLC’s holdings in Allegiant Travel were worth $64,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ALGT. International Assets Investment Management LLC acquired a new position in Allegiant Travel during the 3rd quarter worth about $63,540,000. Charles Schwab Investment Management Inc. raised its position in shares of Allegiant Travel by 41.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 257,456 shares of the transportation company’s stock worth $14,176,000 after acquiring an additional 75,486 shares during the last quarter. Clearbridge Investments LLC acquired a new position in shares of Allegiant Travel in the second quarter worth approximately $8,959,000. Hauser Brothers GmbH boosted its holdings in Allegiant Travel by 73.0% in the third quarter. Hauser Brothers GmbH now owns 23,700 shares of the transportation company’s stock valued at $1,305,000 after acquiring an additional 10,000 shares during the last quarter. Finally, State Street Corp raised its stake in Allegiant Travel by 1.7% during the third quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock worth $33,530,000 after buying an additional 10,050 shares during the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

Allegiant Travel Stock Up 1.7 %

ALGT opened at $100.94 on Monday. Allegiant Travel has a twelve month low of $36.08 and a twelve month high of $101.71. 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’s 50-day moving average price is $83.32 and its two-hundred day moving average price is $61.20. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of -67.29, a PEG ratio of 7.17 and a beta of 1.62.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Morgan Stanley increased their price target on Allegiant Travel from $80.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. UBS Group assumed coverage on shares of Allegiant Travel in a report on Tuesday, November 26th. They set a “neutral” rating and a $16.00 price objective on the stock. TD Cowen increased their price target on Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, December 17th. Evercore ISI lifted their price objective on shares of Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $83.00 target price on shares of Allegiant Travel in a report on Friday, November 15th. Ten research 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 stock currently has an average rating of “Hold” and a consensus price target of $74.11.

Insiders Place Their Bets

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the business’s stock in a transaction on 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 sale, the chairman now 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sandra Douglass Morgan sold 350 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total value of $28,269.50. Following the sale, the director now owns 11,650 shares in the company, valued at approximately $940,970.50. The trade was a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,304 shares of company stock valued at $2,459,900 over the last ninety days. 15.80% of the stock is currently owned by insiders.

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.