Clearbridge Investments LLC lessened its holdings in shares of Allegiant Travel (NASDAQ:ALGT - Free Report) by 28.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 192,567 shares of the transportation company's stock after selling 78,385 shares during the quarter. Clearbridge Investments LLC owned about 1.05% of Allegiant Travel worth $18,124,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Nisa Investment Advisors LLC increased its stake in Allegiant Travel by 1,614.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 9,017 shares of the transportation company's stock worth $849,000 after buying an additional 8,491 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Allegiant Travel by 41.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 257,456 shares of the transportation company's stock worth $14,176,000 after acquiring an additional 75,486 shares during the period. State Street Corp increased its position in shares of Allegiant Travel by 1.7% during the third quarter. State Street Corp now owns 608,977 shares of the transportation company's stock worth $33,530,000 after acquiring an additional 10,050 shares during the period. US Bancorp DE raised its stake in shares of Allegiant Travel by 575.4% in the fourth quarter. US Bancorp DE now owns 5,025 shares of the transportation company's stock valued at $473,000 after acquiring an additional 4,281 shares in the last quarter. Finally, PEAK6 Investments LLC purchased a new position in Allegiant Travel in the third quarter valued at $382,000. Hedge funds and other institutional investors own 85.81% of the company's stock.
Analysts Set New Price Targets
ALGT has been the topic of a number of analyst reports. Barclays increased their price target on Allegiant Travel from $85.00 to $100.00 and gave the company an "equal weight" rating in a research report on Thursday, January 16th. Morgan Stanley raised their target price on shares of Allegiant Travel from $90.00 to $95.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Susquehanna lowered their price target on shares of Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating for the company in a report on Monday. StockNews.com upgraded shares of Allegiant Travel from a "sell" rating to a "hold" rating in a report on Wednesday, January 15th. Finally, Raymond James upgraded shares of Allegiant Travel from an "outperform" rating to a "strong-buy" rating and lowered their target price for the stock from $125.00 to $90.00 in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $71.00.
Read Our Latest Research Report on ALGT
Allegiant Travel Stock Performance
Shares of ALGT traded down $0.63 during midday trading on Monday, reaching $45.92. 698,596 shares of the stock were exchanged, compared to its average volume of 413,827. The company has a market capitalization of $842.08 million, a price-to-earnings ratio of -3.43 and a beta of 1.57. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. Allegiant Travel has a twelve month low of $36.09 and a twelve month high of $107.57. The business's 50-day moving average price is $70.88 and its 200 day moving average price is $74.86.
Allegiant Travel (NASDAQ:ALGT - Get Free Report) last released its quarterly earnings results 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 positive return on equity of 3.33% and a negative net margin of 9.56%. On average, sell-side analysts expect that Allegiant Travel will post 7.7 EPS for the current fiscal year.
Allegiant Travel Profile
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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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