35,743 Shares in Allegiant Travel (NASDAQ:ALGT) Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio acquired a new position in Allegiant Travel (NASDAQ:ALGT - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 35,743 shares of the transportation company's stock, valued at approximately $3,364,000. Public Employees Retirement System of Ohio owned 0.19% of Allegiant Travel as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in ALGT. Donald Smith & CO. Inc. lifted its stake in Allegiant Travel by 2.5% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,018,449 shares of the transportation company's stock worth $95,856,000 after purchasing an additional 24,975 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Allegiant Travel by 16.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 928,641 shares of the transportation company's stock worth $87,404,000 after purchasing an additional 131,561 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Allegiant Travel by 8.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 748,216 shares of the transportation company's stock worth $70,421,000 after purchasing an additional 57,737 shares in the last quarter. American Century Companies Inc. lifted its stake in Allegiant Travel by 14.8% during the fourth quarter. American Century Companies Inc. now owns 564,326 shares of the transportation company's stock worth $53,114,000 after purchasing an additional 72,759 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Allegiant Travel by 18.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 304,642 shares of the transportation company's stock valued at $28,673,000 after acquiring an additional 47,186 shares in the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Allegiant Travel Stock Performance

Shares of ALGT stock traded down $1.08 during mid-day trading on Wednesday, hitting $56.38. 294,548 shares of the stock were exchanged, compared to its average volume of 429,157. The stock's fifty day simple moving average is $50.33 and its two-hundred day simple moving average is $71.22. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -4.22 and a beta of 1.74. Allegiant Travel has a 12-month low of $36.09 and a 12-month high of $107.57. 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 (NASDAQ:ALGT - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $699.07 million for 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%. The business's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.57 earnings per share. On average, analysts forecast that Allegiant Travel will post 7.7 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ALGT shares. Raymond James reiterated a "strong-buy" rating and issued a $80.00 price objective (down from $90.00) on shares of Allegiant Travel in a research note on Wednesday, May 7th. UBS Group increased their price objective on Allegiant Travel from $45.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Barclays reduced their price objective on 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. Morgan Stanley reduced their price objective on Allegiant Travel from $93.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Finally, 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. One 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 company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $63.70.

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.