Intech Investment Management LLC Trims Stock Holdings in Allegiant Travel (NASDAQ:ALGT)

Intech Investment Management LLC cut its holdings in shares of Allegiant Travel (NASDAQ:ALGT) by 20.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,510 shares of the transportation company’s stock after selling 1,667 shares during the quarter. Intech Investment Management LLC’s holdings in Allegiant Travel were worth $613,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ALGT. State Street Corp grew its position in shares of Allegiant Travel by 1.7% during the third quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock worth $33,530,000 after buying an additional 10,050 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Allegiant Travel by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock worth $34,584,000 after purchasing an additional 14,852 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Allegiant Travel by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 364,755 shares of the transportation company’s stock valued at $20,089,000 after purchasing an additional 5,424 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Allegiant Travel by 18.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 304,642 shares of the transportation company’s stock worth $28,673,000 after purchasing an additional 47,186 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in Allegiant Travel by 5.0% in the fourth quarter. Empowered Funds LLC now owns 84,748 shares of the transportation company’s stock worth $7,976,000 after purchasing an additional 4,053 shares in the last quarter. 85.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. StockNews.com raised Allegiant Travel from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. Morgan Stanley lifted their price objective on shares of Allegiant Travel from $90.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Raymond James increased their target price on shares of Allegiant Travel from $75.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, December 30th. Bank of America lifted their price target on shares of Allegiant Travel from $54.00 to $95.00 and gave the company an “underperform” rating in a report on Friday, January 17th. Finally, UBS Group dropped their price objective on shares of Allegiant Travel from $93.00 to $61.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $84.60.

Allegiant Travel Stock Up 2.3 %

Shares of Allegiant Travel stock opened at $56.23 on Tuesday. 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 has a 1-year low of $36.09 and a 1-year high of $107.57. The business’s fifty day moving average price is $81.12 and its two-hundred day moving average price is $74.15. The company has a market capitalization of $1.03 billion, a P/E ratio of -4.21 and a beta of 1.64.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $1.62. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. As a group, research analysts forecast that Allegiant Travel will post 7.7 EPS for the current year.

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.