Sei Investments Co. Increases Stake in Allegiant Travel (NASDAQ:ALGT)

Sei Investments Co. grew its holdings in Allegiant Travel (NASDAQ:ALGT - Free Report) by 68.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,908 shares of the transportation company's stock after purchasing an additional 7,657 shares during the period. Sei Investments Co. owned approximately 0.10% of Allegiant Travel worth $1,780,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Signaturefd LLC grew its stake 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. SeaCrest Wealth Management LLC boosted its holdings in shares of Allegiant Travel by 3.3% in the fourth quarter. SeaCrest Wealth Management LLC now owns 6,210 shares of the transportation company's stock worth $584,000 after acquiring an additional 200 shares during the period. Jones Financial Companies Lllp grew its position in shares of Allegiant Travel by 94.5% in the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company's stock valued at $43,000 after purchasing an additional 223 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Allegiant Travel by 53.5% during the 4th quarter. GAMMA Investing LLC now owns 677 shares of the transportation company's stock valued at $64,000 after purchasing an additional 236 shares during the period. Finally, Crews Bank & Trust purchased a new stake in Allegiant Travel during the 4th quarter worth about $25,000. Institutional investors own 85.81% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. UBS Group reduced their target price on Allegiant Travel from $61.00 to $45.00 and set a "neutral" rating for the company in a report on Monday. Morgan Stanley upped their target price on shares of Allegiant Travel from $90.00 to $95.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Susquehanna cut their price target on shares of Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating for the company in a report on Monday. The Goldman Sachs Group upped their price target on shares of Allegiant Travel from $83.00 to $92.00 and gave the stock a "neutral" rating in a report on Tuesday, January 14th. Finally, TD Cowen increased their price objective on Allegiant Travel from $50.00 to $70.00 and gave the stock a "hold" rating in a research report on Tuesday, December 17th. One 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 stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $67.00.

Allegiant Travel Price Performance

Shares of NASDAQ ALGT traded down $3.96 during trading hours on Thursday, reaching $46.38. 647,498 shares of the stock traded hands, compared to its average volume of 418,652. The company's 50-day simple moving average is $65.30 and its two-hundred day simple moving average is $74.46. The company has a market capitalization of $850.52 million, a P/E ratio of -3.47 and a beta of 1.57. Allegiant Travel has a 52-week low of $36.09 and a 52-week high of $107.57. 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 (NASDAQ:ALGT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The transportation company reported $2.10 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%. Equities research analysts forecast that Allegiant Travel will post 7.7 EPS for the current year.

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.