Peak6 LLC Purchases New Stake in Allegiant Travel (NASDAQ:ALGT)

PEAK6 LLC bought a new stake in Allegiant Travel (NASDAQ:ALGT - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 40,499 shares of the transportation company's stock, valued at approximately $3,812,000. PEAK6 LLC owned about 0.22% of Allegiant Travel as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. increased its position in Allegiant Travel by 2.5% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,018,449 shares of the transportation company's stock valued at $95,856,000 after acquiring an additional 24,975 shares during the period. State Street Corp increased its holdings 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 valued at $33,530,000 after purchasing an additional 10,050 shares during the period. Franklin Resources Inc. increased its holdings in shares of Allegiant Travel by 2.5% during the third quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company's stock valued at $34,584,000 after purchasing an additional 14,852 shares during the period. American Century Companies Inc. raised its stake in shares of Allegiant Travel by 14.8% during 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 in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Allegiant Travel by 1.5% in the third quarter. Geode Capital Management LLC now owns 364,755 shares of the transportation company's stock worth $20,089,000 after purchasing an additional 5,424 shares during the period. 85.81% of the stock is currently owned by institutional investors.

Allegiant Travel Trading Up 9.3 %

Shares of NASDAQ ALGT traded up $3.88 during mid-day trading on Wednesday, hitting $45.60. 655,897 shares of the company traded hands, compared to its average volume of 425,420. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. Allegiant Travel has a 1 year low of $36.09 and a 1 year high of $107.57. The stock has a market capitalization of $836.27 million, a price-to-earnings ratio of -3.41 and a beta of 1.57. The business has a 50 day moving average of $58.26 and a two-hundred day moving average of $73.91.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 EPS for the quarter, beating 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%. On average, sell-side analysts anticipate that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ALGT shares. Susquehanna dropped their price target on shares of Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Barclays dropped their target price on Allegiant Travel from $100.00 to $60.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. The Goldman Sachs Group increased their price target on Allegiant Travel from $83.00 to $92.00 and gave the company a "neutral" rating in a research note on Tuesday, January 14th. StockNews.com raised Allegiant Travel from a "sell" rating to a "hold" rating in a research note on Wednesday, January 15th. Finally, Raymond James raised 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 report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $67.00.

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.