Picton Mahoney Asset Management Purchases New Stake in Allegiant Travel (NASDAQ:ALGT)

Picton Mahoney Asset Management bought a new position in shares of Allegiant Travel (NASDAQ:ALGT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,206 shares of the transportation company's stock, valued at approximately $490,000.

A number of other hedge funds also recently modified their holdings of the stock. Commonwealth Equity Services LLC acquired a new stake in shares of Allegiant Travel during the 4th quarter worth about $270,000. Amundi raised its stake in Allegiant Travel by 168.3% in the 4th quarter. Amundi now owns 7,010 shares of the transportation company's stock worth $696,000 after purchasing an additional 4,397 shares in the last quarter. Inceptionr LLC acquired a new stake in Allegiant Travel in the 4th quarter worth about $294,000. Raymond James Financial Inc. acquired a new stake in Allegiant Travel in the 4th quarter worth about $383,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in Allegiant Travel in the 4th quarter worth about $254,000. Institutional investors and hedge funds own 85.81% of the company's stock.

Allegiant Travel Stock Down 5.3 %

ALGT traded down $2.94 during trading on Thursday, hitting $53.03. 518,756 shares of the company's stock were exchanged, compared to its average volume of 397,299. 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 business's 50 day moving average is $83.78 and its two-hundred day moving average is $73.63. Allegiant Travel has a fifty-two week low of $36.09 and a fifty-two week high of $107.57. The stock has a market cap of $972.46 million, a P/E ratio of -3.97 and a beta of 1.64.

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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 (EPS) for the quarter, topping the consensus estimate 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%. As a group, equities analysts expect that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on ALGT. The Goldman Sachs Group lifted their price objective on shares of Allegiant Travel from $83.00 to $92.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 14th. Barclays raised their target price on shares of Allegiant Travel from $85.00 to $100.00 and gave the company an "equal weight" rating in a report on Thursday, January 16th. Bank of America raised their target price on shares of Allegiant Travel from $54.00 to $95.00 and gave the company an "underperform" rating in a report on Friday, January 17th. Raymond James lifted their price target on shares of Allegiant Travel from $75.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, December 30th. Finally, Susquehanna lifted their price target on shares of Allegiant Travel from $60.00 to $105.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $84.60.

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.