Franklin Resources Inc. Sells 21,472 Shares of Allegiant Travel (NASDAQ:ALGT)

Franklin Resources Inc. decreased its stake in shares of Allegiant Travel (NASDAQ:ALGT - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 578,739 shares of the transportation company's stock after selling 21,472 shares during the quarter. Franklin Resources Inc. owned about 3.15% of Allegiant Travel worth $54,471,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Crews Bank & Trust bought a new stake in Allegiant Travel in the fourth quarter valued at $25,000. Jones Financial Companies Lllp grew its stake in shares of Allegiant Travel by 94.5% in the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company's stock valued at $43,000 after buying an additional 223 shares during the period. Signaturefd LLC increased its position in Allegiant Travel by 30.3% in the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company's stock valued at $56,000 after buying an additional 138 shares in the last quarter. GAMMA Investing LLC raised its stake in Allegiant Travel by 53.5% during the 4th quarter. GAMMA Investing LLC now owns 677 shares of the transportation company's stock worth $64,000 after buying an additional 236 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in Allegiant Travel in the fourth quarter worth approximately $75,000. Institutional investors and hedge funds own 85.81% of the company's stock.

Allegiant Travel Stock Performance

Allegiant Travel stock traded down $4.55 during mid-day trading on Thursday, reaching $45.79. The company's stock had a trading volume of 132,791 shares, compared to its average volume of 417,033. The company has a market capitalization of $839.70 million, a P/E ratio of -3.43 and a beta of 1.57. Allegiant Travel has a 12-month low of $36.09 and a 12-month high of $107.57. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The firm's fifty day moving average price is $66.33 and its two-hundred day moving average price is $74.47.

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Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates 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%. Sell-side analysts predict that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ALGT shares. StockNews.com upgraded shares of Allegiant Travel from a "sell" rating to a "hold" rating in a report on Wednesday, January 15th. Barclays dropped their price objective on Allegiant Travel from $100.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Morgan Stanley raised their price target on shares of Allegiant Travel from $90.00 to $95.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. 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 research note on Tuesday, December 17th. Finally, Susquehanna dropped their price target on Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $67.00.

About Allegiant Travel

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.