Man Group plc Buys Shares of 91,782 Allegiant Travel (NASDAQ:ALGT)

Man Group plc purchased a new stake in Allegiant Travel (NASDAQ:ALGT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 91,782 shares of the transportation company's stock, valued at approximately $8,639,000. Man Group plc owned 0.50% of Allegiant Travel at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Crews Bank & Trust acquired a new stake in shares of Allegiant Travel in the fourth quarter valued at approximately $25,000. Jones Financial Companies Lllp increased its stake in shares of Allegiant Travel by 94.5% during the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company's stock valued at $43,000 after acquiring an additional 223 shares during the period. Sterling Capital Management LLC increased its stake 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 valued at $47,000 after acquiring an additional 442 shares during the period. Signaturefd LLC increased its stake in shares of Allegiant Travel by 30.3% during the fourth quarter. Signaturefd LLC now owns 594 shares of the transportation company's stock valued at $56,000 after acquiring an additional 138 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Allegiant Travel during the fourth quarter valued at approximately $75,000. Institutional investors and hedge funds own 85.81% of the company's stock.

Allegiant Travel Trading Down 7.1%

Allegiant Travel stock traded down $3.95 during midday trading on Wednesday, reaching $51.46. The stock had a trading volume of 490,725 shares, compared to its average volume of 430,690. The firm's fifty day simple moving average is $50.24 and its two-hundred day simple moving average is $72.44. Allegiant Travel has a twelve month low of $36.09 and a twelve month high of $107.57. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The firm has a market cap of $939.40 million, a price-to-earnings ratio of -3.85 and a beta of 1.78.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The transportation company reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.27. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. The firm had revenue of $699.07 million during the quarter, compared to analyst estimates of $700.00 million. During the same quarter last year, the business posted $0.57 EPS. The company's revenue was up 6.5% on a year-over-year basis. Equities analysts anticipate that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Bank of America lowered their price objective on shares of Allegiant Travel from $95.00 to $50.00 and set an "underperform" rating on the stock in a research note on Thursday, April 3rd. Morgan Stanley lowered their price objective on shares of Allegiant Travel from $93.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Monday. Susquehanna lowered their price objective on shares of Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Barclays lowered their price objective on shares of Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Finally, TD Cowen raised their price objective on shares of Allegiant Travel from $35.00 to $50.00 and gave the company a "hold" rating in a research note on Monday, May 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price 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.