Emerald Advisers LLC Makes New $22.26 Million Investment in Allegiant Travel (NASDAQ:ALGT)

Emerald Advisers LLC purchased a new position in shares of Allegiant Travel (NASDAQ:ALGT) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 236,460 shares of the transportation company’s stock, valued at approximately $22,256,000. Emerald Advisers LLC owned 1.29% of Allegiant Travel as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in shares of Allegiant Travel by 41.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 257,456 shares of the transportation company’s stock worth $14,176,000 after acquiring an additional 75,486 shares in the last quarter. American Century Companies Inc. grew its holdings in Allegiant Travel by 14.8% during the 4th quarter. American Century Companies Inc. now owns 564,326 shares of the transportation company’s stock valued at $53,114,000 after purchasing an additional 72,759 shares in the last quarter. Barclays PLC grew its holdings in Allegiant Travel by 136.9% during the 3rd quarter. Barclays PLC now owns 31,876 shares of the transportation company’s stock worth $1,755,000 after acquiring an additional 18,421 shares in the last quarter. Paloma Partners Management Co acquired a new position in Allegiant Travel during the 3rd quarter worth $1,004,000. Finally, Franklin Resources Inc. grew its holdings 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 in the last quarter. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ALGT. Morgan Stanley raised their price target on shares of Allegiant Travel from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Barclays boosted their price target 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. The Goldman Sachs Group lifted 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. UBS Group lowered their price objective on shares of Allegiant Travel from $93.00 to $61.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, StockNews.com raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Allegiant Travel has an average rating of “Hold” and an average target price of $84.60.

Allegiant Travel Price Performance

Shares of Allegiant Travel stock opened at $54.96 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. Allegiant Travel has a fifty-two week low of $36.09 and a fifty-two week high of $107.57. The firm has a fifty day moving average price of $81.94 and a two-hundred day moving average price of $73.80. The company has a market cap of $1.01 billion, a PE ratio of -4.11 and a beta of 1.64.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Analysts expect 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.