Franklin Resources Inc. increased its holdings in shares of Allegiant Travel (NASDAQ:ALGT - Free Report) by 2.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 600,211 shares of the transportation company's stock after purchasing an additional 14,852 shares during the quarter. Franklin Resources Inc. owned 3.27% of Allegiant Travel worth $34,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of ALGT. Barclays PLC raised its holdings in shares of Allegiant Travel by 136.9% during the third quarter. Barclays PLC now owns 31,876 shares of the transportation company's stock valued at $1,755,000 after purchasing an additional 18,421 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Allegiant Travel by 1.5% in the third quarter. Geode Capital Management LLC now owns 364,755 shares of the transportation company's stock valued at $20,089,000 after acquiring an additional 5,424 shares during the period. XTX Topco Ltd increased its position in shares of Allegiant Travel by 15.0% during the 3rd quarter. XTX Topco Ltd now owns 17,491 shares of the transportation company's stock valued at $963,000 after purchasing an additional 2,279 shares during the last quarter. State Street Corp grew its position in Allegiant Travel by 1.7% during the third quarter. State Street Corp now owns 608,977 shares of the transportation company's stock valued at $33,530,000 after buying an additional 10,050 shares during the period. Finally, Stifel Financial Corp purchased a new stake in Allegiant Travel during the third quarter valued at approximately $210,000. 85.81% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts recently commented on the company. Morgan Stanley raised their target price on Allegiant Travel from $80.00 to $90.00 and gave the stock an "equal weight" rating in a report on Wednesday, December 11th. UBS Group initiated coverage on Allegiant Travel in a research note on Tuesday, November 26th. They issued a "neutral" rating and a $16.00 price objective for the company. TD Cowen upped their target price on shares of Allegiant Travel from $50.00 to $70.00 and gave the stock a "hold" rating in a research report on Tuesday. Evercore ISI raised their price objective on Allegiant Travel from $60.00 to $65.00 and gave the company an "in-line" rating in a research report on Thursday, October 3rd. Finally, Wolfe Research cut Allegiant Travel from a "strong-buy" rating to a "hold" rating in a report on Monday, November 4th. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Allegiant Travel currently has a consensus rating of "Hold" and an average target price of $68.00.
Check Out Our Latest Analysis on ALGT
Insider Buying and Selling at Allegiant Travel
In other Allegiant Travel news, Director Sandra Douglass Morgan sold 350 shares of the business's stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total transaction of $28,269.50. Following the completion of the transaction, the director now owns 11,650 shares in the company, valued at $940,970.50. The trade was a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Keny Frank Wilper sold 635 shares of the stock in a transaction that occurred on 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 owns 16,353 shares in the company, valued at approximately $1,025,169.57. The trade was a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,600 shares of company stock worth $2,476,465 over the last quarter. Insiders own 15.80% of the company's stock.
Allegiant Travel Trading Up 1.6 %
Shares of NASDAQ ALGT traded up $1.27 during trading hours on Thursday, hitting $82.12. 184,009 shares of the company traded hands, compared to its average volume of 368,819. The company's 50 day moving average price is $73.31 and its 200 day moving average price is $56.55. Allegiant Travel has a 12 month low of $36.08 and a 12 month high of $94.45. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of -54.75, a price-to-earnings-growth ratio of 7.17 and a beta of 1.67. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36.
Allegiant Travel Profile
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Free Report)
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.
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