Allegiant Travel (NASDAQ:ALGT) Shares Sold by RK Asset Management LLC

RK Asset Management LLC reduced its holdings in Allegiant Travel (NASDAQ:ALGT) by 5.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 90,759 shares of the transportation company’s stock after selling 5,628 shares during the period. Allegiant Travel comprises 7.0% of RK Asset Management LLC’s holdings, making the stock its 3rd largest position. RK Asset Management LLC’s holdings in Allegiant Travel were worth $8,542,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Signaturefd LLC boosted its holdings in Allegiant Travel by 149.2% in the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after buying an additional 273 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Allegiant Travel by 136.9% in the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 304 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Allegiant Travel by 53.5% during the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after purchasing an additional 236 shares in the last quarter. NBC Securities Inc. increased its position in shares of Allegiant Travel by 2,827.9% during the third quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock worth $69,000 after purchasing an additional 1,216 shares in the last quarter. Finally, Headlands Technologies LLC lifted its holdings in Allegiant Travel by 170.6% in the 2nd quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock valued at $127,000 after purchasing an additional 1,590 shares in the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Sandra Douglass Morgan sold 350 shares of the 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 completion of the sale, the director now owns 11,650 shares in the company, valued at approximately $940,970.50. This represents a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the business’s 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 trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,304 shares of company stock worth $2,459,900. 15.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ALGT has been the subject of a number of recent research reports. Susquehanna increased their target price on shares of Allegiant Travel from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. UBS Group started coverage on shares of Allegiant Travel in a research note on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 target price on the stock. Barclays upped their price target on Allegiant Travel from $50.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. The Goldman Sachs Group reiterated a “neutral” rating and set a $83.00 price objective on shares of Allegiant Travel in a research report on Friday, November 15th. Finally, Evercore ISI raised their target price 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $69.11.

Allegiant Travel Stock Up 2.2 %

NASDAQ:ALGT traded up $1.98 during midday trading on Friday, reaching $93.93. The company had a trading volume of 258,205 shares, compared to its average volume of 263,102. The stock’s fifty day simple moving average is $79.06 and its 200-day simple moving average is $59.16. 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 12-month low of $36.08 and a 12-month high of $96.93. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -62.62, a PEG ratio of 7.17 and a beta of 1.67.

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.