State Street Corp Acquires 10,050 Shares of Allegiant Travel (NASDAQ:ALGT)

State Street Corp lifted its holdings in Allegiant Travel (NASDAQ:ALGT) by 1.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 608,977 shares of the transportation company’s stock after purchasing an additional 10,050 shares during the quarter. State Street Corp’s holdings in Allegiant Travel were worth $33,530,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Donald Smith & CO. Inc. lifted its position in shares of Allegiant Travel by 20.2% during the third 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. Diamond Hill Capital Management Inc. raised its holdings in Allegiant Travel by 1.9% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 945,839 shares of the transportation company’s stock worth $47,509,000 after purchasing an additional 17,792 shares during the last quarter. U S Global Investors Inc. lifted its position in Allegiant Travel by 51.9% during the 3rd quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock valued at $40,823,000 after purchasing an additional 253,198 shares during the period. American Century Companies Inc. lifted its position in Allegiant Travel by 15.1% during the 2nd quarter. American Century Companies Inc. now owns 428,787 shares of the transportation company’s stock valued at $21,538,000 after purchasing an additional 56,208 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of 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 valued at $14,176,000 after purchasing an additional 75,486 shares during the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

Wall Street Analysts Forecast Growth

ALGT has been the topic of several analyst reports. The Goldman Sachs Group restated a “neutral” rating and issued a $83.00 price objective on shares of Allegiant Travel in a report on Friday, November 15th. Susquehanna boosted their target price on Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Evercore ISI lifted their price objective on shares of Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a research note on Thursday, October 3rd. Wolfe Research downgraded shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Finally, StockNews.com upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a report on Thursday. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $68.00.

Allegiant Travel Trading Up 2.9 %

NASDAQ:ALGT opened at $84.47 on Friday. The company has a market cap of $1.55 billion, a P/E ratio of -56.31, a price-to-earnings-growth ratio of 7.17 and a beta of 1.67. Allegiant Travel has a twelve month low of $36.08 and a twelve month high of $94.45. The business has a 50 day moving average price of $73.84 and a two-hundred day moving average price of $56.77. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36.

Insider Buying and Selling

In other news, COO Keny Frank Wilper sold 635 shares of the company’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 sale, the chief operating officer now owns 16,353 shares in the company, valued at $1,025,169.57. This represents a 3.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Sandra Douglass Morgan sold 350 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 11,650 shares of the company’s stock, valued at $940,970.50. This represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,600 shares of company stock worth $2,476,465. 15.80% of the stock is owned by insiders.

About Allegiant Travel

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.