Allegiant Travel (NASDAQ:ALGT) Position Cut by Mountain Lake Investment Management LLC

Mountain Lake Investment Management LLC cut its holdings in Allegiant Travel (NASDAQ:ALGT) by 31.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 108,000 shares of the transportation company’s stock after selling 49,000 shares during the quarter. Allegiant Travel comprises 11.7% of Mountain Lake Investment Management LLC’s investment portfolio, making the stock its 2nd biggest holding. Mountain Lake Investment Management LLC’s holdings in Allegiant Travel were worth $10,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Donald Smith & CO. Inc. raised its holdings in shares of Allegiant Travel by 20.2% in the third quarter. Donald Smith & CO. Inc. now owns 993,474 shares of the transportation company’s stock worth $54,701,000 after acquiring an additional 167,148 shares during the last quarter. U S Global Investors Inc. raised its holdings in shares of Allegiant Travel by 51.9% in the third quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock worth $40,823,000 after acquiring an additional 253,198 shares during the last quarter. State Street Corp raised its holdings in shares of Allegiant Travel by 1.7% in the third quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock worth $33,530,000 after acquiring an additional 10,050 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Allegiant Travel by 2.5% in the third quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock worth $34,584,000 after acquiring an additional 14,852 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Allegiant Travel by 1.5% in the third quarter. Geode Capital Management LLC now owns 364,755 shares of the transportation company’s stock worth $20,089,000 after acquiring an additional 5,424 shares during the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. TD Cowen boosted their price target on Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, December 17th. The Goldman Sachs Group boosted their price target on Allegiant Travel from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. 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 target on the stock. Wolfe Research cut Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Finally, StockNews.com upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Allegiant Travel currently has a consensus rating of “Hold” and a consensus price target of $80.10.

Allegiant Travel Price Performance

Shares of NASDAQ:ALGT opened at $83.26 on Friday. Allegiant Travel has a fifty-two week low of $36.08 and a fifty-two week high of $107.57. The business has a 50-day moving average of $93.55 and a two-hundred day moving average of $69.41. The stock has a market capitalization of $1.53 billion, a P/E ratio of -6.23, a P/E/G ratio of 1.03 and a beta of 1.63. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $1.62. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. On average, equities research analysts predict that Allegiant Travel will post 7.15 EPS for the current fiscal year.

Insider Activity at Allegiant Travel

In other news, Director Sandra Douglass Morgan sold 350 shares of the company’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 value of $28,269.50. Following the sale, the director now directly owns 11,650 shares in the company, valued at approximately $940,970.50. This represents a 2.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the company’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 value of $2,391,822.74. Following the completion of the sale, the chairman now owns 2,147,730 shares in the company, valued at approximately $181,397,275.80. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 15.80% of the company’s stock.

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.