Commonwealth of Pennsylvania Public School Empls Retrmt SYS Makes New $204,000 Investment in Allegiant Travel Company $ALGT

Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Allegiant Travel Company (NASDAQ:ALGT) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,715 shares of the transportation company’s stock, valued at approximately $204,000.

Several other institutional investors have also modified their holdings of ALGT. Caitong International Asset Management Co. Ltd increased its holdings in shares of Allegiant Travel by 376.5% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,034 shares of the transportation company’s stock worth $53,000 after acquiring an additional 817 shares during the period. GAMMA Investing LLC grew its position in Allegiant Travel by 58.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,108 shares of the transportation company’s stock worth $61,000 after purchasing an additional 407 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of Allegiant Travel in the second quarter valued at approximately $205,000. FORA Capital LLC bought a new stake in shares of Allegiant Travel during the first quarter valued at approximately $259,000. Finally, AlphaQuest LLC acquired a new position in shares of Allegiant Travel during the first quarter worth approximately $272,000. Institutional investors own 85.81% of the company’s stock.

Analyst Ratings Changes

ALGT has been the topic of several analyst reports. Morgan Stanley raised their target price on Allegiant Travel from $80.00 to $85.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Susquehanna raised their price target on Allegiant Travel from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, November 14th. Evercore ISI lifted their price objective on shares of Allegiant Travel from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. Barclays increased their target price on shares of Allegiant Travel from $52.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 1st. Finally, Bank of America boosted their price target on shares of Allegiant Travel from $50.00 to $55.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $71.44.

Allegiant Travel Trading Down 4.6%

Shares of ALGT stock opened at $74.01 on Friday. The stock has a 50-day simple moving average of $64.80 and a 200 day simple moving average of $59.14. The stock has a market capitalization of $1.36 billion, a P/E ratio of -4.64, a P/E/G ratio of 0.49 and a beta of 1.77. Allegiant Travel Company has a fifty-two week low of $39.80 and a fifty-two week high of $107.57. The company has a quick ratio of 1.07, a current ratio of 1.10 and a debt-to-equity ratio of 1.68.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings results on Thursday, May 12th. The transportation company reported $1.18 earnings per share for the quarter. Allegiant Travel had a negative net margin of 11.10% and a positive return on equity of 5.00%. The company had revenue of $496.88 million during the quarter. On average, sell-side analysts expect that Allegiant Travel Company will post 7.7 earnings per share for the current fiscal year.

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.