U S Global Investors Inc. Sells 350,851 Shares of Allegiant Travel (NASDAQ:ALGT)

U S Global Investors Inc. decreased its holdings in shares of Allegiant Travel (NASDAQ:ALGT) by 47.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 390,578 shares of the transportation company’s stock after selling 350,851 shares during the quarter. Allegiant Travel accounts for approximately 3.6% of U S Global Investors Inc.’s investment portfolio, making the stock its 7th largest position. U S Global Investors Inc.’s holdings in Allegiant Travel were worth $36,761,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Signaturefd LLC increased its position in Allegiant Travel by 149.2% during the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock worth $25,000 after purchasing an additional 273 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Allegiant Travel by 136.9% during the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock worth $29,000 after buying an additional 304 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Allegiant Travel by 34.3% during the third quarter. Harbor Capital Advisors Inc. now owns 10,198 shares of the transportation company’s stock worth $562,000 after buying an additional 2,607 shares in the last quarter. Privium Fund Management UK Ltd lifted its stake in shares of Allegiant Travel by 3.5% in the 3rd quarter. Privium Fund Management UK Ltd now owns 10,549 shares of the transportation company’s stock valued at $581,000 after acquiring an additional 358 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of Allegiant Travel by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 80,695 shares of the transportation company’s stock valued at $4,443,000 after acquiring an additional 4,020 shares in the last quarter. Institutional investors own 85.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ALGT. Barclays upped their target price on Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. UBS Group initiated coverage on Allegiant Travel in a research note on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 price objective for the company. StockNews.com upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. TD Cowen upped their price target on shares of Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, December 17th. Finally, Bank of America lifted their price target on shares of Allegiant Travel from $54.00 to $95.00 and gave the stock an “underperform” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $80.10.

Allegiant Travel Stock Performance

Shares of Allegiant Travel stock opened at $74.62 on Friday. The business has a 50-day moving average price of $93.09 and a two-hundred day moving average price of $71.56. Allegiant Travel has a 1-year low of $36.08 and a 1-year high of $107.57. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The company has a market cap of $1.37 billion, a P/E ratio of -5.58 and a beta of 1.63.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $1.62. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. As a group, analysts anticipate that Allegiant Travel will post 7.7 EPS for the current year.

Allegiant Travel Company 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.