Allegiant Travel Company (NASDAQ:ALGT) Shares Purchased by Farther Finance Advisors LLC

Farther Finance Advisors LLC boosted its holdings in Allegiant Travel Company (NASDAQ:ALGT) by 489.1% during the first quarter, HoldingsChannel reports. The fund owned 542 shares of the transportation company’s stock after buying an additional 450 shares during the period. Farther Finance Advisors LLC’s holdings in Allegiant Travel were worth $28,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ALGT. Jacobs Levy Equity Management Inc. acquired a new position in Allegiant Travel in the fourth quarter valued at approximately $26,067,000. Emerald Advisers LLC purchased a new stake in Allegiant Travel in the fourth quarter valued at approximately $22,256,000. Voloridge Investment Management LLC purchased a new stake in Allegiant Travel in the fourth quarter valued at approximately $16,713,000. Mesirow Institutional Investment Management Inc. purchased a new stake in Allegiant Travel in the fourth quarter valued at approximately $13,830,000. Finally, T. Rowe Price Investment Management Inc. raised its position in Allegiant Travel by 16.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 928,641 shares of the transportation company’s stock valued at $87,404,000 after purchasing an additional 131,561 shares during the period. 85.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on ALGT. Raymond James Financial reissued a “strong-buy” rating and issued a $80.00 target price (down previously from $90.00) on shares of Allegiant Travel in a research report on Wednesday, May 7th. Bank of America cut 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, April 3rd. TD Cowen upped their price objective on Allegiant Travel from $35.00 to $50.00 and gave the stock a “hold” rating in a research report on Monday, May 12th. UBS Group upped their price objective on Allegiant Travel from $45.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 13th. Finally, Morgan Stanley cut their price objective on Allegiant Travel from $93.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Monday, May 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $63.70.

Allegiant Travel Stock Up 0.5%

Allegiant Travel stock opened at $54.28 on Thursday. The firm has a market capitalization of $990.61 million, a P/E ratio of -4.69, a P/E/G ratio of 0.31 and a beta of 1.74. The stock’s fifty day simple moving average is $52.25 and its 200-day simple moving average is $68.61. The company has a current ratio of 0.90, a quick ratio of 0.87 and a debt-to-equity ratio of 1.57. Allegiant Travel Company has a twelve month low of $36.09 and a twelve month high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Tuesday, May 6th. The transportation company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.54 by $0.27. The firm had revenue of $699.07 million for the quarter, compared to analyst estimates of $700.00 million. Allegiant Travel had a positive return on equity of 5.46% and a negative net margin of 8.11%. Allegiant Travel’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.57 earnings per share. As a group, equities analysts expect that Allegiant Travel Company will post 7.7 earnings per share 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.