M&T Bank Corp Takes $1.32 Million Position in Allegiant Travel Company $ALGT

M&T Bank Corp acquired a new stake in Allegiant Travel Company (NASDAQ:ALGT) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 15,533 shares of the transportation company’s stock, valued at approximately $1,324,000.

Other hedge funds also recently modified their holdings of the company. Hantz Financial Services Inc. increased its stake in shares of Allegiant Travel by 442.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 542 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 442 shares in the last quarter. Signaturefd LLC increased its stake in shares of Allegiant Travel by 27.3% in the 4th quarter. Signaturefd LLC now owns 546 shares of the transportation company’s stock valued at $47,000 after acquiring an additional 117 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Allegiant Travel by 43.7% in the 2nd quarter. NewEdge Advisors LLC now owns 1,227 shares of the transportation company’s stock valued at $67,000 after acquiring an additional 373 shares in the last quarter. AlphaQuest LLC increased its stake in shares of Allegiant Travel by 119.2% in the 3rd quarter. AlphaQuest LLC now owns 1,120 shares of the transportation company’s stock valued at $68,000 after acquiring an additional 609 shares in the last quarter. Finally, iSAM Funds UK Ltd bought a new stake in shares of Allegiant Travel in the 3rd quarter valued at $69,000. Institutional investors own 85.81% of the company’s stock.

Allegiant Travel Price Performance

Shares of NASDAQ:ALGT opened at $74.51 on Thursday. The company’s 50-day moving average is $85.91 and its 200 day moving average is $83.20. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.92 and a current ratio of 0.95. The company has a market capitalization of $1.37 billion, a P/E ratio of -28.99, a price-to-earnings-growth ratio of 0.41 and a beta of 1.63. Allegiant Travel Company has a fifty-two week low of $42.56 and a fifty-two week high of $118.00.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ALGT shares. Susquehanna reissued a “positive” rating and issued a $110.00 price target on shares of Allegiant Travel in a research report on Friday, February 6th. Evercore lifted their price target on shares of Allegiant Travel from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Allegiant Travel in a research report on Wednesday, January 21st. UBS Group lifted their price target on shares of Allegiant Travel from $90.00 to $93.00 and gave the company a “neutral” rating in a research report on Monday, March 23rd. Finally, Wolfe Research raised shares of Allegiant Travel from a “peer perform” rating to an “outperform” rating and set a $108.00 price target for the company in a research report on Tuesday, January 20th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Allegiant Travel has an average rating of “Hold” and an average price target of $97.91.

Insider Buying and Selling at Allegiant Travel

In related news, Chairman Maurice J. Gallagher, Jr. sold 175,000 shares of the business’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $114.23, for a total value of $19,990,250.00. Following the transaction, the chairman directly owned 1,962,348 shares of the company’s stock, valued at approximately $224,159,012.04. The trade was a 8.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 300,000 shares of company stock valued at $34,350,512. 14.70% of the stock is currently owned by insiders.

Allegiant Travel Profile

Allegiant Travel Company is a holding company that operates Allegiant Air, a low?cost leisure airline offering scheduled and charter air service. The company focuses on connecting underserved secondary markets with popular vacation destinations across the United States. By targeting price?sensitive leisure travelers, Allegiant Air operates a point?to?point network that avoids the traditional hub?and?spoke model, providing non?stop flights from smaller cities to resort and entertainment hubs.

In addition to its core flight operations, Allegiant Travel Company offers packaged travel services that include hotel accommodations, rental cars and attraction tickets through its online portal.