Clearbridge Investments LLC Purchases Shares of 178,353 Allegiant Travel (NASDAQ:ALGT)

Clearbridge Investments LLC acquired a new position in shares of Allegiant Travel (NASDAQ:ALGT - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 178,353 shares of the transportation company's stock, valued at approximately $8,959,000. Clearbridge Investments LLC owned 0.98% of Allegiant Travel as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. ProShare Advisors LLC raised its stake in shares of Allegiant Travel by 6.9% during the first quarter. ProShare Advisors LLC now owns 3,155 shares of the transportation company's stock valued at $237,000 after purchasing an additional 203 shares during the period. 180 Wealth Advisors LLC grew its stake in shares of Allegiant Travel by 5.7% during the first quarter. 180 Wealth Advisors LLC now owns 7,291 shares of the transportation company's stock valued at $548,000 after acquiring an additional 392 shares in the last quarter. Privium Fund Management UK Ltd lifted its stake in shares of Allegiant Travel by 4.5% in the second quarter. Privium Fund Management UK Ltd now owns 10,191 shares of the transportation company's stock worth $504,000 after acquiring an additional 438 shares in the last quarter. SeaCrest Wealth Management LLC boosted its holdings in Allegiant Travel by 10.6% in the second quarter. SeaCrest Wealth Management LLC now owns 5,560 shares of the transportation company's stock valued at $279,000 after purchasing an additional 535 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in Allegiant Travel by 7.9% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 7,591 shares of the transportation company's stock valued at $381,000 after purchasing an additional 553 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company's stock.

Insider Buying and Selling at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of Allegiant Travel stock in a transaction on Monday, August 26th. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the sale, the director now owns 7,490 shares of the company's stock, valued at $337,050. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have sold 1,699 shares of company stock worth $77,350. 17.50% of the stock is owned by company insiders.

Allegiant Travel Stock Performance

Shares of NASDAQ:ALGT traded up $2.81 during trading on Friday, hitting $57.81. 437,167 shares of the company traded hands, compared to its average volume of 358,010. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 1.30. The business's fifty day moving average is $44.37 and its 200-day moving average is $51.86. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 6.10 and a beta of 1.65. Allegiant Travel has a one year low of $36.08 and a one year high of $85.91.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The transportation company reported $1.77 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.93. The firm had revenue of $666.28 million during the quarter, compared to the consensus estimate of $657.74 million. Allegiant Travel had a positive return on equity of 3.48% and a negative net margin of 0.57%. During the same period in the prior year, the business earned $4.35 EPS. The firm's revenue was down 2.6% on a year-over-year basis. As a group, equities analysts predict that Allegiant Travel will post 0.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ALGT. Barclays reduced their target price on Allegiant Travel from $55.00 to $45.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft lowered shares of Allegiant Travel from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $75.00 to $53.00 in a report on Monday, July 8th. TD Cowen upped their target price on shares of Allegiant Travel from $33.00 to $42.00 and gave the company a "hold" rating in a research note on Thursday. Evercore ISI lifted their price target on Allegiant Travel from $60.00 to $65.00 and gave the stock an "in-line" rating in a research note on Thursday. Finally, Susquehanna cut their price objective on Allegiant Travel from $55.00 to $40.00 and set a "neutral" rating on the stock in a research note on Friday, August 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $61.25.

Allegiant Travel Profile

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.