M&T Bank Corp Sells 1,056 Shares of Allegiant Travel (NASDAQ:ALGT)

M&T Bank Corp decreased its holdings in shares of Allegiant Travel (NASDAQ:ALGT) by 24.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,270 shares of the transportation company’s stock after selling 1,056 shares during the quarter. M&T Bank Corp’s holdings in Allegiant Travel were worth $308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Empowered Funds LLC grew its position in shares of Allegiant Travel by 5.2% in the third quarter. Empowered Funds LLC now owns 80,695 shares of the transportation company’s stock valued at $4,443,000 after purchasing an additional 4,020 shares in the last quarter. Drive Wealth Management LLC purchased a new position in Allegiant Travel during the 3rd quarter valued at about $471,000. Segall Bryant & Hamill LLC increased its position in shares of Allegiant Travel by 5.1% during the third quarter. Segall Bryant & Hamill LLC now owns 103,508 shares of the transportation company’s stock valued at $5,699,000 after buying an additional 5,052 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Allegiant Travel in the third quarter worth about $450,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of Allegiant Travel in the third quarter worth about $6,193,000. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Allegiant Travel Stock Performance

Shares of NASDAQ ALGT opened at $54.23 on Friday. The stock’s 50-day moving average is $86.46 and its 200 day moving average is $73.17. The stock has a market cap of $994.47 million, a price-to-earnings ratio of -4.06 and a beta of 1.64. Allegiant Travel has a 1-year low of $36.09 and a 1-year high of $107.57. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings results 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 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ALGT shares. Raymond James upped their target price on shares of Allegiant Travel from $75.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, December 30th. TD Cowen boosted their price target on shares of Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, December 17th. The Goldman Sachs Group increased their price objective on Allegiant Travel from $83.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Barclays boosted their target price on Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Finally, UBS Group initiated coverage on Allegiant Travel in a report on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Allegiant Travel currently has a consensus rating of “Hold” and an average target price of $80.10.

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.