Geode Capital Management LLC Cuts Stake in Allegiant Travel (NASDAQ:ALGT)

Geode Capital Management LLC cut its holdings in Allegiant Travel (NASDAQ:ALGT) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 363,101 shares of the transportation company’s stock after selling 1,654 shares during the quarter. Geode Capital Management LLC owned approximately 1.98% of Allegiant Travel worth $34,182,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALGT. Crews Bank & Trust purchased a new position in shares of Allegiant Travel in the fourth quarter worth about $25,000. Jones Financial Companies Lllp boosted its position in shares of Allegiant Travel by 94.5% during the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock valued at $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 worth $56,000 after purchasing an additional 138 shares during the period. GAMMA Investing LLC grew its stake in shares of Allegiant Travel by 53.5% in the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock valued at $64,000 after buying an additional 236 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Allegiant Travel during the 4th quarter worth approximately $75,000. 85.81% of the stock is currently owned by institutional investors.

Allegiant Travel Trading Down 3.8 %

Shares of ALGT stock opened at $43.38 on Thursday. The stock’s fifty day simple moving average is $61.64 and its 200 day simple moving average is $74.15. The firm has a market capitalization of $795.50 million, a P/E ratio of -3.24 and a beta of 1.57. Allegiant Travel has a twelve month low of $36.09 and a twelve 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.

Allegiant Travel (NASDAQ:ALGT) last released its earnings results on Tuesday, February 4th. The transportation company reported $2.10 EPS for the quarter, topping the consensus estimate of $0.48 by $1.62. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. As a group, sell-side analysts predict that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Susquehanna reduced their price target on shares of Allegiant Travel from $95.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Barclays cut their price target on Allegiant Travel from $100.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Morgan Stanley boosted 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. The Goldman Sachs Group lifted their price target 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. Finally, Raymond James raised shares of Allegiant Travel from an “outperform” rating to a “strong-buy” rating and cut their target price for the stock from $125.00 to $90.00 in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $67.00.

Allegiant Travel 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.