State Street Corp Has $33.53 Million Stock Position in Allegiant Travel (NASDAQ:ALGT)

State Street Corp increased its position in shares of Allegiant Travel (NASDAQ:ALGT) by 1.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 608,977 shares of the transportation company’s stock after acquiring an additional 10,050 shares during the quarter. State Street Corp owned 3.32% of Allegiant Travel worth $33,530,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Signaturefd LLC grew its position in Allegiant Travel by 149.2% during the third quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 273 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Allegiant Travel by 136.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after buying an additional 304 shares during the period. Innealta Capital LLC acquired a new position in shares of Allegiant Travel in the second quarter worth $34,000. NBC Securities Inc. boosted its position 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 valued at $69,000 after purchasing an additional 1,216 shares during the last quarter. Finally, Headlands Technologies LLC increased its position in Allegiant Travel by 170.6% in the 2nd quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock worth $127,000 after purchasing an additional 1,590 shares during the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Insider Buying and Selling

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of Allegiant Travel stock in a transaction that occurred 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 approximately $181,397,275.80. The trade was a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sandra Douglass Morgan sold 350 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total value of $28,269.50. Following the completion of the transaction, the director now directly owns 11,650 shares of the company’s stock, 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 have sold a total of 29,600 shares of company stock valued at $2,476,465 over the last three months. 15.80% of the stock is owned by corporate insiders.

Allegiant Travel Stock Performance

Shares of NASDAQ ALGT opened at $84.47 on Friday. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $94.45. The company has a market cap of $1.55 billion, a P/E ratio of -56.31, a P/E/G ratio of 7.17 and a beta of 1.67. The business’s 50 day moving average is $73.84 and its two-hundred day moving average is $56.77. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36.

Analysts Set New Price Targets

A number of research firms have issued reports on ALGT. Morgan Stanley lifted their target price on shares of Allegiant Travel from $80.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. Wolfe Research lowered shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. UBS Group began coverage on shares of Allegiant Travel in a research report on Tuesday, November 26th. They set a “neutral” rating and a $16.00 target price on the stock. Susquehanna boosted their price target on Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Finally, Barclays increased their price objective on Allegiant Travel from $50.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $68.00.

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.