Allegiant Travel (NASDAQ:ALGT) Stock Position Lowered by RK Asset Management LLC

RK Asset Management LLC lessened its holdings in Allegiant Travel (NASDAQ:ALGT - Free Report) by 5.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,759 shares of the transportation company's stock after selling 5,628 shares during the quarter. Allegiant Travel makes up about 7.0% of RK Asset Management LLC's holdings, making the stock its 3rd largest position. RK Asset Management LLC owned 0.49% of Allegiant Travel worth $8,542,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in shares of Allegiant Travel by 7.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 215,533 shares of the transportation company's stock worth $10,826,000 after buying an additional 15,469 shares during the last quarter. Versor Investments LP boosted its stake in Allegiant Travel by 34.5% in the second quarter. Versor Investments LP now owns 5,794 shares of the transportation company's stock valued at $291,000 after acquiring an additional 1,486 shares in the last quarter. First Pacific Advisors LP grew its holdings in shares of Allegiant Travel by 10.4% during the second quarter. First Pacific Advisors LP now owns 34,186 shares of the transportation company's stock worth $1,717,000 after purchasing an additional 3,224 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Allegiant Travel by 25.6% in the 2nd quarter. Victory Capital Management Inc. now owns 16,614 shares of the transportation company's stock valued at $835,000 after purchasing an additional 3,391 shares during the last quarter. Finally, Foundry Partners LLC lifted its holdings in shares of Allegiant Travel by 14.9% in the 2nd quarter. Foundry Partners LLC now owns 4,709 shares of the transportation company's stock valued at $237,000 after purchasing an additional 612 shares during the last quarter. 85.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on ALGT. Susquehanna lifted their price target on Allegiant Travel from $55.00 to $60.00 and gave the stock a "neutral" rating in a research report on Monday, November 4th. UBS Group assumed coverage on shares of Allegiant Travel in a research report on Tuesday, November 26th. They set a "neutral" rating and a $16.00 target price on the stock. TD Cowen upped their price target on shares of Allegiant Travel from $50.00 to $70.00 and gave the company a "hold" rating in a research report on Tuesday, December 17th. Morgan Stanley raised their price objective on shares of Allegiant Travel from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Wednesday, December 11th. Finally, Evercore ISI lifted their price objective on shares of Allegiant Travel from $60.00 to $65.00 and gave the company an "in-line" rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $69.11.

Allegiant Travel Stock Performance

Shares of Allegiant Travel stock traded up $1.98 on Friday, reaching $93.93. 258,205 shares of the stock were exchanged, compared to its average volume of 263,102. The firm has a market capitalization of $1.72 billion, a PE ratio of -62.62, a PEG ratio of 7.17 and a beta of 1.67. Allegiant Travel has a 1-year low of $36.08 and a 1-year high of $96.93. The business has a fifty day moving average price of $79.70 and a two-hundred day moving average price of $59.43. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36.

Insiders Place Their Bets

In other Allegiant Travel news, COO Keny Frank Wilper sold 635 shares of the company's stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total transaction of $39,808.15. Following the transaction, the chief operating officer now directly owns 16,353 shares in the company, valued at approximately $1,025,169.57. This represents a 3.74 % decrease in their ownership of the stock. The sale 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 stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 2,147,730 shares of the company's stock, valued at approximately $181,397,275.80. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,304 shares of company stock worth $2,459,900. Company insiders own 15.80% of the company's stock.

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.