Public Sector Pension Investment Board Sells 1,100 Shares of Allegiant Travel (NASDAQ:ALGT)

Public Sector Pension Investment Board reduced its stake in shares of Allegiant Travel (NASDAQ:ALGT) by 3.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,734 shares of the transportation company’s stock after selling 1,100 shares during the period. Public Sector Pension Investment Board owned 0.17% of Allegiant Travel worth $1,692,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Algert Global LLC acquired a new stake in Allegiant Travel in the 3rd quarter worth approximately $579,000. Charles Schwab Investment Management Inc. raised its position in shares of Allegiant Travel by 41.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 257,456 shares of the transportation company’s stock valued at $14,176,000 after purchasing an additional 75,486 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in shares of Allegiant Travel in the third quarter worth $6,193,000. Intech Investment Management LLC bought a new stake in shares of Allegiant Travel during the 3rd quarter worth $450,000. Finally, Segall Bryant & Hamill LLC grew its stake in Allegiant Travel by 5.1% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 103,508 shares of the transportation company’s stock valued at $5,699,000 after buying an additional 5,052 shares during the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ALGT shares. Wolfe Research cut shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. TD Cowen increased their target price on Allegiant Travel from $42.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Barclays lifted their price target on Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. The Goldman Sachs Group reissued a “neutral” rating and issued a $83.00 price objective on shares of Allegiant Travel in a research report on Friday, November 15th. Finally, UBS Group initiated 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. Nine 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, the company has a consensus rating of “Hold” and an average target price of $65.44.

Insiders Place Their Bets

In related news, COO Keny Frank Wilper sold 635 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was 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 owns 16,353 shares in the company, valued at $1,025,169.57. This trade represents a 3.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the company’s stock in a transaction on 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,600 shares of company stock worth $2,476,465 over the last quarter. Company insiders own 15.80% of the company’s stock.

Allegiant Travel Price Performance

NASDAQ:ALGT opened at $81.12 on Friday. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -54.08, a PEG ratio of 6.54 and a beta of 1.67. The company has a 50-day moving average of $67.15 and a 200-day moving average of $54.00. Allegiant Travel has a 52 week low of $36.08 and a 52 week high of $86.94. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75.

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.