UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires New Shares in Allegiant Travel (NASDAQ:ALGT)

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

A number of other institutional investors and hedge funds also recently made changes to their positions in ALGT. Jones Financial Companies Lllp lifted its position in Allegiant Travel by 94.5% in the 4th 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 in the last quarter. Sterling Capital Management LLC lifted its position in Allegiant Travel by 803.6% in the 4th 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 in the last quarter. Signaturefd LLC lifted its position in Allegiant Travel by 30.3% in the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company's stock valued at $56,000 after acquiring an additional 138 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Allegiant Travel in the 4th quarter valued at about $75,000. Finally, Russell Investments Group Ltd. lifted its position in Allegiant Travel by 1,486.7% in the 4th quarter. Russell Investments Group Ltd. now owns 1,904 shares of the transportation company's stock valued at $179,000 after acquiring an additional 1,784 shares in the last quarter. Institutional investors own 85.81% of the company's stock.

Allegiant Travel Stock Performance

Shares of ALGT stock traded down $2.64 during trading hours on Friday, hitting $51.05. 653,539 shares of the company were exchanged, compared to its average volume of 429,545. The firm has a fifty day simple moving average of $51.26 and a 200 day simple moving average of $70.11. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. Allegiant Travel has a 52-week low of $36.09 and a 52-week high of $107.57. The stock has a market capitalization of $931.92 million, a price-to-earnings ratio of -3.82 and a beta of 1.74.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued 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 negative net margin of 9.56% and a positive return on equity of 3.33%. The company 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. Allegiant Travel's quarterly revenue was up 6.5% compared to the same quarter last year. Research analysts predict that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ALGT. Morgan Stanley dropped their price target on shares of Allegiant Travel from $93.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Monday, May 19th. Susquehanna decreased their price objective on shares of Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. 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 note on Tuesday, May 13th. Bank of America decreased their price objective on shares of Allegiant Travel from $95.00 to $50.00 and set an "underperform" rating for the company in a research note on Thursday, April 3rd. Finally, Barclays decreased 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 note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus 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.