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

Key Points

• M&T Bank Corp opened a new stake in Allegiant Travel, buying 15,533 shares in Q4 valued at about $1.32 million and representing roughly 0.08% of the company.
• Analyst sentiment is mixed—five Buy, seven Hold and one Sell—giving a consensus rating of Hold with a $97.91 average price target; the stock recently opened at $74.51, down about 4.2%.
• Insiders sold 300,000 shares worth approximately $34.35 million in the last three months; insiders still own 14.70% of the company while institutional investors hold about 85.81%.

M&T Bank Corp bought a new position in shares of Allegiant Travel Company (NASDAQ:ALGT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 15,533 shares of the transportation company's stock, valued at approximately $1,324,000. M&T Bank Corp owned 0.08% of Allegiant Travel at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Hantz Financial Services Inc. boosted its position in Allegiant Travel by 442.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 542 shares of the transportation company's stock worth $33,000 after buying an additional 442 shares during the period. Signaturefd LLC boosted its position in Allegiant Travel by 27.3% during the 4th quarter. Signaturefd LLC now owns 546 shares of the transportation company's stock worth $47,000 after buying an additional 117 shares during the period. NewEdge Advisors LLC boosted its position in Allegiant Travel by 43.7% during the 2nd quarter. NewEdge Advisors LLC now owns 1,227 shares of the transportation company's stock worth $67,000 after buying an additional 373 shares during the period. AlphaQuest LLC boosted its position in Allegiant Travel by 119.2% during the 3rd quarter. AlphaQuest LLC now owns 1,120 shares of the transportation company's stock worth $68,000 after buying an additional 609 shares during the period. Finally, iSAM Funds UK Ltd acquired a new stake in Allegiant Travel during the 3rd quarter worth approximately $69,000. 85.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ALGT shares. Weiss Ratings reiterated a "sell (d)" rating on shares of Allegiant Travel in a research report on Wednesday, January 21st. Wolfe Research upgraded shares of Allegiant Travel from a "peer perform" rating to an "outperform" rating and set a $108.00 target price on the stock in a research report on Tuesday, January 20th. UBS Group lifted their target price on shares of Allegiant Travel from $90.00 to $93.00 and gave the stock a "neutral" rating in a research report on Monday, March 23rd. Bank of America upgraded shares of Allegiant Travel from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $55.00 to $95.00 in a report on Tuesday, January 6th. Finally, Susquehanna restated a "positive" rating and set a $110.00 price target on shares of Allegiant Travel in a report on Friday, February 6th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $97.91.

Allegiant Travel Stock Down 4.2%

Allegiant Travel stock opened at $74.51 on Thursday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.92 and a current ratio of 0.95. Allegiant Travel Company has a 52-week low of $42.56 and a 52-week high of $118.00. The firm has a 50 day moving average price of $85.91 and a two-hundred day moving average price of $83.20. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of -28.99, a PEG ratio of 0.41 and a beta of 1.63.

Insider Buying and Selling at Allegiant Travel

In other news, Chairman Maurice J. Gallagher, Jr. sold 861 shares of Allegiant Travel stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $114.00, for a total value of $98,154.00. Following the completion of the sale, the chairman owned 150,000 shares in the company, valued at $17,100,000. The trade was a 0.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have sold 300,000 shares of company stock valued at $34,350,512. Insiders own 14.70% of the company's stock.

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.

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