Allegiant Travel Company (NASDAQ:ALGT) Shares Purchased by Emerald Advisers LLC

Emerald Advisers LLC boosted its holdings in shares of Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 26.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 298,286 shares of the transportation company's stock after buying an additional 61,826 shares during the period. Emerald Advisers LLC owned approximately 1.63% of Allegiant Travel worth $15,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Signaturefd LLC increased its position in Allegiant Travel by 30.3% during the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company's stock valued at $56,000 after buying an additional 138 shares in the last quarter. Jones Financial Companies Lllp increased its position in Allegiant Travel by 94.5% during the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company's stock valued at $43,000 after buying an additional 223 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Allegiant Travel by 3.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,808 shares of the transportation company's stock valued at $829,000 after purchasing an additional 292 shares during the last quarter. Legal & General Group Plc grew its stake in Allegiant Travel by 1.1% during the 4th quarter. Legal & General Group Plc now owns 31,767 shares of the transportation company's stock valued at $2,990,000 after purchasing an additional 348 shares during the last quarter. Finally, Sterling Capital Management LLC grew its stake in Allegiant Travel by 803.6% during the 4th quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company's stock valued at $47,000 after purchasing an additional 442 shares during the last quarter. 85.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on ALGT. Evercore ISI upgraded Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 price target on the stock in a research note on Tuesday, July 1st. Bank of America dropped their price target on Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating on the stock in a research note on Tuesday, July 8th. Morgan Stanley dropped their price target on Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating on the stock in a research note on Monday, July 7th. Raymond James Financial reiterated a "strong-buy" rating and set a $80.00 price target (down previously from $90.00) on shares of Allegiant Travel in a research note on Wednesday, May 7th. Finally, UBS Group started coverage on Allegiant Travel in a research note on Monday, July 7th. They issued a "neutral" rating and a $59.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $65.11.

Allegiant Travel Price Performance

Shares of Allegiant Travel stock traded down $4.07 during mid-day trading on Friday, reaching $54.52. 526,680 shares of the stock traded hands, compared to its average volume of 426,274. The business has a 50-day moving average of $54.87 and a 200 day moving average of $66.11. Allegiant Travel Company has a fifty-two week low of $36.09 and a fifty-two week high of $107.57. The stock has a market capitalization of $995.26 million, a PE ratio of -4.71, a PEG ratio of 0.42 and a beta of 1.71. The company has a quick ratio of 0.87, a current ratio of 0.90 and a debt-to-equity ratio of 1.57.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last announced its earnings results on Tuesday, May 6th. The transportation company reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.54 by $0.27. Allegiant Travel had a positive return on equity of 5.46% and a negative net margin of 8.11%. The business had revenue of $699.07 million during the quarter, compared to analysts' expectations of $700.00 million. During the same quarter in the prior year, the firm earned $0.57 earnings per share. The business's revenue was up 6.5% compared to the same quarter last year. On average, analysts predict that Allegiant Travel Company will post 7.7 EPS for the current year.

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.