ExodusPoint Capital Management LP acquired a new position in shares of Allegiant Travel (NASDAQ:ALGT - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 38,800 shares of the transportation company's stock, valued at approximately $3,652,000. ExodusPoint Capital Management LP owned approximately 0.21% of Allegiant Travel as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. 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 purchasing an additional 10,050 shares in the last quarter. Franklin Resources Inc. grew its stake in Allegiant Travel by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company's stock worth $34,584,000 after buying an additional 14,852 shares during the last quarter. American Century Companies Inc. increased its position in Allegiant Travel by 14.8% during the 4th quarter. American Century Companies Inc. now owns 564,326 shares of the transportation company's stock valued at $53,114,000 after buying an additional 72,759 shares in the last quarter. Geode Capital Management LLC increased its position in Allegiant Travel by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 364,755 shares of the transportation company's stock valued at $20,089,000 after buying an additional 5,424 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Allegiant Travel by 18.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 304,642 shares of the transportation company's stock valued at $28,673,000 after buying an additional 47,186 shares during the last quarter. Hedge funds and other institutional investors own 85.81% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on ALGT shares. Barclays cut their price objective on shares of Allegiant Travel from $100.00 to $60.00 and set an "equal weight" rating on the stock in a report on Tuesday. Raymond James raised shares of Allegiant Travel from an "outperform" rating to a "strong-buy" rating and decreased their price target for the stock from $125.00 to $90.00 in a report on Wednesday, April 2nd. StockNews.com raised shares of Allegiant Travel from a "sell" rating to a "hold" rating in a report on Wednesday, January 15th. UBS Group cut their target price on Allegiant Travel from $61.00 to $45.00 and set a "neutral" rating on the stock in a research report on Monday. Finally, Bank of America lowered their price target on Allegiant Travel from $95.00 to $50.00 and set an "underperform" rating for the company in a research report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued 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 price target of $67.00.
Check Out Our Latest Stock Report on ALGT
Allegiant Travel Stock Performance
Shares of ALGT stock traded up $0.13 on Friday, hitting $46.51. The company had a trading volume of 314,206 shares, compared to its average volume of 418,733. Allegiant Travel has a twelve month low of $36.09 and a twelve month high of $107.57. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The firm has a market cap of $852.90 million, a P/E ratio of -3.48 and a beta of 1.57. The company has a 50-day moving average price of $64.25 and a 200-day moving average price of $74.45.
Allegiant Travel (NASDAQ:ALGT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share for the quarter, beating 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%. As a group, equities research analysts predict that Allegiant Travel will post 7.7 earnings per share 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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