Allegiant Travel Company $ALGT Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC raised its stake in shares of Allegiant Travel Company (NASDAQ:ALGT) by 40.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 91,000 shares of the transportation company’s stock after acquiring an additional 26,400 shares during the quarter. Renaissance Technologies LLC owned approximately 0.49% of Allegiant Travel worth $7,375,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ALGT. Balyasny Asset Management L.P. acquired a new stake in shares of Allegiant Travel in the 4th quarter valued at about $16,405,000. Assenagon Asset Management S.A. bought a new stake in Allegiant Travel in the first quarter valued at about $11,781,000. Principal Financial Group Inc. increased its holdings in Allegiant Travel by 151.1% in the first quarter. Principal Financial Group Inc. now owns 161,227 shares of the transportation company’s stock valued at $13,066,000 after buying an additional 97,010 shares during the last quarter. Franklin Resources Inc. raised its stake in Allegiant Travel by 15.4% during the third quarter. Franklin Resources Inc. now owns 549,287 shares of the transportation company’s stock valued at $33,380,000 after buying an additional 73,360 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Allegiant Travel by 148.1% during the second quarter. Bank of America Corp DE now owns 118,896 shares of the transportation company’s stock valued at $6,533,000 after buying an additional 70,982 shares in the last quarter. Institutional investors own 85.81% of the company’s stock.

Allegiant Travel Stock Up 5.5%

Allegiant Travel stock opened at $103.48 on Tuesday. The company has a 50-day simple moving average of $100.18 and a 200-day simple moving average of $92.22. The firm has a market capitalization of $1.91 billion, a P/E ratio of -51.74, a P/E/G ratio of 0.25 and a beta of 1.53. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.87 and a current ratio of 0.91. Allegiant Travel Company has a one year low of $42.56 and a one year high of $123.63.

Wall Street Analyst Weigh In

A number of research firms have commented on ALGT. JPMorgan Chase & Co. began coverage on shares of Allegiant Travel in a report on Wednesday, July 1st. They issued an “overweight” rating and a $156.00 price objective for the company. Morgan Stanley increased their target price on shares of Allegiant Travel from $100.00 to $115.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. UBS Group raised shares of Allegiant Travel from a “hold” rating to a “buy” rating in a report on Wednesday, July 8th. Citigroup upgraded shares of Allegiant Travel from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $98.00 to $156.00 in a research note on Friday, June 26th. Finally, Susquehanna lifted their target price on Allegiant Travel from $85.00 to $132.00 and gave the company a “neutral” rating in a research note on Tuesday, July 7th. Ten equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Allegiant Travel presently has an average rating of “Moderate Buy” and a consensus price target of $128.08.

Allegiant Travel Company Profile

Allegiant Travel Company is a holding company that operates Allegiant Air, a low‐cost leisure airline offering scheduled and charter air service. The company focuses on connecting underserved secondary markets with popular vacation destinations across the United States. By targeting price‐sensitive leisure travelers, Allegiant Air operates a point‐to‐point network that avoids the traditional hub‐and‐spoke model, providing non‐stop flights from smaller cities to resort and entertainment hubs.

In addition to its core flight operations, Allegiant Travel Company offers packaged travel services that include hotel accommodations, rental cars and attraction tickets through its online portal.