Sei Investments Co. Increases Position in Allegiant Travel (NASDAQ:ALGT)

Sei Investments Co. grew its position in shares of Allegiant Travel (NASDAQ:ALGT) by 68.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,908 shares of the transportation company’s stock after purchasing an additional 7,657 shares during the period. Sei Investments Co.’s holdings in Allegiant Travel were worth $1,780,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crews Bank & Trust bought a new stake in Allegiant Travel in the 4th quarter worth approximately $25,000. Jones Financial Companies Lllp lifted its holdings in shares of Allegiant Travel by 94.5% in the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock worth $43,000 after acquiring an additional 223 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Allegiant Travel by 30.3% during the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock valued at $56,000 after purchasing an additional 138 shares during the last quarter. GAMMA Investing LLC raised its position in Allegiant Travel by 53.5% in the 4th quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after purchasing an additional 236 shares during the period. Finally, Blueshift Asset Management LLC bought a new stake in Allegiant Travel in the fourth quarter worth $205,000. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Allegiant Travel Stock Performance

Shares of Allegiant Travel stock opened at $46.55 on Friday. Allegiant Travel has a 1 year low of $36.09 and a 1 year high of $107.57. The firm’s 50-day moving average is $72.05 and its 200 day moving average is $74.62. The stock has a market cap of $853.63 million, a price-to-earnings ratio of -3.48 and a beta of 1.57. 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 (NASDAQ:ALGT) last issued its earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, topping 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 anticipate that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Analysts Set New Price Targets

ALGT has been the topic of several recent research reports. UBS Group reduced their price target on Allegiant Travel from $93.00 to $61.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. Barclays increased their price target on shares of Allegiant Travel from $85.00 to $100.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Raymond James upgraded shares of Allegiant Travel from an “outperform” rating to a “strong-buy” rating and decreased their price objective for the company from $125.00 to $90.00 in a research report on Wednesday. Bank of America cut their target price on Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating on the stock in a research note on Thursday. Finally, StockNews.com raised Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Allegiant Travel has an average rating of “Hold” and an average price target of $78.10.

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.