Marshall Wace LLP Grows Stake in Allegiant Travel (NASDAQ:ALGT)

Marshall Wace LLP boosted its position in Allegiant Travel (NASDAQ:ALGT) by 89.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,010 shares of the transportation company’s stock after purchasing an additional 5,209 shares during the period. Marshall Wace LLP owned about 0.06% of Allegiant Travel worth $1,036,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its stake 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 purchasing an additional 8,491 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Allegiant Travel by 1,486.7% during the 4th quarter. Russell Investments Group Ltd. now owns 1,904 shares of the transportation company’s stock valued at $179,000 after buying an additional 1,784 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Allegiant Travel by 18.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 304,642 shares of the transportation company’s stock worth $28,673,000 after buying an additional 47,186 shares in the last quarter. US Bancorp DE raised its holdings in shares of Allegiant Travel by 575.4% in the fourth quarter. US Bancorp DE now owns 5,025 shares of the transportation company’s stock worth $473,000 after acquiring an additional 4,281 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Allegiant Travel in the fourth quarter valued at $383,000. 85.81% of the stock is owned by hedge funds and other institutional investors.

Allegiant Travel Stock Up 1.6 %

ALGT opened at $46.58 on Wednesday. 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 has a 1 year low of $36.09 and a 1 year high of $107.57. The firm has a 50 day moving average price of $54.41 and a 200 day moving average price of $73.55. The company has a market cap of $854.18 million, a PE ratio of -3.48 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 earnings per share (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%. Sell-side analysts expect that Allegiant Travel will post 7.7 earnings per share for the current year.

Wall Street Analyst Weigh In

ALGT has been the subject of several analyst reports. Raymond James raised shares of Allegiant Travel from an “outperform” rating to a “strong-buy” rating and cut their target price for the company from $125.00 to $90.00 in a research note on Wednesday, April 2nd. The Goldman Sachs Group upped their target price on shares of Allegiant Travel from $83.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Susquehanna reduced their target price on shares of Allegiant Travel from $95.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. UBS Group reduced their target price on shares of Allegiant Travel from $61.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Finally, Bank of America reduced their target price on shares of Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating on the stock in a report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Allegiant Travel currently has a consensus rating of “Hold” and an average price target 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.