Broad Run Investment Management LLC increased its holdings in shares of Allegiant Travel (NASDAQ:ALGT – Get Rating) by 0.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 219,450 shares of the transportation company's stock after buying an additional 1,872 shares during the quarter. Allegiant Travel comprises approximately 2.5% of Broad Run Investment Management LLC's portfolio, making the stock its 14th biggest holding. Broad Run Investment Management LLC's holdings in Allegiant Travel were worth $35,636,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. FourThought Financial LLC lifted its position in Allegiant Travel by 12.0% during the first quarter. FourThought Financial LLC now owns 730 shares of the transportation company's stock worth $119,000 after buying an additional 78 shares during the period. Advisor Group Holdings Inc. raised its holdings in shares of Allegiant Travel by 2.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,980 shares of the transportation company's stock worth $648,000 after purchasing an additional 78 shares during the period. Eaton Vance Management raised its holdings in shares of Allegiant Travel by 1.1% in the 4th quarter. Eaton Vance Management now owns 7,908 shares of the transportation company's stock worth $1,370,000 after purchasing an additional 86 shares during the period. Sei Investments Co. raised its holdings in shares of Allegiant Travel by 0.3% in the 1st quarter. Sei Investments Co. now owns 28,155 shares of the transportation company's stock worth $4,588,000 after purchasing an additional 92 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Allegiant Travel by 58.0% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 267 shares of the transportation company's stock worth $43,000 after purchasing an additional 98 shares during the period. 87.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on ALGT. Melius began coverage on Allegiant Travel in a report on Monday, August 15th. They issued a "hold" rating on the stock. Raymond James upgraded Allegiant Travel from a "market perform" rating to an "outperform" rating and set a $150.00 price objective on the stock in a report on Thursday. Wolfe Research downgraded Allegiant Travel from an "outperform" rating to a "peer perform" rating and set a $116.00 price objective on the stock. in a report on Friday, August 12th. Susquehanna cut their price objective on Allegiant Travel from $185.00 to $140.00 and set a "positive" rating on the stock in a report on Tuesday, July 12th. Finally, Morgan Stanley lowered their target price on Allegiant Travel from $237.00 to $200.00 and set an "overweight" rating for the company in a research note on Wednesday, August 24th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Allegiant Travel currently has an average rating of "Moderate Buy" and a consensus target price of $168.60.

Allegiant Travel Price Performance

Allegiant Travel (NASDAQ:ALGT – Get Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The transportation company reported $0.62 earnings per share for the quarter, missing analysts' consensus estimates of $1.06 by ($0.44). Allegiant Travel had a net margin of 2.23% and a return on equity of 3.51%. During the same period last year, the business posted $3.46 EPS. Sell-side analysts expect that Allegiant Travel will post 1.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, CMO Scott Wayne Deangelo sold 378 shares of the firm's stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $96.73, for a total transaction of $36,563.94. Following the completion of the sale, the chief marketing officer now owns 17,606 shares in the company, valued at approximately $1,703,028.38. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Robert Paul Wilson III sold 1,800 shares of Allegiant Travel stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $101.15, for a total value of $182,070.00. Following the completion of the transaction, the executive vice president now owns 13,163 shares in the company, valued at approximately $1,331,437.45. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CMO Scott Wayne Deangelo sold 378 shares of Allegiant Travel stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $96.73, for a total value of $36,563.94. Following the completion of the transaction, the chief marketing officer now owns 17,606 shares of the company's stock, valued at approximately $1,703,028.38. The disclosure for this sale can be found here. Insiders sold a total of 4,896 shares of company stock worth $521,593 in the last 90 days. 15.10% of the stock is owned by corporate insiders.

Allegiant Travel Profile

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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 14, 2022, it operated a fleet of 110 Airbus A320 series aircraft.

Further Reading

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