Allegiant Travel (NASDAQ:ALGT) Position Lowered by RK Asset Management LLC

RK Asset Management LLC lowered its stake in shares of Allegiant Travel (NASDAQ:ALGT) by 5.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 90,759 shares of the transportation company’s stock after selling 5,628 shares during the period. Allegiant Travel makes up approximately 7.0% of RK Asset Management LLC’s holdings, making the stock its 3rd biggest position. RK Asset Management LLC owned approximately 0.49% of Allegiant Travel worth $8,542,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ALGT. Signaturefd LLC grew its stake in shares of Allegiant Travel by 149.2% during the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 273 shares during the period. Nisa Investment Advisors LLC increased its holdings in Allegiant Travel by 136.9% during the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after buying an additional 304 shares during the last quarter. GAMMA Investing LLC raised its position in Allegiant Travel by 53.5% in the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after acquiring an additional 236 shares during the period. NBC Securities Inc. boosted its stake in shares of Allegiant Travel by 2,827.9% during the 3rd quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock worth $69,000 after acquiring an additional 1,216 shares during the last quarter. Finally, Headlands Technologies LLC grew its position in shares of Allegiant Travel by 170.6% during the 2nd quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock valued at $127,000 after acquiring an additional 1,590 shares during the period. 85.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $83.00 price target on shares of Allegiant Travel in a research report on Friday, November 15th. TD Cowen upped their target price on shares of Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, December 17th. Evercore ISI raised their price target on Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. StockNews.com lowered Allegiant Travel from a “hold” rating to a “sell” rating in a research note on Friday, December 27th. Finally, Susquehanna lifted their target price on Allegiant Travel from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Allegiant Travel currently has a consensus rating of “Hold” and an average price target of $69.11.

Insider Transactions at Allegiant Travel

In related news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Keny Frank Wilper sold 635 shares of Allegiant Travel stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total transaction of $39,808.15. Following the sale, the chief operating officer now owns 16,353 shares of the company’s stock, valued at approximately $1,025,169.57. The trade was a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,304 shares of company stock worth $2,459,900. Insiders own 15.80% of the company’s stock.

Allegiant Travel Stock Up 2.2 %

ALGT traded up $1.98 during trading on Friday, hitting $93.93. The stock had a trading volume of 258,205 shares, compared to its average volume of 263,102. The stock has a 50 day simple moving average of $79.06 and a two-hundred day simple moving average of $59.16. 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 twelve month low of $36.08 and a twelve month high of $96.93. The company has a market capitalization of $1.72 billion, a PE ratio of -62.62, a PEG ratio of 7.17 and a beta of 1.67.

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.