Meeder Asset Management Inc. Purchases New Position in Allegiant Travel (NASDAQ:ALGT)

Meeder Asset Management Inc. acquired a new position in Allegiant Travel (NASDAQ:ALGT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,777 shares of the transportation company’s stock, valued at approximately $450,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALGT. Intech Investment Management LLC acquired a new position in shares of Allegiant Travel during the 3rd quarter worth $450,000. Charles Schwab Investment Management Inc. increased its position in Allegiant Travel by 41.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 257,456 shares of the transportation company’s stock worth $14,176,000 after buying an additional 75,486 shares during the last quarter. PEAK6 Investments LLC bought a new position in Allegiant Travel during the third quarter valued at about $382,000. Paloma Partners Management Co acquired a new stake in shares of Allegiant Travel in the third quarter worth about $1,004,000. Finally, Hauser Brothers GmbH lifted its position in shares of Allegiant Travel by 73.0% in the third quarter. Hauser Brothers GmbH now owns 23,700 shares of the transportation company’s stock worth $1,305,000 after buying an additional 10,000 shares during the last quarter. Institutional investors own 85.81% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on ALGT. Morgan Stanley raised their price objective on Allegiant Travel from $90.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. The Goldman Sachs Group boosted their price objective on shares of Allegiant Travel from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Raymond James raised their target price on shares of Allegiant Travel from $75.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, December 30th. Barclays boosted their target price on shares of Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Finally, Bank of America raised their price target on Allegiant Travel from $54.00 to $95.00 and gave the company an “underperform” rating in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Allegiant Travel has a consensus rating of “Hold” and an average price target of $84.60.

Allegiant Travel Stock Down 3.0 %

NASDAQ ALGT opened at $51.65 on Tuesday. Allegiant Travel has a twelve month low of $36.09 and a twelve month high of $107.57. The stock has a market cap of $947.16 million, a PE ratio of -3.86 and a beta of 1.64. The firm has a 50-day simple moving average of $76.30 and a 200 day simple moving average of $74.61. 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 announced its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates 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%. On average, research analysts forecast that Allegiant Travel will post 7.7 EPS for the current year.

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.