Corebridge Financial Inc. Trims Position in Allegiant Travel (NASDAQ:ALGT)

Corebridge Financial Inc. trimmed its stake in Allegiant Travel (NASDAQ:ALGT) by 7.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,216 shares of the transportation company’s stock after selling 639 shares during the period. Corebridge Financial Inc.’s holdings in Allegiant Travel were worth $773,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Crews Bank & Trust purchased a new position in Allegiant Travel during the 4th quarter worth $25,000. Jones Financial Companies Lllp increased its stake in shares of Allegiant Travel by 94.5% during the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock valued at $43,000 after buying an additional 223 shares during the period. Signaturefd LLC increased its stake in shares of Allegiant Travel by 30.3% during the fourth quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock valued at $56,000 after buying an additional 138 shares during the period. GAMMA Investing LLC raised its holdings in shares of Allegiant Travel by 53.5% in the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock valued at $64,000 after acquiring an additional 236 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Allegiant Travel in the fourth quarter worth about $75,000. 85.81% of the stock is owned by hedge funds and other institutional investors.

Allegiant Travel Price Performance

Shares of NASDAQ:ALGT opened at $46.55 on Monday. Allegiant Travel has a twelve month low of $36.09 and a twelve month high of $107.57. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The company has a market cap of $853.63 million, a PE ratio of -3.48 and a beta of 1.57. The company’s 50 day moving average is $72.05 and its 200 day moving average is $74.84.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $0.48 by $1.62. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. On average, sell-side analysts forecast that Allegiant Travel will post 7.7 EPS for the current year.

Wall Street Analysts Forecast Growth

ALGT has been the subject of several recent research reports. Raymond James upgraded shares of Allegiant Travel from an “outperform” rating to a “strong-buy” rating and reduced their price target for the company from $125.00 to $90.00 in a report on Wednesday, April 2nd. StockNews.com upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. Bank of America dropped their target price on Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating on the stock in a research report on Thursday. UBS Group reduced their price target 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. Finally, Barclays raised their price objective on Allegiant Travel from $85.00 to $100.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $78.10.

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.