Emerald Mutual Fund Advisers Trust Purchases 37,121 Shares of Allegiant Travel Company (NASDAQ:ALGT)

Emerald Mutual Fund Advisers Trust boosted its stake in Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 29.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,148 shares of the transportation company's stock after acquiring an additional 37,121 shares during the period. Emerald Mutual Fund Advisers Trust owned 0.89% of Allegiant Travel worth $8,427,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ALGT. Signaturefd LLC boosted its holdings in shares of Allegiant Travel by 30.3% during the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company's stock worth $56,000 after buying an additional 138 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of 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 worth $829,000 after buying an additional 292 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Allegiant Travel by 1.1% during the 4th quarter. Legal & General Group Plc now owns 31,767 shares of the transportation company's stock worth $2,990,000 after buying an additional 348 shares in the last quarter. Finally, Sterling Capital Management LLC raised its position in shares of Allegiant Travel by 803.6% during the fourth quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company's stock worth $47,000 after purchasing an additional 442 shares during the period. 85.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ALGT shares. Susquehanna lowered their target price on Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. UBS Group started coverage on Allegiant Travel in a research report on Monday, July 7th. They set a "neutral" rating and a $59.00 target price on the stock. TD Cowen upped their target price on Allegiant Travel from $35.00 to $50.00 and gave the stock a "hold" rating in a research report on Monday, May 12th. Bank of America lowered their target price on Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating on the stock in a research report on Tuesday, July 8th. Finally, Evercore ISI raised Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 target price on the stock in a research report on Tuesday, July 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has issued 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.

Allegiant Travel Stock Performance

NASDAQ ALGT traded down $1.75 during trading hours on Tuesday, reaching $52.46. 339,831 shares of the company were exchanged, compared to its average volume of 425,772. The company has a quick ratio of 0.87, a current ratio of 0.90 and a debt-to-equity ratio of 1.57. The stock has a market capitalization of $957.40 million, a P/E ratio of -4.53, a P/E/G ratio of 0.45 and a beta of 1.71. Allegiant Travel Company has a 1 year low of $36.09 and a 1 year high of $107.57. The business's 50 day simple moving average is $54.87 and its 200-day simple moving average is $65.93.

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

Allegiant Travel 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.