Commonwealth of Pennsylvania Public School Empls Retrmt SYS Makes New Investment in Allegiant Travel (NASDAQ:ALGT)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Allegiant Travel (NASDAQ:ALGT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,105 shares of the transportation company’s stock, valued at approximately $292,000.

A number of other large investors have also modified their holdings of ALGT. Charles Schwab Investment Management Inc. grew its position in Allegiant Travel by 41.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 257,456 shares of the transportation company’s stock worth $14,176,000 after purchasing an additional 75,486 shares during the last quarter. Barclays PLC increased its position in Allegiant Travel by 136.9% in the 3rd quarter. Barclays PLC now owns 31,876 shares of the transportation company’s stock valued at $1,755,000 after acquiring an additional 18,421 shares during the period. Paloma Partners Management Co bought a new stake in Allegiant Travel during the 3rd quarter valued at $1,004,000. Franklin Resources Inc. boosted its position in Allegiant Travel by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock worth $34,584,000 after acquiring an additional 14,852 shares during the period. Finally, Algert Global LLC bought a new position in shares of Allegiant Travel in the third quarter worth $579,000. Institutional investors and hedge funds own 85.81% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ALGT. StockNews.com raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. Morgan Stanley increased 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. The Goldman Sachs Group boosted their target price on Allegiant Travel from $83.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Raymond James lifted their price target on Allegiant Travel from $75.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, December 30th. Finally, Susquehanna upped their price objective on Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $84.60.

Allegiant Travel Price Performance

NASDAQ ALGT opened at $54.90 on Friday. Allegiant Travel has a twelve month low of $36.09 and a twelve month high of $107.57. The stock has a market capitalization of $1.01 billion, a PE ratio of -4.11 and a beta of 1.64. The stock has a 50-day simple moving average of $78.33 and a 200 day simple moving average of $73.99. 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 (NASDAQ:ALGT) last released its earnings results on Tuesday, February 4th. The transportation company reported $2.10 EPS for the quarter, beating 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%. Research analysts anticipate that Allegiant Travel will post 7.7 EPS for the current 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.