Donald Smith & CO. Inc. Boosts Stock Position in Allegiant Travel (NASDAQ:ALGT)

Donald Smith & CO. Inc. raised its holdings in shares of Allegiant Travel (NASDAQ:ALGT) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,018,449 shares of the transportation company’s stock after acquiring an additional 24,975 shares during the quarter. Allegiant Travel makes up 2.3% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 17th biggest holding. Donald Smith & CO. Inc. owned about 0.06% of Allegiant Travel worth $95,856,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ALGT shares. StockNews.com upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th. TD Cowen raised their price objective on shares of Allegiant Travel from $50.00 to $70.00 and gave the company a “hold” rating in a research note on Tuesday, December 17th. Barclays upped their target price on shares of Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Susquehanna boosted their price target on Allegiant Travel from $60.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group raised their price objective on Allegiant Travel from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. One 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 data from MarketBeat, Allegiant Travel presently has an average rating of “Hold” and an average price target of $82.60.

Allegiant Travel Price Performance

ALGT stock opened at $55.45 on Thursday. The stock has a 50-day simple moving average of $74.24 and a 200-day simple moving average of $74.54. The firm has a market cap of $1.02 billion, a P/E ratio of -4.15 and a beta of 1.64. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. Allegiant Travel has a 1 year low of $36.09 and a 1 year high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities analysts predict that Allegiant Travel 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.