Prudential Financial Inc. Sells 10,050 Shares of Allegiant Travel (NASDAQ:ALGT)

Prudential Financial Inc. reduced its position in Allegiant Travel (NASDAQ:ALGT) by 17.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,492 shares of the transportation company’s stock after selling 10,050 shares during the quarter. Prudential Financial Inc. owned approximately 0.26% of Allegiant Travel worth $4,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALGT. Emerald Advisers LLC bought a new position in Allegiant Travel in the 4th quarter worth $22,256,000. LPL Financial LLC grew its position in shares of Allegiant Travel by 61.2% during the fourth quarter. LPL Financial LLC now owns 16,548 shares of the transportation company’s stock worth $1,558,000 after purchasing an additional 6,281 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Allegiant Travel during the 4th quarter valued at approximately $75,000. Sei Investments Co. lifted its holdings in Allegiant Travel by 68.1% in the 4th quarter. Sei Investments Co. now owns 18,908 shares of the transportation company’s stock worth $1,780,000 after purchasing an additional 7,657 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake 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 purchasing an additional 72,759 shares during the period. 85.81% of the stock is owned by hedge funds and other institutional investors.

Allegiant Travel Stock Performance

NASDAQ ALGT opened at $51.65 on Tuesday. The company has a market cap of $947.16 million, a P/E ratio of -3.86 and a beta of 1.64. The business’s 50 day moving average price is $76.30 and its 200-day moving average price is $74.61. Allegiant Travel has a fifty-two week low of $36.09 and a fifty-two week 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) last posted 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%. Sell-side analysts predict that Allegiant Travel will post 7.7 earnings per share for the current year.

Wall Street Analyst Weigh In

ALGT has been the topic of several research analyst reports. The Goldman Sachs Group boosted their target price on shares of Allegiant Travel from $83.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. StockNews.com upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th. UBS Group cut their price objective on Allegiant Travel from $93.00 to $61.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. Barclays boosted their target price on Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Finally, Raymond James raised their price target on Allegiant Travel from $75.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, December 30th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Allegiant Travel currently has a consensus rating of “Hold” and an average target price of $84.60.

Allegiant Travel 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.