Fmr LLC Sells 15,811 Shares of Allegiant Travel (NASDAQ:ALGT)

FMR LLC lessened its position in Allegiant Travel (NASDAQ:ALGT - Free Report) by 89.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ALGT. Signaturefd LLC lifted its holdings in shares of Allegiant Travel by 149.2% during the third quarter. Signaturefd LLC now owns 456 shares of the transportation company's stock worth $25,000 after purchasing an additional 273 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Allegiant Travel by 136.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company's stock valued at $29,000 after buying an additional 304 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Allegiant Travel in the second quarter valued at about $34,000. NBC Securities Inc. increased its stake in shares of Allegiant Travel by 2,827.9% in the third quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company's stock valued at $69,000 after buying an additional 1,216 shares during the period. Finally, Headlands Technologies LLC raised its position in shares of Allegiant Travel by 170.6% during the second quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company's stock worth $127,000 after acquiring an additional 1,590 shares during the last quarter. 85.81% of the stock is currently owned by institutional investors.

Allegiant Travel Stock Up 3.5 %

Allegiant Travel stock traded up $3.04 during midday trading on Tuesday, reaching $90.34. The stock had a trading volume of 182,730 shares, compared to its average volume of 367,742. The company has a fifty day moving average price of $75.05 and a two-hundred day moving average price of $57.31. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $94.45. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $1.66 billion, a P/E ratio of -60.23, a PEG ratio of 7.17 and a beta of 1.67.

Insider Activity

In related news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $84.46, for a total value of $2,391,822.74. Following the sale, the chairman now owns 2,147,730 shares in the company, valued at $181,397,275.80. This represents a 1.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Keny Frank Wilper sold 635 shares of Allegiant Travel stock in a transaction dated 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 $1,025,169.57. This trade represents a 3.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,600 shares of company stock worth $2,476,465 over the last quarter. 15.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ALGT has been the subject of a number of recent analyst reports. Barclays increased their target price on shares of Allegiant Travel from $50.00 to $75.00 and gave the company an "equal weight" rating in a research report on Thursday, November 14th. Morgan Stanley increased 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. TD Cowen boosted their target price on shares of Allegiant Travel from $50.00 to $70.00 and gave the company a "hold" rating in a report on Tuesday, December 17th. The Goldman Sachs Group reiterated a "neutral" rating and set a $83.00 price target on shares of Allegiant Travel in a report on Friday, November 15th. Finally, StockNews.com raised Allegiant Travel from a "sell" rating to a "hold" rating in a research note on Thursday, December 19th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $68.00.

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.