Allegiant Travel Company $ALGT Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA cut its position in Allegiant Travel Company (NASDAQ:ALGT) by 18.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,750 shares of the transportation company’s stock after selling 7,300 shares during the quarter. Primecap Management Co. CA owned about 0.18% of Allegiant Travel worth $1,990,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Allegiant Travel by 4.1% during the third quarter. Vanguard Group Inc. now owns 1,677,608 shares of the transportation company’s stock valued at $101,948,000 after buying an additional 66,596 shares in the last quarter. Donald Smith & CO. Inc. lifted its stake in Allegiant Travel by 11.6% in the second quarter. Donald Smith & CO. Inc. now owns 1,506,633 shares of the transportation company’s stock valued at $82,789,000 after acquiring an additional 156,186 shares during the last quarter. American Century Companies Inc. grew its position in Allegiant Travel by 2.8% in the second quarter. American Century Companies Inc. now owns 651,117 shares of the transportation company’s stock worth $35,779,000 after acquiring an additional 17,509 shares in the last quarter. Par Capital Management Inc. increased its stake in shares of Allegiant Travel by 11.1% during the 2nd quarter. Par Capital Management Inc. now owns 584,996 shares of the transportation company’s stock worth $32,146,000 after purchasing an additional 58,566 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Allegiant Travel by 1.0% during the 2nd quarter. Franklin Resources Inc. now owns 475,927 shares of the transportation company’s stock worth $26,152,000 after purchasing an additional 4,595 shares during the last quarter. 85.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 861 shares of the business’s stock in a transaction 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 sale, the chairman owned 150,000 shares of the company’s stock, valued at $17,100,000. The trade was a 0.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 300,000 shares of company stock worth $34,350,512 in the last 90 days. 14.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ALGT. Barclays lifted their price objective on shares of Allegiant Travel from $60.00 to $95.00 and gave the company an “equal weight” rating in a research note on Monday, January 12th. Evercore boosted their price target on Allegiant Travel from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Morgan Stanley upped their price target on Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Raymond James Financial downgraded 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. Finally, Deutsche Bank Aktiengesellschaft upgraded Allegiant Travel from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a report on Friday, December 12th. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $100.18.

Allegiant Travel Trading Down 4.1%

Shares of ALGT opened at $102.15 on Friday. The stock’s 50-day moving average price is $95.34 and its 200 day moving average price is $76.62. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of -39.75, a P/E/G ratio of 0.25 and a beta of 1.64. Allegiant Travel Company has a 12-month low of $39.80 and a 12-month high of $118.00.

Allegiant Travel Company 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.