Wells Fargo & Company MN Boosts Holdings in Allegiant Travel (NASDAQ:ALGT)

Wells Fargo & Company MN grew its position in Allegiant Travel (NASDAQ:ALGT) by 22.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,184 shares of the transportation company’s stock after purchasing an additional 2,059 shares during the quarter. Wells Fargo & Company MN owned about 0.06% of Allegiant Travel worth $1,053,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Crews Bank & Trust purchased a new position in Allegiant Travel during the 4th quarter worth $25,000. Jones Financial Companies Lllp boosted its holdings in Allegiant Travel by 94.5% in the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock worth $43,000 after acquiring an additional 223 shares in the last quarter. Signaturefd LLC grew its stake in shares of Allegiant Travel by 30.3% during the fourth quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock worth $56,000 after acquiring an additional 138 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Allegiant Travel by 53.5% during the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock valued at $64,000 after acquiring an additional 236 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Allegiant Travel in the 4th quarter valued at approximately $75,000. 85.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALGT has been the topic of a number of recent analyst reports. Raymond James upgraded shares of Allegiant Travel from an “outperform” rating to a “strong-buy” rating and cut their price target for the company from $125.00 to $90.00 in a research note on Wednesday, April 2nd. The Goldman Sachs Group raised their target price on Allegiant Travel from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. StockNews.com raised Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. Susquehanna cut their price objective on Allegiant Travel from $95.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Finally, Bank of America decreased their target price on Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating for the company in a report on Thursday, April 3rd. One 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’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $67.00.

Allegiant Travel Stock Performance

ALGT opened at $46.58 on Wednesday. The firm has a fifty day moving average price of $54.41 and a 200 day moving average price of $73.55. Allegiant Travel has a 1 year low of $36.09 and a 1 year high of $107.57. The stock has a market cap of $854.18 million, a P/E 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 quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Equities research analysts anticipate that Allegiant Travel will post 7.7 earnings per share for the current year.

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.