Advisors Asset Management Inc. Purchases New Stake in Allegiant Travel Company $ALGT

Advisors Asset Management Inc. purchased a new stake in shares of Allegiant Travel Company (NASDAQ:ALGT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 17,727 shares of the transportation company’s stock, valued at approximately $1,077,000.

Several other large investors also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Allegiant Travel by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,202 shares of the transportation company’s stock valued at $475,000 after acquiring an additional 394 shares during the period. CWM LLC increased its holdings in Allegiant Travel by 129.2% in the 2nd quarter. CWM LLC now owns 5,865 shares of the transportation company’s stock valued at $322,000 after purchasing an additional 3,306 shares in the last quarter. Drive Wealth Management LLC acquired a new stake in Allegiant Travel in the 2nd quarter valued at $433,000. Envestnet Asset Management Inc. purchased a new position in Allegiant Travel in the second quarter valued at about $205,000. Finally, Y Intercept Hong Kong Ltd lifted its stake in shares of Allegiant Travel by 762.7% during the second quarter. Y Intercept Hong Kong Ltd now owns 35,577 shares of the transportation company’s stock worth $1,955,000 after purchasing an additional 31,453 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

Allegiant Travel Stock Up 2.5%

Shares of NASDAQ:ALGT opened at $114.04 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.95 and a debt-to-equity ratio of 1.76. The company has a fifty day simple moving average of $92.22 and a 200 day simple moving average of $73.86. The firm has a market cap of $2.09 billion, a PE ratio of -44.37, a price-to-earnings-growth ratio of 0.26 and a beta of 1.64. Allegiant Travel Company has a 12-month low of $39.80 and a 12-month high of $118.00.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Susquehanna reiterated a “positive” rating and issued a $110.00 target price on shares of Allegiant Travel in a research note on Friday, February 6th. Citigroup upped their price target on Allegiant Travel from $109.00 to $114.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Bank of America raised shares of Allegiant Travel from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $55.00 to $95.00 in a research report on Tuesday, January 6th. Zacks Research cut shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Finally, Morgan Stanley upped their target price 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, February 5th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Allegiant Travel presently has an average rating of “Hold” and a consensus price target of $100.18.

Insiders Place Their Bets

In other news, Chairman Maurice J. Gallagher, Jr. sold 175,000 shares of the business’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $114.23, for a total value of $19,990,250.00. Following the completion of the sale, the chairman owned 1,962,348 shares of the company’s stock, valued at approximately $224,159,012.04. The trade was a 8.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 300,000 shares of company stock worth $34,350,512. 14.70% of the stock is owned by company insiders.

Allegiant Travel Profile

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.