International Assets Investment Management LLC Acquires Shares of 115,404 Allegiant Travel (NASDAQ:ALGT)

International Assets Investment Management LLC bought a new stake in Allegiant Travel (NASDAQ:ALGT - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 115,404 shares of the transportation company's stock, valued at approximately $63,540,000. International Assets Investment Management LLC owned approximately 0.63% of Allegiant Travel as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. ProShare Advisors LLC increased its position in shares of Allegiant Travel by 6.9% during the first quarter. ProShare Advisors LLC now owns 3,155 shares of the transportation company's stock valued at $237,000 after acquiring an additional 203 shares during the last quarter. Signaturefd LLC increased its position in shares of Allegiant Travel by 149.2% during the third quarter. Signaturefd LLC now owns 456 shares of the transportation company's stock valued at $25,000 after acquiring an additional 273 shares during the last quarter. Privium Fund Management UK Ltd increased its position in shares of Allegiant Travel by 4.5% during the second quarter. Privium Fund Management UK Ltd now owns 10,191 shares of the transportation company's stock valued at $504,000 after acquiring an additional 438 shares during the last quarter. SeaCrest Wealth Management LLC increased its position in shares of Allegiant Travel by 8.1% during the third quarter. SeaCrest Wealth Management LLC now owns 6,010 shares of the transportation company's stock valued at $331,000 after acquiring an additional 450 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in shares of Allegiant Travel by 7.9% during the second quarter. Harbor Capital Advisors Inc. now owns 7,591 shares of the transportation company's stock valued at $381,000 after acquiring an additional 553 shares during the last quarter. 85.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ALGT. Morgan Stanley decreased their price target on Allegiant Travel from $95.00 to $87.00 and set an "equal weight" rating for the company in a research report on Monday, July 8th. Susquehanna raised their target price on Allegiant Travel from $40.00 to $55.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. Evercore ISI raised their target price on Allegiant Travel from $60.00 to $65.00 and gave the stock an "in-line" rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft downgraded Allegiant Travel from a "buy" rating to a "hold" rating and decreased their target price for the stock from $75.00 to $53.00 in a research report on Monday, July 8th. Finally, Barclays decreased their target price on Allegiant Travel from $55.00 to $45.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $63.13.

Insider Transactions at Allegiant Travel

In related news, Director Gary Ellmer sold 1,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the sale, the director now directly owns 7,490 shares in the company, valued at $337,050. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Keny Frank Wilper sold 635 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total transaction 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 represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gary Ellmer sold 1,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the sale, the director now owns 7,490 shares of the company's stock, valued at $337,050. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,334 shares of company stock worth $117,158. 17.50% of the stock is currently owned by corporate insiders.

Allegiant Travel Stock Performance

Shares of NASDAQ ALGT traded down $1.46 during mid-day trading on Friday, hitting $62.28. The company had a trading volume of 272,897 shares, compared to its average volume of 361,068. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 19.71, a P/E/G ratio of 3.11 and a beta of 1.65. Allegiant Travel has a 1 year low of $36.08 and a 1 year high of $85.91. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.30. The stock's 50-day moving average price is $49.55 and its 200-day moving average price is $50.77.

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

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.