U S Global Investors Inc. Buys 253,198 Shares of Allegiant Travel (NASDAQ:ALGT)

U S Global Investors Inc. raised its position in shares of Allegiant Travel (NASDAQ:ALGT) by 51.9% in the third quarter, Holdings Channel.com reports. The fund owned 741,429 shares of the transportation company’s stock after buying an additional 253,198 shares during the quarter. Allegiant Travel comprises approximately 3.9% of U S Global Investors Inc.’s holdings, making the stock its 5th largest position. U S Global Investors Inc.’s holdings in Allegiant Travel were worth $40,823,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in shares of Allegiant Travel during the second quarter valued at about $34,000. CWM LLC raised its position in shares of Allegiant Travel by 275.1% during the 2nd quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock valued at $64,000 after acquiring an additional 930 shares in the last quarter. NBC Securities Inc. lifted its position in shares of Allegiant Travel by 2,827.9% in the 3rd quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock worth $69,000 after buying an additional 1,216 shares during the last quarter. Headlands Technologies LLC lifted its holdings in Allegiant Travel by 170.6% in the second quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock worth $127,000 after acquiring an additional 1,590 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Allegiant Travel during the 1st quarter valued at approximately $141,000. Institutional investors and hedge funds own 85.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ALGT shares. Evercore ISI boosted their target price on shares of Allegiant Travel from $60.00 to $65.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. Susquehanna raised their target price on Allegiant Travel from $40.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft lowered shares of Allegiant Travel from a “buy” rating to a “hold” rating and decreased their price target for the stock from $75.00 to $53.00 in a research report on Monday, July 8th. Morgan Stanley cut their price objective on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. Finally, Barclays reduced their target price on Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $63.13.

Allegiant Travel Stock Down 0.6 %

NASDAQ ALGT traded down $0.41 during trading on Tuesday, reaching $62.97. The company’s stock had a trading volume of 13,835 shares, compared to its average volume of 360,621. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $1.15 billion, a PE ratio of 20.06, a PEG ratio of 3.11 and a beta of 1.65. Allegiant Travel has a 1-year low of $36.08 and a 1-year high of $85.91. The business has a 50-day moving average price of $47.03 and a 200-day moving average price of $50.83.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Wednesday, July 31st. The transportation company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.93. Allegiant Travel had a positive return on equity of 3.48% and a negative net margin of 0.57%. The company had revenue of $666.28 million during the quarter, compared to the consensus estimate of $657.74 million. During the same quarter in the prior year, the company posted $4.35 EPS. The firm’s revenue was down 2.6% on a year-over-year basis. On average, research analysts forecast that Allegiant Travel will post 1.47 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Gary Ellmer sold 1,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the sale, the director now directly owns 7,490 shares of the company’s stock, valued at approximately $337,050. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 1,699 shares of company stock valued at $77,350 over the last 90 days. 17.50% of the stock is currently owned by company insiders.

Allegiant Travel Profile

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 1, 2024, it operated a fleet of 126 Airbus A320 series aircraft.