Cornerstone Investment Partners LLC Takes Position in Allegiant Travel (NASDAQ:ALGT)

Cornerstone Investment Partners LLC purchased a new stake in Allegiant Travel (NASDAQ:ALGT) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,700 shares of the transportation company’s stock, valued at approximately $254,000.

A number of other institutional investors have also modified their holdings of ALGT. Landscape Capital Management L.L.C. acquired a new stake in Allegiant Travel in the 3rd quarter worth approximately $6,193,000. Charles Schwab Investment Management Inc. boosted its stake in Allegiant Travel by 41.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 257,456 shares of the transportation company’s stock worth $14,176,000 after purchasing an additional 75,486 shares in the last quarter. Barclays PLC boosted its stake in Allegiant Travel by 136.9% in the 3rd quarter. Barclays PLC now owns 31,876 shares of the transportation company’s stock worth $1,755,000 after purchasing an additional 18,421 shares in the last quarter. Paloma Partners Management Co acquired a new stake in Allegiant Travel in the 3rd quarter worth approximately $1,004,000. Finally, 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 in the last quarter. 85.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ALGT has been the topic of several recent research reports. TD Cowen upped their price objective on shares of Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, December 17th. Barclays upped their price objective on shares of Allegiant Travel from $85.00 to $100.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. The Goldman Sachs Group upped their price objective on shares of Allegiant Travel from $83.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Wolfe Research downgraded shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Finally, StockNews.com raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $80.10.

Allegiant Travel Stock Performance

NASDAQ:ALGT opened at $69.48 on Tuesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The company has a fifty day moving average of $92.51 and a two-hundred day moving average of $72.52. The stock has a market capitalization of $1.27 billion, a PE ratio of -5.20 and a beta of 1.63. Allegiant Travel has a fifty-two week low of $36.09 and a fifty-two week high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Tuesday, February 4th. The transportation company reported $2.10 EPS 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%. As a group, research analysts forecast that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

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.