Franklin Resources Inc. Purchases 14,852 Shares of Allegiant Travel (NASDAQ:ALGT)

Franklin Resources Inc. boosted its position in Allegiant Travel (NASDAQ:ALGT) by 2.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 600,211 shares of the transportation company’s stock after acquiring an additional 14,852 shares during the period. Franklin Resources Inc.’s holdings in Allegiant Travel were worth $34,584,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Signaturefd LLC increased its stake in shares of Allegiant Travel by 149.2% in the third 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 boosted its holdings in Allegiant Travel by 136.9% in the 3rd 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 period. Innealta Capital LLC purchased a new position in Allegiant Travel in the 2nd quarter valued at approximately $34,000. NBC Securities Inc. raised its holdings in Allegiant Travel by 2,827.9% during the 3rd quarter. NBC Securities Inc. now owns 1,259 shares of the transportation company’s stock valued at $69,000 after acquiring an additional 1,216 shares during the period. Finally, Headlands Technologies LLC lifted its position in shares of Allegiant Travel by 170.6% during the second quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock worth $127,000 after acquiring an additional 1,590 shares in the last quarter. 85.81% of the stock is owned by hedge funds and other institutional investors.

Allegiant Travel Price Performance

Shares of NASDAQ:ALGT opened at $80.85 on Thursday. The company’s fifty day moving average price is $72.82 and its 200-day moving average price is $56.37. 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 firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -53.90, a PEG ratio of 7.17 and a beta of 1.67. Allegiant Travel has a one year low of $36.08 and a one year high of $94.45.

Insider Activity at Allegiant Travel

In other news, Chairman Maurice J. Gallagher, Jr. sold 28,319 shares of the company’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 completion of the transaction, the chairman now directly owns 2,147,730 shares in the company, valued at approximately $181,397,275.80. This represents a 1.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sandra Douglass Morgan sold 350 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total value of $28,269.50. Following the transaction, the director now directly owns 11,650 shares in the company, valued at approximately $940,970.50. This represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,600 shares of company stock valued at $2,476,465 over the last 90 days. 15.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Morgan Stanley lifted their price target on Allegiant Travel from $80.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. UBS Group assumed coverage on Allegiant Travel in a report on Tuesday, November 26th. They set a “neutral” rating and a $16.00 target price for the company. Wolfe Research downgraded shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. TD Cowen boosted their price objective on shares of Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a research note on Tuesday. Finally, Evercore ISI increased their target price on shares of Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a research note on Thursday, October 3rd. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $68.00.

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.