GAMMA Investing LLC Increases Position in Allegiant Travel (NASDAQ:ALGT)

GAMMA Investing LLC raised its position in shares of Allegiant Travel (NASDAQ:ALGT) by 53.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 677 shares of the transportation company’s stock after purchasing an additional 236 shares during the period. GAMMA Investing LLC’s holdings in Allegiant Travel were worth $64,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. raised its stake 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 acquiring an additional 167,148 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in Allegiant Travel by 1.9% in 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 period. U S Global Investors Inc. lifted its position in Allegiant Travel by 51.9% in the third 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 last quarter. State Street Corp boosted its stake in shares of Allegiant Travel by 1.7% during the third quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock valued at $33,530,000 after purchasing an additional 10,050 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of Allegiant Travel by 2.5% in the third quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock worth $34,584,000 after buying an additional 14,852 shares during the period. Institutional investors own 85.81% of the company’s stock.

Insider Activity at Allegiant Travel

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 shares were sold at an average price of $62.69, for a total value of $39,808.15. Following the transaction, the chief operating officer now owns 16,353 shares of the company’s stock, valued at approximately $1,025,169.57. This trade represents a 3.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $84.46, for a total transaction of $2,391,822.74. Following the sale, the chairman now directly owns 2,147,730 shares of the company’s stock, valued at approximately $181,397,275.80. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,304 shares of company stock valued at $2,459,900 over the last ninety days. Insiders own 15.80% of the company’s stock.

Allegiant Travel Stock Performance

Shares of ALGT opened at $100.94 on Monday. The company has a market cap of $1.85 billion, a price-to-earnings ratio of -67.29, a P/E/G ratio of 7.17 and a beta of 1.62. The business’s fifty day simple moving average is $83.32 and its two-hundred day simple moving average is $61.20. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $101.71. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ALGT shares. Morgan Stanley upped their price target on Allegiant Travel from $80.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. Wolfe Research lowered Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Raymond James upped their target price on shares of Allegiant Travel from $75.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, December 30th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $83.00 price objective on shares of Allegiant Travel in a research report on Friday, November 15th. Finally, TD Cowen boosted their target price on Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, December 17th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Allegiant Travel has a consensus rating of “Hold” and an average price target of $74.11.

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.