Fmr LLC Has $108,000 Stake in Allegiant Travel (NASDAQ:ALGT)

Fmr LLC reduced its position in shares of Allegiant Travel (NASDAQ:ALGT) by 89.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,956 shares of the transportation company’s stock after selling 15,811 shares during the period. Fmr LLC’s holdings in Allegiant Travel were worth $108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ALGT. Donald Smith & CO. Inc. increased its stake in Allegiant Travel by 166.7% in the second quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company’s stock valued at $41,506,000 after acquiring an additional 516,545 shares during the last quarter. U S Global Investors Inc. raised its stake in Allegiant Travel by 51.9% during the third quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock worth $40,823,000 after buying an additional 253,198 shares during the last quarter. Clearbridge Investments LLC bought a new position in shares of Allegiant Travel during the 2nd quarter worth approximately $8,959,000. Millennium Management LLC raised its stake in Allegiant Travel by 779.8% during the 2nd quarter. Millennium Management LLC now owns 169,459 shares of the transportation company’s stock worth $8,512,000 after buying an additional 150,197 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of Allegiant Travel during the third quarter valued at about $63,540,000. 85.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ALGT has been the topic of several analyst reports. Wolfe Research cut shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Morgan Stanley boosted their price objective on shares of Allegiant Travel from $80.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. TD Cowen raised their price target on Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, December 17th. Susquehanna boosted their price objective 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. Finally, Evercore ISI boosted their target price on shares of Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Ten investment analysts have rated the stock with a hold rating and one has issued 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.

Insider Activity

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of Allegiant Travel stock in a transaction dated Monday, November 25th. The stock was 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 directly owns 2,147,730 shares of the company’s stock, valued at $181,397,275.80. The trade was a 1.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Keny Frank Wilper sold 635 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total value of $39,808.15. Following the transaction, the chief operating officer now directly owns 16,353 shares of the company’s stock, valued at approximately $1,025,169.57. This represents a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,600 shares of company stock worth $2,476,465 over the last three months. Insiders own 15.80% of the company’s stock.

Allegiant Travel Stock Up 3.4 %

NASDAQ ALGT opened at $87.30 on Tuesday. Allegiant Travel has a one year low of $36.08 and a one year high of $94.45. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The business has a fifty day moving average price of $73.84 and a 200 day moving average price of $56.81. The company has a market cap of $1.60 billion, a P/E ratio of -58.20, a P/E/G 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.