New York State Teachers Retirement System Sells 400 Shares of Allegiant Travel (NASDAQ:ALGT)

New York State Teachers Retirement System cut its stake in Allegiant Travel (NASDAQ:ALGT) by 2.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,496 shares of the transportation company’s stock after selling 400 shares during the quarter. New York State Teachers Retirement System owned about 0.10% of Allegiant Travel worth $1,647,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ALGT. Donald Smith & CO. Inc. raised its holdings in Allegiant Travel by 20.2% in the 3rd quarter. Donald Smith & CO. Inc. now owns 993,474 shares of the transportation company’s stock worth $54,701,000 after purchasing an additional 167,148 shares in the last quarter. International Assets Investment Management LLC bought a new position in Allegiant Travel in the 3rd quarter worth $63,540,000. Landscape Capital Management L.L.C. bought a new position in Allegiant Travel in the 3rd quarter worth $6,193,000. Charles Schwab Investment Management Inc. raised its holdings in Allegiant Travel by 41.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 257,456 shares of the transportation company’s stock worth $14,176,000 after purchasing an additional 75,486 shares in the last quarter. Finally, Barclays PLC grew its position in shares of Allegiant Travel by 136.9% in the 3rd quarter. Barclays PLC now owns 31,876 shares of the transportation company’s stock worth $1,755,000 after buying an additional 18,421 shares during the period. 85.81% of the stock is currently owned by institutional investors.

Insider Transactions at Allegiant Travel

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $84.46, for a total value of $2,391,822.74. Following the completion of the sale, the chairman now directly 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 Securities & Exchange Commission, which is available through the SEC website. Also, Director Sandra Douglass Morgan sold 350 shares of the company’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 completion of the sale, the director now 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 own 15.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ALGT. Barclays upped their target price on shares of Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. TD Cowen upped their target price on shares of Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, December 17th. Susquehanna upped their target price on shares of Allegiant Travel from $60.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Raymond James upped their target price on shares of Allegiant Travel from $75.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, December 30th. Finally, Wolfe Research downgraded shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Allegiant Travel currently has a consensus rating of “Hold” and an average price target of $80.10.

Allegiant Travel Price Performance

ALGT opened at $81.64 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The stock has a market capitalization of $1.50 billion, a P/E ratio of -6.11 and a beta of 1.63. The company’s 50-day simple moving average is $93.51 and its two-hundred day simple moving average is $70.73. Allegiant Travel has a 52-week low of $36.08 and a 52-week high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $1.62. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. As a group, analysts predict that Allegiant Travel will post 7.7 EPS for the current year.

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.