Principal Financial Group Inc. Has $3.77 Million Position in Allegiant Travel (NASDAQ:ALGT)

Principal Financial Group Inc. decreased its holdings in shares of Allegiant Travel (NASDAQ:ALGT) by 4.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 68,455 shares of the transportation company’s stock after selling 2,937 shares during the period. Principal Financial Group Inc.’s holdings in Allegiant Travel were worth $3,769,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ALGT. Signaturefd LLC raised its holdings in shares of 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 acquiring an additional 273 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Allegiant Travel by 136.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock worth $29,000 after purchasing an additional 304 shares in the last quarter. NBC Securities Inc. raised its stake in shares of Allegiant Travel by 2,827.9% in 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 during the last quarter. Headlands Technologies LLC lifted its holdings in shares of Allegiant Travel by 170.6% in the second 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. Finally, Stifel Financial Corp purchased a new position in shares of Allegiant Travel during the third quarter valued at approximately $210,000. 85.81% of the stock is owned by institutional investors.

Allegiant Travel Trading Down 2.3 %

NASDAQ:ALGT opened at $91.95 on Friday. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $96.93. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The firm’s 50 day moving average is $79.06 and its 200 day moving average is $59.16. The stock has a market capitalization of $1.69 billion, a PE ratio of -61.30, a price-to-earnings-growth ratio of 7.17 and a beta of 1.67.

Insider Activity

In other news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of Allegiant Travel 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Keny Frank Wilper sold 635 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total transaction of $39,808.15. Following the sale, the chief operating officer now owns 16,353 shares in the company, valued at $1,025,169.57. The trade was a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,304 shares of company stock valued at $2,459,900 in the last 90 days. Insiders own 15.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. StockNews.com cut Allegiant Travel from a “hold” rating to a “sell” rating in a research note on Friday, December 27th. UBS Group started coverage on shares of Allegiant Travel in a research report on Tuesday, November 26th. They set a “neutral” rating and a $16.00 price target on the stock. Raymond James increased their price objective on shares of Allegiant Travel from $75.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday. Barclays boosted their target price on Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $83.00 price target on shares of Allegiant Travel in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $69.11.

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.