Heartland Advisors Inc. Makes New Investment in Allegiant Travel Company $ALGT

Heartland Advisors Inc. purchased a new position in Allegiant Travel Company (NASDAQ:ALGT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 209,765 shares of the transportation company’s stock, valued at approximately $12,747,000. Heartland Advisors Inc. owned 1.14% of Allegiant Travel at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hantz Financial Services Inc. lifted its stake in shares of Allegiant Travel by 442.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 542 shares of the transportation company’s stock valued at $33,000 after buying an additional 442 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Allegiant Travel by 28.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 930 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 205 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Allegiant Travel by 43.7% in the second quarter. NewEdge Advisors LLC now owns 1,227 shares of the transportation company’s stock worth $67,000 after acquiring an additional 373 shares during the period. AlphaQuest LLC grew its position in shares of Allegiant Travel by 119.2% during the third quarter. AlphaQuest LLC now owns 1,120 shares of the transportation company’s stock worth $68,000 after purchasing an additional 609 shares in the last quarter. Finally, State of Wyoming bought a new stake in Allegiant Travel during the 2nd quarter valued at approximately $159,000. 85.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Chairman Maurice J. Gallagher, Jr. sold 175,000 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $114.23, for a total transaction of $19,990,250.00. Following the transaction, the chairman directly owned 1,962,348 shares of the company’s stock, valued at approximately $224,159,012.04. This trade represents a 8.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 300,000 shares of company stock valued at $34,350,512. 14.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ALGT shares. Barclays increased their price target on shares of Allegiant Travel from $60.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday, January 12th. Raymond James Financial lowered Allegiant Travel from a “strong-buy” rating to an “outperform” rating and raised their price objective for the company from $78.00 to $98.00 in a research note on Friday, December 19th. Susquehanna reiterated a “positive” rating and issued a $110.00 target price on shares of Allegiant Travel in a report on Friday, February 6th. Morgan Stanley increased their price target on Allegiant Travel from $85.00 to $100.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Allegiant Travel in a research report on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $100.18.

Allegiant Travel Stock Performance

ALGT stock opened at $111.30 on Tuesday. Allegiant Travel Company has a twelve month low of $39.80 and a twelve month high of $118.00. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of -43.31, a PEG ratio of 0.26 and a beta of 1.64. The business’s fifty day simple moving average is $91.59 and its two-hundred day simple moving average is $73.40. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 1.76.

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.