U S Global Investors Inc. Decreases Position in Allegiant Travel Company $ALGT

U S Global Investors Inc. decreased its position in shares of Allegiant Travel Company (NASDAQ:ALGT) by 11.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 380,678 shares of the transportation company’s stock after selling 49,475 shares during the period. Allegiant Travel comprises 2.6% of U S Global Investors Inc.’s portfolio, making the stock its 6th biggest position. U S Global Investors Inc. owned about 2.07% of Allegiant Travel worth $23,134,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Federated Hermes Inc. raised its position in Allegiant Travel by 12.9% in the 2nd quarter. Federated Hermes Inc. now owns 215,531 shares of the transportation company’s stock valued at $11,843,000 after purchasing an additional 24,557 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of Allegiant Travel in the second quarter valued at $205,000. Jump Financial LLC increased its stake in shares of Allegiant Travel by 195.5% in the second quarter. Jump Financial LLC now owns 127,800 shares of the transportation company’s stock valued at $7,023,000 after buying an additional 84,555 shares in the last quarter. Bayforest Capital Ltd raised its holdings in shares of Allegiant Travel by 38.7% in the second quarter. Bayforest Capital Ltd now owns 15,714 shares of the transportation company’s stock valued at $863,000 after buying an additional 4,381 shares during the last quarter. Finally, Apollo Management Holdings L.P. acquired a new position in Allegiant Travel during the 2nd quarter worth about $6,124,000. 85.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Citigroup started coverage on Allegiant Travel in a report on Thursday, December 4th. They set a “neutral” rating and a $88.00 price objective on the stock. Barclays boosted their price target on shares of Allegiant Travel from $52.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 1st. Weiss Ratings restated a “sell (d)” rating on shares of Allegiant Travel in a report on Wednesday, October 8th. UBS Group reaffirmed a “neutral” rating and set a $87.00 target price (up previously from $66.00) on shares of Allegiant Travel in a report on Friday, December 12th. Finally, Raymond James Financial downgraded Allegiant Travel from a “strong-buy” rating to an “outperform” rating and increased their price target for the company from $78.00 to $98.00 in a research note on Friday, December 19th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $79.55.

Allegiant Travel Stock Up 3.2%

Allegiant Travel stock opened at $88.01 on Friday. Allegiant Travel Company has a fifty-two week low of $39.80 and a fifty-two week high of $107.57. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.98 and a quick ratio of 0.95. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -5.40, a PEG ratio of 0.26 and a beta of 1.64. The company’s 50 day simple moving average is $75.33 and its 200 day simple moving average is $64.20.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Thursday, May 12th. The transportation company reported $1.18 earnings per share for the quarter. Allegiant Travel had a negative net margin of 11.36% and a positive return on equity of 5.24%. The company had revenue of $496.88 million for the quarter. As a group, sell-side analysts anticipate that Allegiant Travel Company will post 7.7 EPS for the current year.

About Allegiant Travel

Allegiant Travel Company is a holding company that operates Allegiant Air, a low‐cost leisure airline offering scheduled and charter air service. The company focuses on connecting underserved secondary markets with popular vacation destinations across the United States. By targeting price‐sensitive leisure travelers, Allegiant Air operates a point‐to‐point network that avoids the traditional hub‐and‐spoke model, providing non‐stop flights from smaller cities to resort and entertainment hubs.

In addition to its core flight operations, Allegiant Travel Company offers packaged travel services that include hotel accommodations, rental cars and attraction tickets through its online portal.