Mesirow Institutional Investment Management Inc. Takes Position in Allegiant Travel (NASDAQ:ALGT)

Mesirow Institutional Investment Management Inc. bought a new position in Allegiant Travel (NASDAQ:ALGT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 146,944 shares of the transportation company's stock, valued at approximately $13,830,000. Mesirow Institutional Investment Management Inc. owned about 0.80% of Allegiant Travel as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Emerald Advisers LLC acquired a new position in Allegiant Travel in the 4th quarter valued at $22,256,000. American Century Companies Inc. grew its position in shares of Allegiant Travel by 14.8% in the fourth quarter. American Century Companies Inc. now owns 564,326 shares of the transportation company's stock valued at $53,114,000 after purchasing an additional 72,759 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Allegiant Travel by 8.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 748,216 shares of the transportation company's stock worth $70,421,000 after purchasing an additional 57,737 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of 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 worth $28,673,000 after purchasing an additional 47,186 shares during the period. Finally, PEAK6 LLC acquired a new position in shares of Allegiant Travel during the 4th quarter worth about $3,812,000. Institutional investors own 85.81% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Morgan Stanley lifted their price target on Allegiant Travel from $90.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. The Goldman Sachs Group upped their target price on shares of Allegiant Travel from $83.00 to $92.00 and gave the company a "neutral" rating in a research note on Tuesday, January 14th. UBS Group decreased their price target on shares of Allegiant Travel from $61.00 to $45.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Raymond James raised shares of Allegiant Travel from an "outperform" rating to a "strong-buy" rating and cut their price objective for the company from $125.00 to $90.00 in a research report on Wednesday, April 2nd. Finally, Barclays reduced their target price on shares of Allegiant Travel from $100.00 to $60.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $67.00.

Allegiant Travel Price Performance

Shares of ALGT stock traded up $3.88 during trading hours on Wednesday, hitting $45.60. The company had a trading volume of 774,610 shares, compared to its average volume of 426,386. 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 is $57.50 and its 200 day moving average is $73.72. The firm has a market capitalization of $836.27 million, a price-to-earnings ratio of -3.41 and a beta of 1.57.

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 analysts' consensus estimates 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 predict that Allegiant Travel will post 7.7 EPS for the current fiscal year.

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.