Meeder Asset Management Inc. Has $731,000 Stock Holdings in Allegiant Travel Company (NASDAQ:ALGT)

Meeder Asset Management Inc. boosted its holdings in Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 196.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,150 shares of the transportation company's stock after buying an additional 9,373 shares during the period. Meeder Asset Management Inc. owned 0.08% of Allegiant Travel worth $731,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ALGT. Farther Finance Advisors LLC lifted its stake 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 purchasing an additional 450 shares in the last quarter. Sterling Capital Management LLC lifted its stake in shares of Allegiant Travel by 803.6% in 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 in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Allegiant Travel in the 4th quarter valued at about $75,000. CWM LLC lifted its stake in shares of Allegiant Travel by 400.8% in the 1st quarter. CWM LLC now owns 2,559 shares of the transportation company's stock valued at $132,000 after purchasing an additional 2,048 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Allegiant Travel by 1,486.7% in the 4th quarter. Russell Investments Group Ltd. now owns 1,904 shares of the transportation company's stock valued at $179,000 after purchasing an additional 1,784 shares in the last quarter. 85.81% of the stock is owned by institutional investors and hedge funds.

Allegiant Travel Stock Performance

ALGT stock traded down $3.52 during trading on Friday, reaching $48.12. 599,761 shares of the company's stock were exchanged, compared to its average volume of 438,340. 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 Company has a 1-year low of $36.08 and a 1-year high of $107.57. The company's fifty day moving average price is $54.19 and its 200-day moving average price is $62.09. The firm has a market cap of $878.43 million, a PE ratio of -4.16, a P/E/G ratio of 0.42 and a beta of 1.71.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The transportation company reported $1.81 earnings per share (EPS) for the quarter, topping 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 company had revenue of $699.07 million during the quarter, compared to analyst estimates of $700.00 million. During the same quarter in the previous year, the firm posted $0.57 EPS. The firm's quarterly revenue was up 6.5% on a year-over-year basis. On average, research analysts expect that Allegiant Travel Company will post 7.7 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. UBS Group assumed coverage on Allegiant Travel in a report on Monday, July 7th. They set a "neutral" rating and a $59.00 target price on the stock. Susquehanna dropped their target price on Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. TD Cowen raised their target price on Allegiant Travel from $35.00 to $50.00 and gave the company a "hold" rating in a report on Monday, May 12th. Morgan Stanley dropped their target price on Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating on the stock in a report on Monday, July 7th. Finally, Evercore ISI upgraded Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 target price on the stock in a report on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Allegiant Travel presently has a consensus rating of "Hold" and an average target price of $65.11.

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.