Charles Schwab Investment Management Inc. grew its stake in shares of Allegiant Travel (NASDAQ:ALGT - Free Report) by 18.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 304,642 shares of the transportation company's stock after purchasing an additional 47,186 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.66% of Allegiant Travel worth $28,673,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC raised its position in shares of Allegiant Travel by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 80,695 shares of the transportation company's stock worth $4,443,000 after purchasing an additional 4,020 shares during the period. Drive Wealth Management LLC acquired a new stake in Allegiant Travel during the third quarter valued at approximately $471,000. Segall Bryant & Hamill LLC grew its holdings in shares of Allegiant Travel by 5.1% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 103,508 shares of the transportation company's stock worth $5,699,000 after acquiring an additional 5,052 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Allegiant Travel during the 3rd quarter worth about $450,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in Allegiant Travel during the 3rd quarter valued at $6,193,000. 85.81% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have commented on ALGT. The Goldman Sachs Group boosted their target price on Allegiant Travel from $83.00 to $92.00 and gave the company a "neutral" rating in a research note on Tuesday, January 14th. Barclays upped their target price on shares of Allegiant Travel from $85.00 to $100.00 and gave the company an "equal weight" rating in a research note on Thursday, January 16th. UBS Group cut their price objective on Allegiant Travel from $93.00 to $61.00 and set a "neutral" rating for the company in a report on Thursday. Susquehanna lifted their price target on Allegiant Travel from $60.00 to $105.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. Finally, TD Cowen increased their price objective on shares of Allegiant Travel from $50.00 to $70.00 and gave the company a "hold" rating in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $84.60.
Check Out Our Latest Stock Analysis on ALGT
Allegiant Travel Trading Up 3.7 %
Shares of ALGT stock traded up $1.96 during mid-day trading on Friday, reaching $54.99. The stock had a trading volume of 318,419 shares, compared to its average volume of 398,572. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The stock's 50-day moving average price is $82.86 and its two-hundred day moving average price is $73.49. The firm has a market capitalization of $1.01 billion, a PE ratio of -4.11 and a beta of 1.64. Allegiant Travel has a 52-week low of $36.09 and a 52-week high of $107.57.
Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 EPS for the quarter, topping the consensus estimate of $0.48 by $1.62. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. Equities analysts expect that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.
Allegiant Travel Profile
(
Free Report)
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.
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