Allegiant Travel (NASDAQ:ALGT) Stock Position Lessened by Inspire Investing LLC

Inspire Investing LLC lessened its stake in shares of Allegiant Travel (NASDAQ:ALGT - Free Report) by 42.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,279 shares of the transportation company's stock after selling 3,211 shares during the period. Inspire Investing LLC's holdings in Allegiant Travel were worth $403,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new stake in Allegiant Travel during the 2nd quarter worth approximately $1,728,000. Sei Investments Co. boosted its position in shares of Allegiant Travel by 22.0% in the 2nd quarter. Sei Investments Co. now owns 12,108 shares of the transportation company's stock valued at $608,000 after purchasing an additional 2,180 shares during the period. Public Sector Pension Investment Board grew its position in shares of Allegiant Travel by 8.4% during the second quarter. Public Sector Pension Investment Board now owns 31,834 shares of the transportation company's stock worth $1,599,000 after acquiring an additional 2,467 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Allegiant Travel during the second quarter worth about $3,122,000. Finally, AQR Capital Management LLC acquired a new position in shares of Allegiant Travel in the second quarter valued at approximately $450,000. Institutional investors and hedge funds own 85.81% of the company's stock.

Allegiant Travel Stock Performance

Shares of ALGT stock traded up $0.73 during mid-day trading on Friday, reaching $102.73. The company's stock had a trading volume of 192,408 shares, compared to its average volume of 242,934. The company's 50 day simple moving average is $89.21 and its 200-day simple moving average is $64.89. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $106.87.

Insiders Place Their Bets

In other news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $84.46, for a total transaction of $2,391,822.74. Following the completion of the sale, the chairman now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sandra Douglass Morgan sold 350 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 11,650 shares of the company's stock, valued at approximately $940,970.50. This represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ALGT has been the topic of a number of recent analyst reports. Susquehanna upped their price target on shares of Allegiant Travel from $60.00 to $105.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 7th. Bank of America raised their price objective on shares of Allegiant Travel from $54.00 to $95.00 and gave the stock an "underperform" rating in a research note on Friday, January 17th. The Goldman Sachs Group upped their target price on Allegiant Travel from $83.00 to $92.00 and gave the company a "neutral" rating in a research note on Tuesday, January 14th. Barclays boosted their target price on shares of Allegiant Travel from $85.00 to $100.00 and gave the company an "equal weight" rating in a research note on Thursday, January 16th. Finally, Wolfe Research lowered shares of Allegiant Travel from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 4th. One research 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 MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $79.60.

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.