Emerald Mutual Fund Advisers Trust Invests $11.86 Million in Allegiant Travel (NASDAQ:ALGT)

Emerald Mutual Fund Advisers Trust bought a new position in Allegiant Travel (NASDAQ:ALGT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 126,027 shares of the transportation company's stock, valued at approximately $11,862,000. Emerald Mutual Fund Advisers Trust owned about 0.69% of Allegiant Travel as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Northern Trust Corp grew its stake in Allegiant Travel by 8.3% in the fourth quarter. Northern Trust Corp now owns 154,282 shares of the transportation company's stock worth $14,521,000 after purchasing an additional 11,864 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Allegiant Travel in the 4th quarter worth approximately $2,380,000. Two Sigma Securities LLC bought a new stake in shares of Allegiant Travel in the 4th quarter valued at approximately $563,000. T. Rowe Price Investment Management Inc. raised its position in shares of Allegiant Travel by 16.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 928,641 shares of the transportation company's stock valued at $87,404,000 after acquiring an additional 131,561 shares in the last quarter. Finally, Dark Forest Capital Management LP bought a new position in Allegiant Travel during the fourth quarter worth $326,000. Institutional investors own 85.81% of the company's stock.

Allegiant Travel Stock Performance

Allegiant Travel stock traded up $3.23 during mid-day trading on Friday, hitting $50.95. 476,005 shares of the company's stock traded hands, compared to its average volume of 426,763. 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 has a one year low of $36.09 and a one year high of $107.57. The firm has a 50 day moving average price of $52.51 and a 200 day moving average price of $73.24. The company has a market cap of $934.32 million, a PE ratio of -3.81 and a beta of 1.57.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 earnings per share 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, equities analysts forecast that Allegiant Travel will post 7.7 EPS for the current year.

Wall Street Analysts Forecast Growth

ALGT has been the topic of a number of research reports. Susquehanna dropped their target price on shares of Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. UBS Group dropped their price objective on shares of Allegiant Travel from $61.00 to $45.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Morgan Stanley raised 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. The Goldman Sachs Group upped their target price on Allegiant Travel from $83.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, January 14th. Finally, StockNews.com raised Allegiant Travel from a "sell" rating to a "hold" rating in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Allegiant Travel has an average rating of "Hold" and a consensus price target of $67.00.

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.