LPL Financial LLC Acquires 6,281 Shares of Allegiant Travel (NASDAQ:ALGT)

LPL Financial LLC boosted its position in Allegiant Travel (NASDAQ:ALGT) by 61.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,548 shares of the transportation company’s stock after purchasing an additional 6,281 shares during the period. LPL Financial LLC’s holdings in Allegiant Travel were worth $1,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp grew its position in shares of Allegiant Travel by 1.7% in the third quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock valued at $33,530,000 after purchasing an additional 10,050 shares in the last quarter. Franklin Resources Inc. boosted its stake in 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 period. American Century Companies Inc. grew its holdings in Allegiant Travel by 14.8% during the 4th quarter. American Century Companies Inc. now owns 564,326 shares of the transportation company’s stock valued at $53,114,000 after buying an additional 72,759 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Allegiant Travel by 1.5% during the third quarter. Geode Capital Management LLC now owns 364,755 shares of the transportation company’s stock valued at $20,089,000 after buying an additional 5,424 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Allegiant Travel by 18.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 304,642 shares of the transportation company’s stock worth $28,673,000 after buying an additional 47,186 shares in the last quarter. Institutional investors own 85.81% of the company’s stock.

Allegiant Travel Stock Performance

Shares of NASDAQ ALGT opened at $44.16 on Friday. The stock has a market cap of $809.81 million, a price-to-earnings ratio of -3.30 and a beta of 1.57. The stock’s 50-day moving average is $60.76 and its 200 day moving average is $74.08. 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 1-year low of $36.09 and a 1-year high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 earnings per share for the quarter, topping 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%. On average, sell-side analysts anticipate that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ALGT. UBS Group reduced their price objective on shares of Allegiant Travel from $61.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. 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 research report on Wednesday, April 2nd. Morgan Stanley upped their price target 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. Barclays dropped their price objective on Allegiant Travel from $100.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Finally, StockNews.com raised Allegiant Travel from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $67.00.

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.