Mountain Lake Investment Management LLC Reduces Stock Holdings in Allegiant Travel (NASDAQ:ALGT)

Mountain Lake Investment Management LLC lowered its stake in shares of Allegiant Travel (NASDAQ:ALGT - Free Report) by 31.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,000 shares of the transportation company's stock after selling 49,000 shares during the period. Allegiant Travel makes up approximately 11.7% of Mountain Lake Investment Management LLC's portfolio, making the stock its 2nd biggest holding. Mountain Lake Investment Management LLC owned approximately 0.59% of Allegiant Travel worth $10,150,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Empowered Funds LLC raised its stake in shares of Allegiant Travel by 5.0% in the 4th quarter. Empowered Funds LLC now owns 84,748 shares of the transportation company's stock valued at $7,976,000 after acquiring an additional 4,053 shares during the period. Crews Bank & Trust purchased a new stake in Allegiant Travel during the 4th quarter worth $25,000. Nisa Investment Advisors LLC increased its stake in Allegiant Travel by 1,614.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 9,017 shares of the transportation company's stock worth $849,000 after buying an additional 8,491 shares during the period. SeaCrest Wealth Management LLC increased its stake in Allegiant Travel by 3.3% during the 4th quarter. SeaCrest Wealth Management LLC now owns 6,210 shares of the transportation company's stock worth $584,000 after buying an additional 200 shares during the period. Finally, GAMMA Investing LLC increased its stake in Allegiant Travel by 53.5% during the 4th quarter. GAMMA Investing LLC now owns 677 shares of the transportation company's stock worth $64,000 after buying an additional 236 shares during the period. Hedge funds and other institutional investors own 85.81% of the company's stock.

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 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 sale, the director now directly owns 11,650 shares in the company, valued at approximately $940,970.50. The trade was a 2.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the business's 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 sale, the chairman now owns 2,147,730 shares in the company, valued at $181,397,275.80. This trade represents a 1.30 % 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 company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ALGT. Barclays lifted their price target on shares of Allegiant Travel from $85.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 16th. Wolfe Research downgraded shares of Allegiant Travel from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 4th. Susquehanna raised their price objective on shares of Allegiant Travel from $60.00 to $105.00 and gave the stock a "neutral" rating in a report on Tuesday, January 7th. Morgan Stanley raised their price objective on shares of Allegiant Travel from $90.00 to $95.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Finally, The Goldman Sachs Group raised their price objective on shares of Allegiant Travel from $83.00 to $92.00 and gave the stock a "neutral" rating in a report on Tuesday, January 14th. One equities 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. Based on data from MarketBeat, Allegiant Travel has a consensus rating of "Hold" and a consensus price target of $80.10.

Allegiant Travel Stock Performance

Shares of NASDAQ ALGT traded up $0.45 during midday trading on Thursday, hitting $86.17. The company's stock had a trading volume of 328,866 shares, compared to its average volume of 355,405. Allegiant Travel has a 1-year low of $36.08 and a 1-year high of $107.57. The firm's fifty day moving average price is $93.57 and its 200-day moving average price is $70.25. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The firm has a market cap of $1.58 billion, a P/E ratio of -6.44 and a beta of 1.63.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $1.62. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. On average, sell-side analysts forecast that Allegiant Travel will post 7.55 EPS for the current fiscal year.

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.