Barclays PLC Raises Stock Holdings in Allegiant Travel (NASDAQ:ALGT)

Barclays PLC boosted its holdings in shares of Allegiant Travel (NASDAQ:ALGT) by 136.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,876 shares of the transportation company’s stock after purchasing an additional 18,421 shares during the quarter. Barclays PLC owned approximately 0.17% of Allegiant Travel worth $1,755,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in Allegiant Travel in the third quarter worth about $63,540,000. Charles Schwab Investment Management Inc. lifted its holdings in Allegiant Travel by 41.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 257,456 shares of the transportation company’s stock worth $14,176,000 after buying an additional 75,486 shares during the last quarter. Clearbridge Investments LLC acquired a new position in shares of Allegiant Travel in the 2nd quarter worth approximately $8,959,000. Hauser Brothers GmbH increased its holdings in shares of Allegiant Travel by 73.0% in the 3rd 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 increased its holdings in shares of Allegiant Travel by 1.7% in the 3rd quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock valued at $33,530,000 after acquiring an additional 10,050 shares during the last quarter. 85.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $84.46, for a total value of $2,391,822.74. Following the completion of the transaction, the chairman now owns 2,147,730 shares in the company, valued at $181,397,275.80. This represents a 1.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $28,269.50. Following the transaction, the director now directly owns 11,650 shares in the company, valued at approximately $940,970.50. The trade was a 2.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,304 shares of company stock valued at $2,459,900 in the last three months. 15.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ALGT has been the topic of several research analyst reports. Evercore ISI raised their price objective on Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a research note on Thursday, October 3rd. Barclays lifted their price target on shares of Allegiant Travel from $50.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Susquehanna boosted their price objective on shares of Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group reissued a “neutral” rating and issued a $83.00 target price on shares of Allegiant Travel in a report on Friday, November 15th. Finally, Morgan Stanley upped their target price on Allegiant Travel from $80.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $74.11.

Allegiant Travel Price Performance

Shares of NASDAQ:ALGT opened at $100.94 on Friday. The firm’s 50 day moving average is $83.32 and its two-hundred day moving average is $61.13. The firm has a market capitalization of $1.85 billion, a P/E ratio of -67.29, a PEG ratio of 7.17 and a beta of 1.62. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. Allegiant Travel has a 52 week low of $36.08 and a 52 week high of $101.71.

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.