Empowered Funds LLC Acquires 4,053 Shares of Allegiant Travel (NASDAQ:ALGT)

Empowered Funds LLC lifted its stake in Allegiant Travel (NASDAQ:ALGT - Free Report) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,748 shares of the transportation company's stock after purchasing an additional 4,053 shares during the quarter. Empowered Funds LLC owned 0.46% of Allegiant Travel worth $7,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in ALGT. Nisa Investment Advisors LLC raised its position in Allegiant Travel by 1,614.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 9,017 shares of the transportation company's stock valued at $849,000 after acquiring an additional 8,491 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Allegiant Travel in the third quarter valued at approximately $63,540,000. Charles Schwab Investment Management Inc. raised its position in shares of Allegiant Travel by 41.5% in the third 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 period. Hauser Brothers GmbH raised its position in shares of Allegiant Travel by 73.0% in the third quarter. Hauser Brothers GmbH now owns 23,700 shares of the transportation company's stock valued at $1,305,000 after purchasing an additional 10,000 shares during the period. Finally, State Street Corp raised its position in shares of Allegiant Travel by 1.7% in 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. 85.81% of the stock is owned by hedge funds and other institutional investors.

Allegiant Travel Stock Performance

ALGT traded up $1.71 during trading on Friday, reaching $83.26. 390,625 shares of the company's stock were exchanged, compared to its average volume of 354,504. Allegiant Travel has a fifty-two week low of $36.08 and a fifty-two week high of $107.57. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The business has a 50 day moving average price of $93.55 and a 200 day moving average price of $69.31. The company has a market capitalization of $1.53 billion, a P/E ratio of -6.23, a PEG ratio of 1.03 and a beta of 1.63.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $1.62. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. As a group, analysts predict that Allegiant Travel will post 7.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of Allegiant Travel stock in a transaction on Monday, November 25th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sandra Douglass Morgan sold 350 shares of Allegiant Travel stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total value of $28,269.50. Following the transaction, the director now directly owns 11,650 shares of the company's stock, valued at approximately $940,970.50. The trade was a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 15.80% of the company's stock.

Analyst Upgrades and Downgrades

ALGT has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of Allegiant Travel from $90.00 to $95.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. TD Cowen lifted 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. UBS Group initiated coverage on shares of Allegiant Travel in a research report on Tuesday, November 26th. They issued a "neutral" rating and a $16.00 price target on the stock. Barclays raised their price objective on shares of Allegiant Travel from $85.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group raised their price objective on shares of Allegiant Travel from $83.00 to $92.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, Allegiant Travel currently has a consensus rating of "Hold" and a consensus target price of $80.10.

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.