Clearbridge Investments LLC Trims Stock Holdings in Allegiant Travel (NASDAQ:ALGT)

Clearbridge Investments LLC lowered its position in shares of Allegiant Travel (NASDAQ:ALGT) by 28.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 192,567 shares of the transportation company’s stock after selling 78,385 shares during the quarter. Clearbridge Investments LLC’s holdings in Allegiant Travel were worth $18,124,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Crews Bank & Trust acquired a new stake in shares of Allegiant Travel during the fourth quarter worth about $25,000. Jones Financial Companies Lllp lifted its stake in Allegiant Travel by 94.5% during the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock valued at $43,000 after acquiring an additional 223 shares during the period. Signaturefd LLC boosted 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 last quarter. GAMMA Investing LLC increased its stake in shares of Allegiant Travel by 53.5% in the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after acquiring an additional 236 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Allegiant Travel during the fourth quarter worth $75,000. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Allegiant Travel Stock Up 9.0 %

Shares of NASDAQ ALGT opened at $55.45 on Thursday. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -4.15 and a beta of 1.64. The company’s 50-day simple moving average is $74.24 and its 200-day simple moving average is $74.54. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. Allegiant Travel has a 52-week low of $36.09 and a 52-week high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data 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 positive return on equity of 3.33% and a negative net margin of 9.56%. Equities analysts predict that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ALGT shares. UBS Group cut their price target on Allegiant Travel from $93.00 to $61.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. Susquehanna lifted their price target on Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Barclays upped their price objective on Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. TD Cowen lifted their target price 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. Finally, Bank of America increased their price target on shares of Allegiant Travel from $54.00 to $95.00 and gave the stock an “underperform” rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $82.60.

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.