Allegiant Travel Company $ALGT Shares Acquired by U S Global Investors Inc.

Key Points

• U S Global Investors Inc. increased its stake in Allegiant Travel by 4.3% during the 2nd quarter, now holding approximately 2.8% of the company's investment portfolio.
• Multiple hedge funds have also recently adjusted their holdings in Allegiant Travel, with a notable 489.1% increase in shares by Farther Finance Advisors LLC in the 1st quarter.
• Analysts have mixed ratings on Allegiant Travel, with a consensus rating of "Hold" and an average target price of $70.56 despite recent price adjustments from firms like Morgan Stanley and Bank of America.

U S Global Investors Inc. boosted its holdings in Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 4.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 430,153 shares of the transportation company's stock after purchasing an additional 17,753 shares during the quarter. Allegiant Travel comprises approximately 2.8% of U S Global Investors Inc.'s investment portfolio, making the stock its 8th largest holding. U S Global Investors Inc. owned about 2.36% of Allegiant Travel worth $23,637,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. New York State Common Retirement Fund boosted its holdings in Allegiant Travel by 8.5% during the 1st quarter. New York State Common Retirement Fund now owns 6,003 shares of the transportation company's stock worth $310,000 after acquiring an additional 470 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in Allegiant Travel by 8.2% during the 1st quarter. New York State Teachers Retirement System now owns 18,922 shares of the transportation company's stock worth $977,000 after acquiring an additional 1,426 shares during the last quarter. SG Americas Securities LLC purchased a new position in Allegiant Travel during the 1st quarter worth $597,000. Illinois Municipal Retirement Fund boosted its holdings in Allegiant Travel by 33.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 9,826 shares of the transportation company's stock worth $508,000 after acquiring an additional 2,480 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Allegiant Travel by 489.1% during the 1st quarter. Farther Finance Advisors LLC now owns 542 shares of the transportation company's stock worth $28,000 after acquiring an additional 450 shares during the last quarter. 85.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Morgan Stanley cut their price objective on shares of Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating on the stock in a report on Monday, July 7th. Bank of America boosted their price target on shares of Allegiant Travel from $50.00 to $55.00 and gave the stock an "underperform" rating in a report on Wednesday, October 1st. Susquehanna boosted their price target on shares of Allegiant Travel from $50.00 to $65.00 and gave the stock a "neutral" rating in a report on Friday, October 3rd. Barclays boosted their price target on shares of Allegiant Travel from $52.00 to $60.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 1st. Finally, Zacks Research raised shares of Allegiant Travel from a "strong sell" rating to a "hold" rating in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $70.56.

Allegiant Travel Trading Down 3.3%

Shares of Allegiant Travel stock opened at $58.75 on Friday. Allegiant Travel Company has a 52-week low of $39.80 and a 52-week high of $107.57. The stock's 50-day simple moving average is $59.90 and its 200 day simple moving average is $54.73. The stock has a market capitalization of $1.08 billion, a P/E ratio of -3.69, a P/E/G ratio of 0.48 and a beta of 1.71. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.07 and a current ratio of 1.10.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last announced its quarterly earnings data on Thursday, May 12th. The transportation company reported $1.18 earnings per share (EPS) for the quarter. Allegiant Travel had a positive return on equity of 5.00% and a negative net margin of 11.10%.The business had revenue of $496.88 million for the quarter. As a group, research analysts anticipate that Allegiant Travel Company will post 7.7 EPS for the current year.

Allegiant Travel Company 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.

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