Allegiant Travel (NASDAQ:ALGT) Holdings Lowered by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System decreased its stake in Allegiant Travel (NASDAQ:ALGT) by 4.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,000 shares of the transportation company’s stock after selling 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Allegiant Travel were worth $385,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Allegiant Travel by 2.3% in the first quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company’s stock valued at $131,591,000 after purchasing an additional 38,612 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in Allegiant Travel by 1.9% during the second quarter. Diamond Hill Capital Management Inc. now owns 945,839 shares of the transportation company’s stock valued at $47,509,000 after buying an additional 17,792 shares during the period. Donald Smith & CO. Inc. lifted its stake in Allegiant Travel by 166.7% in the 2nd quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company’s stock worth $41,506,000 after acquiring an additional 516,545 shares in the last quarter. U S Global Investors Inc. boosted its position in Allegiant Travel by 51.9% during the 3rd quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock worth $40,823,000 after acquiring an additional 253,198 shares during the period. Finally, American Century Companies Inc. grew its stake in Allegiant Travel by 15.1% during the 2nd quarter. American Century Companies Inc. now owns 428,787 shares of the transportation company’s stock valued at $21,538,000 after acquiring an additional 56,208 shares in the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Allegiant Travel Stock Up 11.5 %

ALGT stock opened at $73.87 on Thursday. The firm has a market cap of $1.35 billion, a PE ratio of -49.01, a PEG ratio of 4.61 and a beta of 1.61. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $85.91. The company has a fifty day simple moving average of $52.65 and a 200 day simple moving average of $50.88. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.30.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ALGT shares. TD Cowen increased their price target on shares of Allegiant Travel from $42.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Evercore ISI increased their target price on shares of Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. Wolfe Research cut shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday. Barclays upped their price target on shares of Allegiant Travel from $45.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Susquehanna lifted their price objective on Allegiant Travel from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $65.38.

Insiders Place Their Bets

In other news, Director Gary Ellmer sold 1,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the transaction, the director now owns 7,490 shares of the company’s stock, valued at approximately $337,050. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the sale, the director now owns 7,490 shares of the company’s stock, valued at $337,050. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Keny Frank Wilper sold 635 shares of Allegiant Travel stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total transaction 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 approximately $1,025,169.57. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,334 shares of company stock valued at $117,158 over the last quarter. Insiders own 15.80% of the company’s stock.

Allegiant Travel Company 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.