Assenagon Asset Management S.A. Invests $285,000 in Allegiant Travel (NASDAQ:ALGT)

Assenagon Asset Management S.A. acquired a new stake in shares of Allegiant Travel (NASDAQ:ALGT) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 5,682 shares of the transportation company’s stock, valued at approximately $285,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC purchased a new stake in shares of Allegiant Travel during the fourth quarter valued at about $28,000. CWM LLC raised its stake in shares of Allegiant Travel by 275.1% during the 2nd quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock worth $64,000 after acquiring an additional 930 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Allegiant Travel during the first quarter valued at approximately $141,000. Commerce Bank acquired a new stake in Allegiant Travel in the fourth quarter valued at approximately $201,000. Finally, Aigen Investment Management LP purchased a new position in Allegiant Travel in the fourth quarter worth $213,000. Institutional investors own 85.81% of the company’s stock.

Analyst Ratings Changes

ALGT has been the subject of several analyst reports. Barclays decreased their price objective on Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Morgan Stanley lowered their price target on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. TD Cowen cut their price objective on shares of Allegiant Travel from $39.00 to $33.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Evercore ISI lowered their target price on shares of Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating for the company in a research note on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Allegiant Travel from a “buy” rating to a “hold” rating and cut their price target for the company from $75.00 to $53.00 in a research note on Monday, July 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Allegiant Travel currently has an average rating of “Hold” and an average price target of $59.50.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, EVP Robert Paul Wilson III sold 750 shares of Allegiant Travel stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $53.00, for a total transaction of $39,750.00. Following the completion of the transaction, the executive vice president now owns 74,948 shares in the company, valued at approximately $3,972,244. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Keny Frank Wilper sold 1,000 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $51.00, for a total value of $51,000.00. Following the completion of the transaction, the chief operating officer now directly owns 9,422 shares in the company, valued at approximately $480,522. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Robert Paul Wilson III sold 750 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $53.00, for a total transaction of $39,750.00. Following the sale, the executive vice president now directly owns 74,948 shares in the company, valued at $3,972,244. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,153 shares of company stock valued at $106,536. 17.50% of the stock is owned by insiders.

Allegiant Travel Trading Up 9.5 %

Allegiant Travel stock opened at $44.78 on Friday. Allegiant Travel has a 52 week low of $36.08 and a 52 week high of $94.07. The stock has a 50-day moving average price of $47.14 and a 200 day moving average price of $58.19. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $816.43 million, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 2.06 and a beta of 1.66.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Wednesday, July 31st. The transportation company reported $1.77 EPS for the quarter, beating the consensus estimate of $0.84 by $0.93. The business had revenue of $666.28 million during the quarter, compared to analysts’ expectations of $657.74 million. Allegiant Travel had a negative net margin of 0.57% and a positive return on equity of 3.48%. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $4.35 EPS. Sell-side analysts anticipate that Allegiant Travel will post 3.08 EPS for the current year.

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.