3,126 Shares in Allegiant Travel (NASDAQ:ALGT) Bought by Inceptionr LLC

Inceptionr LLC purchased a new stake in shares of Allegiant Travel (NASDAQ:ALGT) during the fourth quarter, Holdings Channel reports. The fund purchased 3,126 shares of the transportation company’s stock, valued at approximately $294,000.

A number of other large investors have also recently bought and sold shares of ALGT. Raymond James Financial Inc. bought a new stake in shares of Allegiant Travel during the 4th quarter valued at about $383,000. Cornerstone Investment Partners LLC acquired a new position in Allegiant Travel in the fourth quarter valued at approximately $254,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Allegiant Travel by 18.3% during the 4th 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. Jones Financial Companies Lllp grew its position in shares of Allegiant Travel by 94.5% during the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock worth $43,000 after buying an additional 223 shares during the period. Finally, US Bancorp DE grew its position in shares of Allegiant Travel by 575.4% during the 4th quarter. US Bancorp DE now owns 5,025 shares of the transportation company’s stock worth $473,000 after buying an additional 4,281 shares during the period. 85.81% of the stock is currently owned by institutional investors and hedge funds.

Allegiant Travel Price Performance

Shares of NASDAQ:ALGT opened at $60.76 on Monday. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The stock has a market cap of $1.11 billion, a PE ratio of -4.54 and a beta of 1.64. The stock’s fifty day simple moving average is $90.29 and its two-hundred day simple moving average is $73.17. Allegiant Travel has a 1-year low of $36.09 and a 1-year high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last posted its 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%. As a group, analysts forecast that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on ALGT shares. Bank of America boosted their target price on shares of Allegiant Travel from $54.00 to $95.00 and gave the company an “underperform” rating in a research report on Friday, January 17th. Morgan Stanley upped their price objective on shares of Allegiant Travel from $90.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. StockNews.com raised Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th. Raymond James increased their price target on Allegiant Travel from $75.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, December 30th. Finally, UBS Group began coverage on Allegiant Travel in a report on Tuesday, November 26th. They set a “neutral” rating and a $16.00 price objective for the company. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $80.10.

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.