Mountain Lake Investment Management LLC Reduces Stock Position in Allegiant Travel (NASDAQ:ALGT)

Mountain Lake Investment Management LLC trimmed its position in shares of Allegiant Travel (NASDAQ:ALGT) by 31.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 108,000 shares of the transportation company’s stock after selling 49,000 shares during the period. Allegiant Travel makes up approximately 11.7% of Mountain Lake Investment Management LLC’s holdings, making the stock its 2nd largest holding. Mountain Lake Investment Management LLC owned approximately 0.59% of Allegiant Travel worth $10,150,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALGT. Donald Smith & CO. Inc. increased its position in shares of Allegiant Travel by 20.2% in the 3rd quarter. Donald Smith & CO. Inc. now owns 993,474 shares of the transportation company’s stock valued at $54,701,000 after buying an additional 167,148 shares in the last quarter. U S Global Investors Inc. lifted its stake in Allegiant Travel by 51.9% in the 3rd quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock valued at $40,823,000 after purchasing an additional 253,198 shares during the last quarter. State Street Corp lifted its stake in Allegiant Travel by 1.7% in the 3rd quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock valued at $33,530,000 after purchasing an additional 10,050 shares during the last quarter. Franklin Resources Inc. lifted its stake in Allegiant Travel by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock valued at $34,584,000 after purchasing an additional 14,852 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Allegiant Travel by 1.5% during the third quarter. Geode Capital Management LLC now owns 364,755 shares of the transportation company’s stock worth $20,089,000 after acquiring an additional 5,424 shares during the last quarter. 85.81% of the stock is currently owned by institutional investors.

Allegiant Travel Trading Up 2.1 %

Shares of NASDAQ ALGT opened at $83.26 on Friday. The firm’s 50 day moving average price is $93.55 and its 200-day moving average price is $69.41. The company has a market cap of $1.53 billion, a PE ratio of -6.23, a P/E/G ratio of 1.03 and a beta of 1.63. Allegiant Travel has a 52-week low of $36.08 and a 52-week high of $107.57. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $0.48 by $1.62. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. On average, equities research analysts expect that Allegiant Travel will post 7.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Barclays raised their price objective on shares of Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. The Goldman Sachs Group lifted their price objective on shares of Allegiant Travel from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. StockNews.com upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. Susquehanna raised their target price on shares of Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. 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 analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $80.10.

Insiders Place Their Bets

In other Allegiant Travel news, Director Sandra Douglass Morgan sold 350 shares of Allegiant Travel stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total transaction of $28,269.50. Following the completion of the transaction, the director now directly owns 11,650 shares of the company’s stock, valued at $940,970.50. The trade was a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of Allegiant Travel stock in a transaction on 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 owns 2,147,730 shares of the company’s stock, valued at approximately $181,397,275.80. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.80% of the stock is owned by company insiders.

Allegiant Travel 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.