May 17, 2024

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


New York State Teachers Retirement System trimmed its position in shares of Allegiant Travel (NASDAQ:ALGT) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,796 shares of the transportation company’s stock after selling 100 shares during the quarter. New York State Teachers Retirement System owned approximately 0.13% of Allegiant Travel worth $4,125,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in Allegiant Travel during the fourth quarter worth $38,000. Point72 Hong Kong Ltd boosted its position in Allegiant Travel by 538.9% during the third quarter. Point72 Hong Kong Ltd now owns 460 shares of the transportation company’s stock worth $55,000 after purchasing an additional 388 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in Allegiant Travel during the first quarter worth $155,000. LPL Financial LLC purchased a new stake in Allegiant Travel during the third quarter worth $200,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Allegiant Travel during the third quarter worth $279,000. Institutional investors own 86.10% of the company’s stock.

NASDAQ ALGT opened at $193.36 on Thursday. The business’s 50-day moving average price is $184.11 and its 200 day moving average price is $147.74. Allegiant Travel has a twelve month low of $60.06 and a twelve month high of $197.13. The company has a market capitalization of $3.17 billion, a PE ratio of -32.07 and a beta of 1.71. The company has a current ratio of 1.22, a quick ratio of 1.19 and a debt-to-equity ratio of 1.99.

Allegiant Travel (NASDAQ:ALGT) last released its earnings results on Wednesday, February 3rd. The transportation company reported ($1.12) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.40) by $1.28. Allegiant Travel had a negative return on equity of 8.83% and a negative net margin of 7.86%. The firm had revenue of $246.56 million for the quarter, compared to the consensus estimate of $245.48 million. During the same period in the prior year, the business posted $3.72 earnings per share. The firm’s revenue for the quarter was down 46.5% compared to the same quarter last year. Equities analysts predict that Allegiant Travel will post -10.54 EPS for the current year.

In other news, Director Linda A. Marvin sold 1,000 shares of the stock in a transaction dated Tuesday, November 24th. The stock was sold at an average price of $168.86, for a total value of $168,860.00. Also, CEO Maurice J. Gallagher, Jr. sold 34,786 shares of the stock in a transaction dated Wednesday, November 18th. The shares were sold at an average price of $160.37, for a total value of $5,578,630.82. Following the completion of the sale, the chief executive officer now owns 2,367,671 shares of the company’s stock, valued at approximately $379,703,398.27. The disclosure for this sale can be found here. Insiders have sold 86,818 shares of company stock worth $13,590,073 over the last quarter. 19.60% of the stock is currently owned by company insiders.

A number of analysts have commented on the company. Barclays upgraded Allegiant Travel from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $100.00 to $150.00 in a research report on Monday, October 12th. Morgan Stanley boosted their target price on Allegiant Travel from $175.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, December 14th. Cowen upgraded Allegiant Travel from a “market perform” rating to an “outperform” rating and set a $214.00 price objective on the stock in a research report on Monday, January 11th. Raymond James restated a “hold” rating on shares of Allegiant Travel in a research report on Tuesday, December 1st. Finally, Bank of America downgraded Allegiant Travel from a “buy” rating to a “neutral” rating in a research report on Friday, January 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $160.46.

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 14, 2020, it operated a fleet of 94 Airbus A320 series aircraft.

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Institutional Ownership by Quarter for Allegiant Travel (NASDAQ:ALGT)



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