Emerald Advisers LLC raised its holdings in shares of Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 26.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 298,286 shares of the transportation company's stock after acquiring an additional 61,826 shares during the period. Emerald Advisers LLC owned approximately 1.63% of Allegiant Travel worth $15,406,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Farther Finance Advisors LLC increased its position in shares of Allegiant Travel by 489.1% in the 1st quarter. Farther Finance Advisors LLC now owns 542 shares of the transportation company's stock valued at $28,000 after buying an additional 450 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Allegiant Travel by 94.5% during the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company's stock worth $43,000 after buying an additional 223 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of Allegiant Travel by 803.6% during the 4th quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company's stock worth $47,000 after buying an additional 442 shares during the last quarter. Signaturefd LLC lifted its stake in Allegiant Travel by 30.3% in the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company's stock valued at $56,000 after purchasing an additional 138 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Allegiant Travel in the 4th quarter valued at about $75,000. Institutional investors own 85.81% of the company's stock.
Allegiant Travel Trading Up 0.1%
ALGT stock traded up $0.05 during midday trading on Wednesday, hitting $52.51. The stock had a trading volume of 386,366 shares, compared to its average volume of 426,103. The firm has a market cap of $958.31 million, a P/E ratio of -4.54, a price-to-earnings-growth ratio of 0.43 and a beta of 1.71. The company has a current ratio of 0.90, a quick ratio of 0.87 and a debt-to-equity ratio of 1.57. Allegiant Travel Company has a 1-year low of $36.09 and a 1-year high of $107.57. The business has a fifty day moving average price of $55.03 and a two-hundred day moving average price of $65.49.
Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The transportation company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.27. Allegiant Travel had a negative net margin of 8.11% and a positive return on equity of 5.46%. The firm had revenue of $699.07 million during the quarter, compared to the consensus estimate of $700.00 million. During the same period in the previous year, the firm posted $0.57 earnings per share. The business's revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts predict that Allegiant Travel Company will post 7.7 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms have weighed in on ALGT. Barclays lowered their price target on shares of Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. Bank of America decreased their price objective on shares of 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 decreased 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 research note on Monday, July 7th. TD Cowen raised their target price on shares of Allegiant Travel from $35.00 to $50.00 and gave the company a "hold" rating in a research report on Monday, May 12th. Finally, Evercore ISI upgraded shares of Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 price target on the stock in a report on Tuesday, July 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $65.11.
Check Out Our Latest Research Report on Allegiant Travel
About Allegiant Travel
(
Free Report)
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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