Deutsche Bank AG Purchases 17,991 Shares of Allegiant Travel (NASDAQ:ALGT)

Deutsche Bank AG raised its position in Allegiant Travel (NASDAQ:ALGT - Free Report) by 209.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,573 shares of the transportation company's stock after buying an additional 17,991 shares during the quarter. Deutsche Bank AG owned about 0.14% of Allegiant Travel worth $2,501,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Crews Bank & Trust bought a new position in Allegiant Travel in the fourth quarter valued at approximately $25,000. Jones Financial Companies Lllp lifted its stake in Allegiant Travel by 94.5% during the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company's stock worth $43,000 after purchasing an additional 223 shares during the last quarter. Sterling Capital Management LLC boosted its holdings 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. Signaturefd LLC increased its stake in shares of 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 position in shares of Allegiant Travel during the 4th quarter worth $75,000. 85.81% of the stock is currently owned by institutional investors and hedge funds.

Allegiant Travel Trading Up 6.8%

Shares of NASDAQ:ALGT traded up $3.55 during mid-day trading on Tuesday, reaching $55.89. 351,354 shares of the company's stock were exchanged, compared to its average volume of 430,877. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. Allegiant Travel has a twelve month low of $36.09 and a twelve month high of $107.57. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -4.18 and a beta of 1.78. The business's fifty day moving average price is $50.20 and its 200-day moving average price is $71.99.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last announced its earnings results on Tuesday, May 6th. The transportation company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.27. The business had revenue of $699.07 million during the quarter, compared to analyst estimates of $700.00 million. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. Allegiant Travel's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $0.57 EPS. On average, research analysts predict that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Bank of America reduced their price objective on Allegiant Travel from $95.00 to $50.00 and set an "underperform" rating on the stock in a research note on Thursday, April 3rd. TD Cowen lifted their price target on shares of Allegiant Travel from $35.00 to $50.00 and gave the company a "hold" rating in a report on Monday, May 12th. Susquehanna lowered their price objective on shares of Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Morgan Stanley dropped their price objective on shares of Allegiant Travel from $93.00 to $85.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Finally, UBS Group boosted their target price on shares of Allegiant Travel from $45.00 to $60.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Allegiant Travel has a consensus rating of "Hold" and a consensus price target of $63.70.

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.