Diamond Hill Capital Management Inc. Reduces Stake in Allegiant Travel (NASDAQ:ALGT)

Diamond Hill Capital Management Inc. cut its holdings in Allegiant Travel (NASDAQ:ALGT - Free Report) by 24.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 711,924 shares of the transportation company's stock after selling 233,915 shares during the quarter. Diamond Hill Capital Management Inc. owned 3.89% of Allegiant Travel worth $39,199,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Donald Smith & CO. Inc. lifted its holdings in shares of Allegiant Travel by 166.7% during the 2nd quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company's stock valued at $41,506,000 after buying an additional 516,545 shares during the period. U S Global Investors Inc. lifted its holdings in shares of Allegiant Travel by 51.9% during the 3rd quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company's stock valued at $40,823,000 after buying an additional 253,198 shares during the period. Clearbridge Investments LLC bought a new position in shares of Allegiant Travel during the 2nd quarter valued at $8,959,000. Millennium Management LLC lifted its holdings in shares of Allegiant Travel by 779.8% during the 2nd quarter. Millennium Management LLC now owns 169,459 shares of the transportation company's stock valued at $8,512,000 after buying an additional 150,197 shares during the period. Finally, International Assets Investment Management LLC bought a new position in shares of Allegiant Travel during the 3rd quarter valued at $63,540,000. 85.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the sale, the director now owns 7,490 shares in the company, valued at approximately $337,050. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Gary Ellmer sold 1,000 shares of Allegiant Travel stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the sale, the director now directly owns 7,490 shares of the company's stock, valued at approximately $337,050. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Keny Frank Wilper sold 635 shares of Allegiant Travel stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total value of $39,808.15. Following the completion of the sale, the chief operating officer now directly owns 16,353 shares in the company, valued at $1,025,169.57. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,334 shares of company stock worth $117,158. Corporate insiders own 15.80% of the company's stock.

Allegiant Travel Price Performance

ALGT stock traded down $0.45 during trading on Monday, reaching $73.27. The company's stock had a trading volume of 162,340 shares, compared to its average volume of 370,341. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $85.91. The company has a quick ratio of 0.71, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $1.34 billion, a P/E ratio of -49.15, a price-to-earnings-growth ratio of 5.87 and a beta of 1.61. The company's fifty day moving average is $54.50 and its 200-day moving average is $51.13.

Analyst Ratings Changes

ALGT has been the topic of several research analyst reports. TD Cowen increased their price target on Allegiant Travel from $42.00 to $50.00 and gave the company a "hold" rating in a report on Friday, November 1st. Susquehanna upped their price objective on Allegiant Travel from $55.00 to $60.00 and gave the stock a "neutral" rating in a research note on Monday, November 4th. Wolfe Research lowered Allegiant Travel from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 4th. Barclays upped their price objective on Allegiant Travel from $45.00 to $50.00 and gave the stock an "equal weight" rating in a research note on Monday, November 4th. Finally, Evercore ISI upped their price objective on Allegiant Travel from $60.00 to $65.00 and gave the stock an "in-line" rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $65.38.

Allegiant Travel 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.