Jacobs Levy Equity Management Inc. Invests $26.07 Million in Allegiant Travel (NASDAQ:ALGT)

Jacobs Levy Equity Management Inc. acquired a new stake in Allegiant Travel (NASDAQ:ALGT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 276,957 shares of the transportation company's stock, valued at approximately $26,067,000. Jacobs Levy Equity Management Inc. owned 1.51% of Allegiant Travel at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Donald Smith & CO. Inc. increased its position in Allegiant Travel by 2.5% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,018,449 shares of the transportation company's stock valued at $95,856,000 after purchasing an additional 24,975 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Allegiant Travel by 16.5% in 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 purchasing an additional 131,561 shares during the period. Dimensional Fund Advisors LP increased its holdings in Allegiant Travel by 8.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 748,216 shares of the transportation company's stock worth $70,421,000 after acquiring an additional 57,737 shares in the last quarter. American Century Companies Inc. increased its holdings in Allegiant Travel by 14.8% in the 4th quarter. American Century Companies Inc. now owns 564,326 shares of the transportation company's stock worth $53,114,000 after acquiring an additional 72,759 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Allegiant Travel by 18.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 304,642 shares of the transportation company's stock valued at $28,673,000 after buying an additional 47,186 shares in the last quarter. 85.81% of the stock is currently owned by institutional investors.

Allegiant Travel Stock Up 1.6%

Shares of NASDAQ ALGT traded up $0.87 during midday trading on Friday, hitting $56.13. 357,609 shares of the company's stock were exchanged, compared to its average volume of 431,269. The company has a market cap of $1.02 billion, a PE ratio of -4.20 and a beta of 1.78. Allegiant Travel has a twelve month low of $36.09 and a twelve month high of $107.57. The firm's fifty day simple moving average is $50.25 and its 200-day simple moving average is $72.71. 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 released its earnings results on Tuesday, May 6th. The transportation company reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.27. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. The business had revenue of $699.07 million for the quarter, compared to analyst estimates of $700.00 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. The company's revenue for the quarter was up 6.5% compared to the same quarter last year. Research analysts predict that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. UBS Group raised their price target on Allegiant Travel from $45.00 to $60.00 and gave the stock a "neutral" rating in a research report on Tuesday. Bank of America cut their price target 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. Morgan Stanley raised their price target on Allegiant Travel from $90.00 to $95.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. TD Cowen lifted their target price on Allegiant Travel from $35.00 to $50.00 and gave the company a "hold" rating in a research note on Monday, May 12th. Finally, Susquehanna dropped their price target on Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. One 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 company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $64.70.

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.