Principal Financial Group Inc. Lowers Stock Position in Allegiant Travel (NASDAQ:ALGT)

Principal Financial Group Inc. lowered its position in shares of Allegiant Travel (NASDAQ:ALGT – Get Rating) by 0.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 103,010 shares of the transportation company’s stock after selling 700 shares during the period. Principal Financial Group Inc.’s holdings in Allegiant Travel were worth $16,728,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Swiss National Bank lifted its position in Allegiant Travel by 9.2% during the first quarter. Swiss National Bank now owns 10,728 shares of the transportation company’s stock valued at $1,742,000 after buying an additional 900 shares during the period. Duality Advisers LP lifted its position in Allegiant Travel by 196.3% during the first quarter. Duality Advisers LP now owns 4,700 shares of the transportation company’s stock valued at $763,000 after buying an additional 3,114 shares during the period. U S Global Investors Inc. lifted its position in Allegiant Travel by 18.3% during the first quarter. U S Global Investors Inc. now owns 616,869 shares of the transportation company’s stock valued at $100,173,000 after buying an additional 95,643 shares during the period. IndexIQ Advisors LLC purchased a new position in Allegiant Travel during the first quarter valued at $415,000. Finally, Royce & Associates LP purchased a new position in Allegiant Travel during the first quarter valued at $7,425,000. Hedge funds and other institutional investors own 98.49% of the company’s stock.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, CMO Scott Wayne Deangelo sold 500 shares of the business’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $112.89, for a total transaction of $56,445.00. Following the completion of the sale, the chief marketing officer now directly owns 8,035 shares in the company, valued at approximately $907,071.15. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CMO Scott Wayne Deangelo sold 500 shares of Allegiant Travel stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $112.89, for a total transaction of $56,445.00. Following the transaction, the chief marketing officer now directly owns 8,035 shares of the company’s stock, valued at approximately $907,071.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Scott Sheldon sold 914 shares of Allegiant Travel stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $114.77, for a total value of $104,899.78. Following the transaction, the chief operating officer now directly owns 38,680 shares in the company, valued at $4,439,303.60. The disclosure for this sale can be found here. Insiders sold a total of 2,272 shares of company stock worth $259,817 in the last three months. 15.10% of the stock is currently owned by company insiders.

Allegiant Travel Price Performance

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NASDAQ ALGT opened at $102.47 on Friday. Allegiant Travel has a one year low of $101.39 and a one year high of $215.48. The stock has a 50-day moving average of $114.31 and a 200 day moving average of $141.57. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 39.87 and a beta of 1.49. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.49 and a current ratio of 1.53.

Allegiant Travel (NASDAQ:ALGT – Get Rating) last released its quarterly earnings results on Wednesday, August 3rd. The transportation company reported $0.62 earnings per share (EPS) 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 in the prior year, the company earned $3.46 EPS. On average, sell-side analysts forecast that Allegiant Travel will post 1.72 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ALGT. Melius started coverage on Allegiant Travel in a research report on Monday, August 15th. They set a “hold” rating for the company. Evercore ISI lowered their price target on Allegiant Travel from $175.00 to $150.00 and set an “in-line” rating for the company in a research report on Monday, June 27th. Barclays lowered their price target on Allegiant Travel from $180.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, August 10th. Morgan Stanley lowered their price target on Allegiant Travel from $250.00 to $237.00 and set an “overweight” rating for the company in a research report on Friday, July 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Allegiant Travel from $245.00 to $190.00 in a research report on Thursday, August 4th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $180.80.

About Allegiant Travel

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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.