6,964 Shares in Allegiant Travel (NASDAQ:ALGT) Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Allegiant Travel (NASDAQ:ALGT) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 6,964 shares of the transportation company’s stock, valued at approximately $655,000.

Several other hedge funds also recently bought and sold shares of ALGT. Russell Investments Group Ltd. increased its stake in Allegiant Travel by 1,486.7% during the fourth quarter. Russell Investments Group Ltd. now owns 1,904 shares of the transportation company’s stock worth $179,000 after acquiring an additional 1,784 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in 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 acquiring an additional 47,186 shares during the last quarter. US Bancorp DE increased its stake in Allegiant Travel by 575.4% during the fourth quarter. US Bancorp DE now owns 5,025 shares of the transportation company’s stock worth $473,000 after acquiring an additional 4,281 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Allegiant Travel during the fourth quarter worth approximately $383,000. Finally, Northern Trust Corp increased its stake in Allegiant Travel by 8.3% during the fourth quarter. Northern Trust Corp now owns 154,282 shares of the transportation company’s stock worth $14,521,000 after acquiring an additional 11,864 shares during the last quarter. Institutional investors own 85.81% of the company’s stock.

Analyst Ratings Changes

ALGT has been the topic of several analyst reports. Morgan Stanley reduced their price objective on Allegiant Travel from $93.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Monday, May 19th. Raymond James reissued a “strong-buy” rating and issued a $80.00 price objective (down from $90.00) on shares of Allegiant Travel in a research report on Wednesday, May 7th. Bank of America reduced their price objective on shares of Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating on the stock in a research report on Thursday, April 3rd. TD Cowen increased their price objective on shares of Allegiant Travel from $35.00 to $50.00 and gave the stock a “hold” rating in a research report on Monday, May 12th. Finally, Susquehanna reduced their price objective on shares of Allegiant Travel from $95.00 to $50.00 and set a “neutral” rating on the stock in a research report 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’s stock. Based on data from MarketBeat, Allegiant Travel has a consensus rating of “Hold” and an average target price of $63.70.

Allegiant Travel Stock Down 6.0%

Allegiant Travel stock opened at $54.59 on Thursday. Allegiant Travel has a 1-year low of $36.09 and a 1-year high of $107.57. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The stock has a market cap of $996.54 million, a PE ratio of -4.08 and a beta of 1.74. The stock’s fifty day moving average is $50.93 and its two-hundred day moving average is $70.60.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Tuesday, May 6th. The transportation company reported $1.81 EPS for the quarter, topping 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 analysts’ expectations of $700.00 million. During the same quarter in the previous year, the firm earned $0.57 earnings per share. The business’s revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts expect that Allegiant Travel will post 7.7 EPS for the current fiscal 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.