Heartland Advisors Inc. Takes Position in Allegiant Travel Company $ALGT

Heartland Advisors Inc. acquired a new stake in Allegiant Travel Company (NASDAQ:ALGT) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 209,765 shares of the transportation company’s stock, valued at approximately $12,747,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Allegiant Travel by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,202 shares of the transportation company’s stock valued at $475,000 after purchasing an additional 394 shares in the last quarter. CWM LLC lifted its holdings in Allegiant Travel by 129.2% during the second quarter. CWM LLC now owns 5,865 shares of the transportation company’s stock worth $322,000 after buying an additional 3,306 shares during the period. Drive Wealth Management LLC bought a new stake in Allegiant Travel during the 2nd quarter valued at $433,000. Envestnet Asset Management Inc. purchased a new position in shares of Allegiant Travel in the 2nd quarter valued at $205,000. Finally, Y Intercept Hong Kong Ltd lifted its stake in shares of Allegiant Travel by 762.7% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 35,577 shares of the transportation company’s stock worth $1,955,000 after purchasing an additional 31,453 shares during the last quarter. 85.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Allegiant Travel news, Chairman Maurice J. Gallagher, Jr. sold 861 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $114.00, for a total value of $98,154.00. Following the completion of the transaction, the chairman directly owned 150,000 shares of the company’s stock, valued at approximately $17,100,000. The trade was a 0.57% 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. Insiders sold 300,000 shares of company stock worth $34,350,512 over the last quarter. 14.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ALGT. UBS Group boosted their target price on shares of Allegiant Travel from $90.00 to $102.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Bank of America upgraded shares of Allegiant Travel from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $55.00 to $95.00 in a research note on Tuesday, January 6th. Wolfe Research raised shares of Allegiant Travel from a “peer perform” rating to an “outperform” rating and set a $108.00 target price for the company in a research report on Tuesday, January 20th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Allegiant Travel in a report on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded Allegiant Travel from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a report on Friday, December 12th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Allegiant Travel has a consensus rating of “Hold” and an average price target of $100.18.

Allegiant Travel Price Performance

NASDAQ:ALGT opened at $111.30 on Tuesday. The firm’s fifty day moving average is $91.59 and its two-hundred day moving average is $73.40. 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 company has a debt-to-equity ratio of 1.76, a quick ratio of 0.95 and a current ratio of 0.98. Allegiant Travel Company has a one year low of $39.80 and a one year high of $118.00.

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.