The Manufacturers Life Insurance Company Has $308,000 Position in Allegiant Travel (NASDAQ:ALGT)

The Manufacturers Life Insurance Company lowered its holdings in shares of Allegiant Travel (NASDAQ:ALGT) by 28.6% during the third quarter, Holdings Channel reports. The institutional investor owned 5,586 shares of the transportation company’s stock after selling 2,241 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Allegiant Travel were worth $308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Signaturefd LLC boosted its stake in shares of Allegiant Travel by 149.2% in the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 273 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Allegiant Travel by 136.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 304 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Allegiant Travel in the 2nd quarter valued at $34,000. CWM LLC boosted its stake in shares of Allegiant Travel by 275.1% in the 2nd quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 930 shares in the last quarter. Finally, NBC Securities Inc. boosted its stake 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 valued at $69,000 after purchasing an additional 1,216 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $84.46, for a total value of $2,391,822.74. Following the sale, the chairman now directly owns 2,147,730 shares of the company’s stock, valued at $181,397,275.80. This trade represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Keny Frank Wilper sold 635 shares of Allegiant Travel stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total value of $39,808.15. Following the sale, the chief operating officer now directly owns 16,353 shares in the company, valued at $1,025,169.57. The trade was a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,600 shares of company stock worth $2,476,465. Company insiders own 15.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Barclays boosted their target price on shares of Allegiant Travel from $50.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Susquehanna upped their price target on shares of Allegiant Travel from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. UBS Group started coverage on shares of Allegiant Travel in a research report on Tuesday, November 26th. They set a “neutral” rating and a $16.00 price target on the stock. Morgan Stanley upped their price target on shares of Allegiant Travel from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 11th. Finally, Wolfe Research downgraded shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $65.78.

Allegiant Travel Stock Down 2.8 %

ALGT stock opened at $84.90 on Monday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of -56.60, a PEG ratio of 7.17 and a beta of 1.67. The business’s fifty day moving average price is $71.21 and its two-hundred day moving average price is $55.75. Allegiant Travel has a fifty-two week low of $36.08 and a fifty-two week high of $94.45.

About Allegiant Travel

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.