Jacobs Levy Equity Management Inc. Purchases New Holdings in Allegiant Travel (NASDAQ:ALGT)

Jacobs Levy Equity Management Inc. purchased a new stake in Allegiant Travel (NASDAQ:ALGT) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 276,957 shares of the transportation company’s stock, valued at approximately $26,067,000.

Several other institutional investors have also made changes to their positions in the stock. Signaturefd LLC boosted its stake in shares of Allegiant Travel by 30.3% in the fourth quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock valued at $56,000 after buying an additional 138 shares during the period. SeaCrest Wealth Management LLC boosted its stake in shares of Allegiant Travel by 3.3% in the fourth quarter. SeaCrest Wealth Management LLC now owns 6,210 shares of the transportation company’s stock valued at $584,000 after buying an additional 200 shares during the period. Jones Financial Companies Lllp lifted its stake in 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 purchasing an additional 223 shares during the last quarter. GAMMA Investing LLC lifted its stake in Allegiant Travel by 53.5% during the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after purchasing an additional 236 shares during the last quarter. Finally, Crews Bank & Trust bought a new stake in Allegiant Travel during the fourth quarter worth $25,000. 85.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ALGT shares. Barclays cut their target price on Allegiant Travel from $60.00 to $52.00 and set an “equal weight” rating for the company in a research note on Thursday. Raymond James restated a “strong-buy” rating and set a $80.00 target price (down from $90.00) on shares of Allegiant Travel in a research note on Wednesday, May 7th. Morgan Stanley upped their target price on Allegiant Travel from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. UBS Group cut their target price on Allegiant Travel from $61.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Finally, Susquehanna cut their target price on Allegiant Travel from $95.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Allegiant Travel has an average rating of “Hold” and a consensus price target of $65.20.

Allegiant Travel Stock Down 0.4%

Shares of ALGT opened at $54.39 on Monday. Allegiant Travel has a 52 week low of $36.09 and a 52 week high of $107.57. The stock has a market capitalization of $992.89 million, a price-to-earnings ratio of -4.07 and a beta of 1.78. 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 stock has a fifty day moving average of $50.57 and a 200-day moving average of $72.97.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Tuesday, May 6th. The transportation company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.27. The business had revenue of $699.07 million during the quarter, compared to the consensus estimate of $700.00 million. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. Allegiant Travel’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.57 earnings per share. As a group, sell-side analysts anticipate that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

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.