Victory Capital Management Inc. Sells 2,469 Shares of Allegiant Travel (NASDAQ:ALGT)

Victory Capital Management Inc. reduced its stake in Allegiant Travel (NASDAQ:ALGT) by 47.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,682 shares of the transportation company’s stock after selling 2,469 shares during the quarter. Victory Capital Management Inc.’s holdings in Allegiant Travel were worth $252,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. SeaCrest Wealth Management LLC lifted its stake in Allegiant Travel by 3.3% during the fourth quarter. SeaCrest Wealth Management LLC now owns 6,210 shares of the transportation company’s stock worth $584,000 after purchasing an additional 200 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Allegiant Travel by 94.5% during the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock worth $43,000 after buying an additional 223 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Allegiant Travel by 53.5% during the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after buying an additional 236 shares in the last quarter. Crews Bank & Trust acquired a new position in shares of Allegiant Travel during the fourth quarter worth $25,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Allegiant Travel by 3.1% during the fourth quarter. Principal Financial Group Inc. now owns 70,588 shares of the transportation company’s stock worth $6,644,000 after buying an additional 2,133 shares in the last quarter. 85.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Barclays upped their price target on shares of Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. StockNews.com upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. Morgan Stanley upped their price target 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 upped their price target on shares of Allegiant Travel from $60.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Finally, Raymond James increased their price objective on Allegiant Travel from $75.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, December 30th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, Allegiant Travel presently has an average rating of “Hold” and an average price target of $84.60.

Allegiant Travel Price Performance

ALGT stock opened at $54.96 on Friday. 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 firm has a market cap of $1.01 billion, a price-to-earnings ratio of -4.11 and a beta of 1.64. The company’s fifty day simple moving average is $81.94 and its 200 day simple moving average is $73.80. Allegiant Travel has a 12-month low of $36.09 and a 12-month high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $1.62. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. On average, analysts expect that Allegiant Travel will post 7.7 earnings per share 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.