Inspire Investing LLC Trims Stock Holdings in Allegiant Travel (NASDAQ:ALGT)

Inspire Investing LLC lessened its position in shares of Allegiant Travel (NASDAQ:ALGT) by 42.9% during the 4th quarter, Holdings Channel reports. The firm owned 4,279 shares of the transportation company’s stock after selling 3,211 shares during the quarter. Inspire Investing LLC’s holdings in Allegiant Travel were worth $403,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Signaturefd LLC boosted its holdings in shares of Allegiant Travel by 149.2% in the 3rd 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. Nisa Investment Advisors LLC boosted its holdings in Allegiant Travel by 136.9% in the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 304 shares during the last quarter. GAMMA Investing LLC grew its position 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 purchasing an additional 236 shares during the period. NBC Securities Inc. raised 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 valued at $69,000 after buying an additional 1,216 shares during the last quarter. Finally, Stifel Financial Corp purchased a new position in shares of Allegiant Travel during the 3rd quarter valued at about $210,000. 85.81% of the stock is owned by institutional investors and hedge funds.

Allegiant Travel Stock Performance

NASDAQ:ALGT opened at $102.73 on Friday. Allegiant Travel has a twelve month low of $36.08 and a twelve month high of $106.87. The company has a market cap of $1.88 billion, a P/E ratio of -68.49, a P/E/G ratio of 1.35 and a beta of 1.62. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The company’s 50-day moving average price is $89.21 and its 200-day moving average price is $64.89.

Insider Transactions at Allegiant Travel

In related news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of Allegiant Travel 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 transaction, the chairman now owns 2,147,730 shares in the company, valued at $181,397,275.80. The trade was a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sandra Douglass Morgan sold 350 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total transaction of $28,269.50. Following the transaction, the director now owns 11,650 shares of the company’s stock, valued at approximately $940,970.50. The trade was a 2.92 % decrease in their position. The disclosure for this sale can be found here. Insiders own 15.80% of the company’s stock.

Wall Street Analyst Weigh In

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 stock an “outperform” rating in a report on Monday, December 30th. Morgan Stanley upped their price objective on shares of Allegiant Travel from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 11th. StockNews.com upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. UBS Group assumed coverage on Allegiant Travel in a report on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 price target for the company. Finally, Barclays lifted their price target on shares of Allegiant Travel from $85.00 to $100.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Allegiant Travel currently has a consensus rating of “Hold” and an average target price of $79.60.

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.