BNP Paribas Financial Markets Sells 15,995 Shares of Allegiant Travel (NASDAQ:ALGT)

BNP Paribas Financial Markets reduced its holdings in Allegiant Travel (NASDAQ:ALGT - Free Report) by 42.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,675 shares of the transportation company's stock after selling 15,995 shares during the period. BNP Paribas Financial Markets owned 0.12% of Allegiant Travel worth $1,193,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC increased its stake in Allegiant Travel by 149.2% in the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company's stock valued at $25,000 after buying an additional 273 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Allegiant Travel by 136.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company's stock worth $29,000 after purchasing an additional 304 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Allegiant Travel during the 2nd quarter worth about $34,000. CWM LLC increased its stake in shares of Allegiant Travel by 275.1% during the 2nd quarter. CWM LLC now owns 1,268 shares of the transportation company's stock worth $64,000 after purchasing an additional 930 shares during the last quarter. Finally, NBC Securities Inc. increased its stake in shares of Allegiant Travel by 2,827.9% during the 3rd quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company's stock worth $69,000 after purchasing an additional 1,216 shares during the last quarter. 85.81% of the stock is currently owned by institutional investors and hedge funds.

Allegiant Travel Stock Up 0.6 %

Shares of Allegiant Travel stock traded up $0.52 during trading hours on Tuesday, reaching $82.78. The company's stock had a trading volume of 252,525 shares, compared to its average volume of 368,124. Allegiant Travel has a one year low of $36.08 and a one year high of $86.94. The company has a market capitalization of $1.52 billion, a P/E ratio of -55.19, a P/E/G ratio of 6.60 and a beta of 1.67. The stock's fifty day simple moving average is $69.39 and its two-hundred day simple moving average is $54.95. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75.

Insider Buying and Selling at Allegiant Travel

In related news, Director Sandra Douglass Morgan sold 350 shares of the firm's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total transaction of $28,269.50. Following the completion of the sale, the director now owns 11,650 shares in the company, valued at approximately $940,970.50. This trade represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $2,391,822.74. Following the completion of the transaction, the chairman now 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 29,600 shares of company stock valued at $2,476,465. Corporate insiders own 15.80% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Evercore ISI boosted their price objective on shares of Allegiant Travel from $60.00 to $65.00 and gave the stock an "in-line" rating in a research note on Thursday, October 3rd. Barclays boosted their price objective on shares of Allegiant Travel from $50.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 14th. TD Cowen boosted their price objective on shares of Allegiant Travel from $42.00 to $50.00 and gave the stock a "hold" rating in a research note on Friday, November 1st. The Goldman Sachs Group restated a "neutral" rating and set a $83.00 price objective on shares of Allegiant Travel in a research note on Friday, November 15th. Finally, Susquehanna upped their price target on shares of Allegiant Travel from $55.00 to $60.00 and gave the company a "neutral" rating in a research note on Monday, November 4th. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $65.44.

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.