U S Global Investors Inc. Buys 253,198 Shares of Allegiant Travel (NASDAQ:ALGT)

U S Global Investors Inc. lifted its holdings in shares of Allegiant Travel (NASDAQ:ALGT - Free Report) by 51.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 741,429 shares of the transportation company's stock after buying an additional 253,198 shares during the period. Allegiant Travel makes up approximately 3.9% of U S Global Investors Inc.'s holdings, making the stock its 5th largest position. U S Global Investors Inc. owned approximately 4.07% of Allegiant Travel worth $40,823,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Innealta Capital LLC acquired a new stake in shares of Allegiant Travel during the second quarter worth about $34,000. NBC Securities Inc. raised its holdings in Allegiant Travel by 2,827.9% during the third 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 in the last quarter. CWM LLC raised its holdings in Allegiant Travel by 275.1% during the second quarter. CWM LLC now owns 1,268 shares of the transportation company's stock worth $64,000 after purchasing an additional 930 shares in the last quarter. SG Americas Securities LLC purchased a new position in Allegiant Travel during the first quarter worth about $141,000. Finally, Headlands Technologies LLC raised its holdings in Allegiant Travel by 170.6% during the second quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company's stock worth $127,000 after purchasing an additional 1,590 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company's stock.

Insider Transactions at Allegiant Travel

In related news, Director Gary Ellmer sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $45.00, for a total transaction of $45,000.00. Following the sale, the director now owns 7,490 shares in the company, valued at approximately $337,050. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 1,699 shares of company stock valued at $77,350 in the last ninety days. Corporate insiders own 17.50% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on ALGT shares. Barclays cut their price target on shares of Allegiant Travel from $55.00 to $45.00 and set an "equal weight" rating for the company in a report on Wednesday, July 10th. TD Cowen increased their price target on shares of Allegiant Travel from $33.00 to $42.00 and gave the stock a "hold" rating in a report on Thursday, October 3rd. Evercore ISI increased their price target on shares of Allegiant Travel from $60.00 to $65.00 and gave the stock an "in-line" rating in a report on Thursday, October 3rd. Morgan Stanley dropped their target price on shares of Allegiant Travel from $95.00 to $87.00 and set an "equal weight" rating for the company in a report on Monday, July 8th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Allegiant Travel from a "buy" rating to a "hold" rating and dropped their target price for the company from $75.00 to $53.00 in a report on Monday, July 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Allegiant Travel currently has an average rating of "Hold" and a consensus price target of $63.13.

Allegiant Travel Price Performance

Shares of ALGT traded down $0.51 during mid-day trading on Tuesday, reaching $62.87. 333,412 shares of the company's stock were exchanged, compared to its average volume of 362,189. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 1.30. The company has a 50-day simple moving average of $47.57 and a two-hundred day simple moving average of $50.82. Allegiant Travel has a 52-week low of $36.08 and a 52-week high of $85.91. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 3.11 and a beta of 1.65.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The transportation company reported $1.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.93. Allegiant Travel had a negative net margin of 0.57% and a positive return on equity of 3.48%. The business had revenue of $666.28 million during the quarter, compared to analysts' expectations of $657.74 million. During the same period last year, the company posted $4.35 EPS. The company's revenue was down 2.6% on a year-over-year basis. On average, sell-side analysts predict that Allegiant Travel will post 1.47 EPS for the current fiscal year.

About Allegiant Travel

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.