UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys Shares of 6,964 Allegiant Travel (NASDAQ:ALGT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Allegiant Travel (NASDAQ:ALGT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,964 shares of the transportation company's stock, valued at approximately $655,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Voloridge Investment Management LLC bought a new position in shares of Allegiant Travel during the fourth quarter worth $16,713,000. Woodline Partners LP bought a new position in shares of Allegiant Travel during the fourth quarter worth $5,372,000. ProShare Advisors LLC bought a new position in shares of Allegiant Travel during the fourth quarter worth $438,000. Man Group plc bought a new position in shares of Allegiant Travel during the fourth quarter worth $8,639,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Allegiant Travel by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,808 shares of the transportation company's stock worth $829,000 after acquiring an additional 292 shares during the last quarter. Institutional investors own 85.81% of the company's stock.

Analyst Upgrades and Downgrades

ALGT has been the subject of several research reports. Morgan Stanley lowered 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 report on Monday, May 19th. Raymond James reiterated a "strong-buy" rating and set a $80.00 price objective (down previously from $90.00) on shares of Allegiant Travel in a research report on Wednesday, May 7th. Barclays lowered their price objective on shares of Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. TD Cowen increased their price objective on shares of Allegiant Travel from $35.00 to $50.00 and gave the company a "hold" rating in a research report on Monday, May 12th. Finally, UBS Group increased their price objective on shares of Allegiant Travel from $45.00 to $60.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Allegiant Travel currently has an average rating of "Hold" and a consensus price target of $63.70.

Allegiant Travel Trading Down 4.9%

Shares of ALGT traded down $2.64 during midday trading on Friday, hitting $51.05. The stock had a trading volume of 653,539 shares, compared to its average volume of 429,545. The firm has a market cap of $931.92 million, a PE ratio of -3.82 and a beta of 1.74. Allegiant Travel has a 1 year low of $36.09 and a 1 year high of $107.57. The stock's 50 day moving average is $51.26 and its 200 day moving average is $70.11. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The transportation company reported $1.81 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 the consensus estimate of $700.00 million. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. The firm's revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 EPS. As a group, analysts forecast that Allegiant Travel will post 7.7 EPS for the current fiscal year.

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.