Allegiant Travel (NASDAQ:ALGT) Holdings Trimmed by Intech Investment Management LLC

Intech Investment Management LLC cut its holdings in Allegiant Travel (NASDAQ:ALGT) by 20.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 6,510 shares of the transportation company’s stock after selling 1,667 shares during the quarter. Intech Investment Management LLC’s holdings in Allegiant Travel were worth $613,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. State Street Corp grew its stake in shares of Allegiant Travel by 1.7% in the 3rd quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock worth $33,530,000 after purchasing an additional 10,050 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Allegiant Travel by 2.5% during the third quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock worth $34,584,000 after buying an additional 14,852 shares in the last quarter. Geode Capital Management LLC grew its position 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 buying an additional 5,424 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Allegiant Travel by 18.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 304,642 shares of the transportation company’s stock valued at $28,673,000 after buying an additional 47,186 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Allegiant Travel by 5.0% during the 4th quarter. Empowered Funds LLC now owns 84,748 shares of the transportation company’s stock valued at $7,976,000 after acquiring an additional 4,053 shares during the last quarter. 85.81% of the stock is owned by institutional investors and hedge funds.

Allegiant Travel Stock Up 2.3 %

ALGT stock opened at $56.23 on Tuesday. The firm has a market cap of $1.03 billion, a PE ratio of -4.21 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 fifty day simple moving average of $81.12 and a 200 day simple moving average of $74.15. 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 released its quarterly 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 positive return on equity of 3.33% and a negative net margin of 9.56%. 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 equities research analysts have recently issued reports on the company. 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. Susquehanna upped their price target on shares of Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. StockNews.com upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. 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 note on Tuesday, December 17th. Finally, The Goldman Sachs Group lifted their target price on Allegiant Travel from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Allegiant Travel currently has an average rating of “Hold” and a consensus price target of $84.60.

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.