Jackson Creek Investment Advisors LLC Acquires New Holdings in Allegiant Travel Company (NASDAQ:ALGT)

Jackson Creek Investment Advisors LLC acquired a new position in Allegiant Travel Company (NASDAQ:ALGT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,612 shares of the transportation company's stock, valued at approximately $806,000. Jackson Creek Investment Advisors LLC owned approximately 0.09% of Allegiant Travel as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in ALGT. Jacobs Levy Equity Management Inc. bought a new stake in Allegiant Travel in the 4th quarter valued at $26,067,000. Emerald Advisers LLC acquired a new stake in Allegiant Travel in the 4th quarter valued at approximately $22,256,000. Voloridge Investment Management LLC acquired a new stake in Allegiant Travel in the 4th quarter valued at approximately $16,713,000. Mesirow Institutional Investment Management Inc. bought a new stake in Allegiant Travel in the 4th quarter valued at approximately $13,830,000. Finally, T. Rowe Price Investment Management Inc. boosted its position in Allegiant Travel by 16.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 928,641 shares of the transportation company's stock worth $87,404,000 after acquiring an additional 131,561 shares during the last quarter. Institutional investors own 85.81% of the company's stock.

Allegiant Travel Stock Up 2.0%

Shares of ALGT traded up $1.03 during trading hours on Tuesday, reaching $52.48. The stock had a trading volume of 322,216 shares, compared to its average volume of 419,863. The company has a market capitalization of $957.76 million, a price-to-earnings ratio of -4.54, a P/E/G ratio of 0.43 and a beta of 1.71. The firm has a 50-day simple moving average of $54.93 and a 200 day simple moving average of $64.53. 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 12 month low of $36.09 and a 12 month high of $107.57.

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 the consensus estimate 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 the consensus estimate of $700.00 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. Allegiant Travel's revenue was up 6.5% compared to the same quarter last year. Equities research analysts predict that Allegiant Travel Company will post 7.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on ALGT shares. Barclays reduced their target price on Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. TD Cowen lifted their price target on Allegiant Travel from $35.00 to $50.00 and gave the stock a "hold" rating in a report on Monday, May 12th. Susquehanna decreased their price objective on Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. UBS Group assumed coverage on shares of Allegiant Travel in a research report on Monday, July 7th. They issued a "neutral" rating and a $59.00 target price for the company. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $80.00 price target (down from $90.00) on shares of Allegiant Travel in a research report on Wednesday, May 7th. 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Allegiant Travel currently has a consensus rating of "Hold" and an average price target of $65.11.

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.