Allegiant Travel Company $ALGT is Mountain Lake Investment Management LLC’s 8th Largest Position

Mountain Lake Investment Management LLC trimmed its position in Allegiant Travel Company (NASDAQ:ALGT) by 7.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 136,702 shares of the transportation company’s stock after selling 11,000 shares during the period. Allegiant Travel makes up approximately 6.2% of Mountain Lake Investment Management LLC’s holdings, making the stock its 8th biggest holding. Mountain Lake Investment Management LLC owned 0.75% of Allegiant Travel worth $8,307,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ALGT. Hantz Financial Services Inc. boosted its position in shares of Allegiant Travel by 442.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 542 shares of the transportation company’s stock worth $33,000 after purchasing an additional 442 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in Allegiant Travel by 28.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 930 shares of the transportation company’s stock valued at $51,000 after buying an additional 205 shares in the last quarter. NewEdge Advisors LLC increased its position in Allegiant Travel by 43.7% during the 2nd quarter. NewEdge Advisors LLC now owns 1,227 shares of the transportation company’s stock valued at $67,000 after buying an additional 373 shares in the last quarter. AlphaQuest LLC raised its stake in Allegiant Travel by 119.2% in the third quarter. AlphaQuest LLC now owns 1,120 shares of the transportation company’s stock valued at $68,000 after buying an additional 609 shares during the last quarter. Finally, iSAM Funds UK Ltd purchased a new stake in Allegiant Travel in the third quarter valued at about $69,000. 85.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Zacks Research upgraded Allegiant Travel from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Allegiant Travel in a research report on Wednesday, January 21st. Citigroup lifted their target price on shares of Allegiant Travel from $109.00 to $114.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. UBS Group cut their price target on shares of Allegiant Travel from $102.00 to $90.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Morgan Stanley raised their price target on shares of Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $99.09.

Allegiant Travel Stock Down 0.5%

Shares of ALGT stock opened at $74.66 on Tuesday. Allegiant Travel Company has a fifty-two week low of $39.80 and a fifty-two week high of $118.00. The firm has a market capitalization of $1.38 billion, a PE ratio of -29.05, a P/E/G ratio of 0.17 and a beta of 1.55. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.92 and a current ratio of 0.95. The stock’s 50-day simple moving average is $94.93 and its 200-day simple moving average is $78.78.

Insider Buying and Selling

In related news, Chairman Maurice J. Gallagher, Jr. sold 861 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $114.00, for a total value of $98,154.00. Following the transaction, the chairman owned 150,000 shares in the company, valued at approximately $17,100,000. This represents a 0.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 300,000 shares of company stock valued at $34,350,512 in the last 90 days. 14.70% of the stock is owned by corporate 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.