Sterling Capital Management LLC Buys 442 Shares of Allegiant Travel (NASDAQ:ALGT)

Sterling Capital Management LLC grew its stake in Allegiant Travel (NASDAQ:ALGT) by 803.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 497 shares of the transportation company’s stock after purchasing an additional 442 shares during the quarter. Sterling Capital Management LLC’s holdings in Allegiant Travel were worth $47,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ALGT. Nisa Investment Advisors LLC raised its holdings in Allegiant Travel by 1,614.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 9,017 shares of the transportation company’s stock valued at $849,000 after acquiring an additional 8,491 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Allegiant Travel by 18.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 304,642 shares of the transportation company’s stock valued at $28,673,000 after purchasing an additional 47,186 shares during the last quarter. US Bancorp DE increased its stake in shares of Allegiant Travel by 575.4% during the fourth quarter. US Bancorp DE now owns 5,025 shares of the transportation company’s stock worth $473,000 after purchasing an additional 4,281 shares during the period. Raymond James Financial Inc. acquired a new stake in Allegiant Travel during the 4th quarter worth approximately $383,000. Finally, Geode Capital Management LLC boosted its stake in Allegiant Travel by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 364,755 shares of the transportation company’s stock valued at $20,089,000 after purchasing an additional 5,424 shares during the period. Institutional investors and hedge funds own 85.81% of the company’s stock.

Allegiant Travel Stock Performance

Allegiant Travel stock opened at $46.97 on Friday. The business’s 50-day moving average price is $56.78 and its two-hundred day moving average price is $73.65. Allegiant Travel has a 12-month low of $36.09 and a 12-month high of $107.57. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The stock has a market cap of $861.34 million, a PE ratio of -3.51 and a beta of 1.57.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data 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%. As a group, analysts expect that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

ALGT has been the topic of several recent research reports. Bank of America lowered their price objective on Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating on the stock in a research report on Thursday, April 3rd. Morgan Stanley lifted their price objective on shares of Allegiant Travel from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Susquehanna decreased their target price on shares of Allegiant Travel from $95.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. The Goldman Sachs Group lifted their price target on shares of Allegiant Travel from $83.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Finally, StockNews.com upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $67.00.

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.