Allegiant Travel (NASDAQ:ALGT) Stock Position Raised by New York State Teachers Retirement System

New York State Teachers Retirement System lifted its holdings in Allegiant Travel (NASDAQ:ALGT – Get Rating) by 0.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,716 shares of the transportation company’s stock after buying an additional 100 shares during the period. New York State Teachers Retirement System owned about 0.12% of Allegiant Travel worth $3,526,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ALGT. Foundry Partners LLC acquired a new stake in shares of Allegiant Travel in the fourth quarter worth $329,000. James Investment Research Inc. acquired a new stake in shares of Allegiant Travel in the fourth quarter worth $617,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Allegiant Travel in the fourth quarter worth $1,183,000. Yousif Capital Management LLC acquired a new stake in shares of Allegiant Travel in the fourth quarter worth $2,526,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of Allegiant Travel by 89.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 22,905 shares of the transportation company’s stock worth $4,284,000 after buying an additional 10,823 shares during the period. Institutional investors and hedge funds own 98.49% of the company’s stock.

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Insider Transactions at Allegiant Travel

In other news, EVP Robert Paul Wilson III sold 900 shares of Allegiant Travel stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $150.14, for a total value of $135,126.00. Following the transaction, the executive vice president now directly owns 14,963 shares in the company, valued at $2,246,544.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CMO Scott Wayne Deangelo sold 500 shares of Allegiant Travel stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $112.89, for a total value of $56,445.00. Following the transaction, the chief marketing officer now directly owns 8,035 shares in the company, valued at $907,071.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Paul Wilson III sold 900 shares of Allegiant Travel stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $150.14, for a total value of $135,126.00. Following the sale, the executive vice president now directly owns 14,963 shares in the company, valued at $2,246,544.82. The disclosure for this sale can be found here. 16.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ALGT shares. Morgan Stanley cut their price objective on Allegiant Travel from $250.00 to $237.00 and set an “overweight” rating for the company in a report on Friday, July 8th. Susquehanna cut their price objective on Allegiant Travel from $185.00 to $140.00 and set a “positive” rating for the company in a report on Tuesday, July 12th. StockNews.com started coverage on Allegiant Travel in a report on Thursday, March 31st. They set a “hold” rating for the company. Evercore ISI cut their price objective on Allegiant Travel from $175.00 to $150.00 and set an “in-line” rating for the company in a report on Monday, June 27th. Finally, Susquehanna Bancshares cut their price objective on Allegiant Travel from $185.00 to $140.00 and set a “positive” rating for the company in a report on Tuesday, July 12th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.90.

Allegiant Travel Price Performance

NASDAQ ALGT opened at $115.67 on Monday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.59 and a quick ratio of 1.55. The stock’s 50-day moving average is $130.12 and its two-hundred day moving average is $153.27. The firm has a market cap of $2.10 billion, a P/E ratio of 14.79 and a beta of 1.55. Allegiant Travel has a fifty-two week low of $109.82 and a fifty-two week high of $215.48.

Allegiant Travel (NASDAQ:ALGT – Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The transportation company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.22). The business had revenue of $500.10 million during the quarter, compared to the consensus estimate of $495.33 million. Allegiant Travel had a return on equity of 7.66% and a net margin of 7.11%. The company’s revenue for the quarter was up 79.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($3.58) earnings per share. On average, analysts anticipate that Allegiant Travel will post 2.63 earnings per share for the current fiscal year.

Allegiant Travel Profile

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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, 2022, it operated a fleet of 110 Airbus A320 series aircraft.