Allegiant Travel (NASDAQ:ALGT) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its position in shares of Allegiant Travel (NASDAQ:ALGT) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,496 shares of the transportation company’s stock after selling 400 shares during the quarter. New York State Teachers Retirement System’s holdings in Allegiant Travel were worth $1,647,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALGT. Empowered Funds LLC grew its stake in shares of Allegiant Travel by 5.0% in the fourth quarter. Empowered Funds LLC now owns 84,748 shares of the transportation company’s stock valued at $7,976,000 after buying an additional 4,053 shares in the last quarter. Crews Bank & Trust acquired a new stake in Allegiant Travel during the 4th quarter valued at approximately $25,000. Nisa Investment Advisors LLC grew 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 valued at $849,000 after purchasing an additional 8,491 shares in the last quarter. SeaCrest Wealth Management LLC grew 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 valued at $584,000 after purchasing an additional 200 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings 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 last quarter. 85.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the company. Raymond James raised their target price on Allegiant Travel from $75.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, December 30th. Morgan Stanley raised their target price on Allegiant Travel from $90.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. UBS Group assumed coverage on Allegiant Travel in a research report on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 target price on the stock. StockNews.com upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. Finally, Barclays raised their target price on Allegiant Travel from $85.00 to $100.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. One equities research 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. Based on data from MarketBeat.com, Allegiant Travel presently has an average rating of “Hold” and a consensus price target of $80.10.

Allegiant Travel Trading Down 5.0 %

Allegiant Travel stock opened at $81.64 on Friday. Allegiant Travel has a one year low of $36.08 and a one year high of $107.57. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -6.11 and a beta of 1.63. The firm has a 50-day moving average of $93.51 and a 200-day moving average of $70.73. 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 issued its earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities analysts expect that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Insider Activity at Allegiant Travel

In other Allegiant Travel news, Director Sandra Douglass Morgan sold 350 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total value of $28,269.50. Following the transaction, the director now directly owns 11,650 shares of the company’s stock, valued at $940,970.50. This represents a 2.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $84.46, for a total transaction of $2,391,822.74. Following the completion of the transaction, the chairman now directly 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. 15.80% of the stock is currently owned by company insiders.

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.