Voloridge Investment Management LLC Takes Position in Allegiant Travel (NASDAQ:ALGT)

Voloridge Investment Management LLC purchased a new stake in Allegiant Travel (NASDAQ:ALGT) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 177,568 shares of the transportation company’s stock, valued at approximately $16,713,000. Voloridge Investment Management LLC owned 0.97% of Allegiant Travel at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ALGT. Nisa Investment Advisors LLC increased its holdings in shares of Allegiant Travel by 1,614.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 9,017 shares of the transportation company’s stock valued at $849,000 after acquiring an additional 8,491 shares during the period. Crews Bank & Trust purchased a new position in shares of Allegiant Travel in the 4th quarter valued at $25,000. Empowered Funds LLC increased its holdings in shares of Allegiant Travel by 5.0% in the 4th quarter. Empowered Funds LLC now owns 84,748 shares of the transportation company’s stock valued at $7,976,000 after acquiring an additional 4,053 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Allegiant Travel by 3.1% in the 4th quarter. Principal Financial Group Inc. now owns 70,588 shares of the transportation company’s stock valued at $6,644,000 after acquiring an additional 2,133 shares during the period. Finally, Mutual of America Capital Management LLC purchased a new position in shares of Allegiant Travel in the 4th quarter valued at $207,000. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Allegiant Travel Stock Performance

Shares of ALGT opened at $52.99 on Friday. The stock has a 50-day moving average of $50.21 and a two-hundred day moving average of $72.35. Allegiant Travel has a one year low of $36.09 and a one year high of $107.57. 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 market cap of $967.33 million, a P/E ratio of -3.96 and a beta of 1.78.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings results on Tuesday, May 6th. The transportation company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.27. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. The company had revenue of $699.07 million during the quarter, compared to analysts’ expectations of $700.00 million. During the same quarter in the previous year, the firm posted $0.57 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. As a group, research analysts predict that Allegiant Travel will post 7.7 EPS for the current year.

Analysts Set New Price Targets

ALGT has been the topic of several research analyst reports. TD Cowen boosted their target price on Allegiant Travel from $35.00 to $50.00 and gave the stock a “hold” rating in a research note on Monday, May 12th. Susquehanna dropped their target price on Allegiant Travel from $95.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Morgan Stanley dropped their target price on Allegiant Travel from $93.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Monday. Barclays dropped their target price on Allegiant Travel from $60.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 8th. Finally, Bank of America dropped their target price on Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating on the stock in a research note on Thursday, April 3rd. One equities research 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $63.70.

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.