Envestnet Asset Management Inc. Makes New Investment in Allegiant Travel Company $ALGT

Envestnet Asset Management Inc. purchased a new stake in shares of Allegiant Travel Company (NASDAQ:ALGT) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,723 shares of the transportation company’s stock, valued at approximately $205,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. SummerHaven Investment Management LLC raised its stake in Allegiant Travel by 2.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 17,275 shares of the transportation company’s stock valued at $949,000 after acquiring an additional 338 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Allegiant Travel by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,202 shares of the transportation company’s stock valued at $475,000 after purchasing an additional 394 shares during the period. Inspire Investing LLC raised its stake in shares of Allegiant Travel by 6.0% during the second quarter. Inspire Investing LLC now owns 7,094 shares of the transportation company’s stock valued at $390,000 after purchasing an additional 400 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Allegiant Travel by 58.1% in the second 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 period. Finally, State of Alaska Department of Revenue grew its position in Allegiant Travel by 6.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 8,619 shares of the transportation company’s stock valued at $473,000 after buying an additional 560 shares in the last quarter. 85.81% of the stock is owned by institutional investors.

Allegiant Travel Trading Down 4.6%

Allegiant Travel stock opened at $74.01 on Friday. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -4.64, a price-to-earnings-growth ratio of 0.49 and a beta of 1.77. Allegiant Travel Company has a 1 year low of $39.80 and a 1 year high of $107.57. The firm’s 50 day moving average price is $64.80 and its two-hundred day moving average price is $59.14. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.07 and a current ratio of 1.10.

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

Analyst Upgrades and Downgrades

A number of analysts have commented on ALGT shares. Morgan Stanley boosted their price target on shares of Allegiant Travel from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Bank of America boosted their target price on Allegiant Travel from $50.00 to $55.00 and gave the stock an “underperform” rating in a report on Wednesday, October 1st. Susquehanna increased their price target on Allegiant Travel from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, November 14th. UBS Group lifted their price target on Allegiant Travel from $65.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Finally, Zacks Research upgraded Allegiant Travel from a “strong sell” rating to a “hold” rating in a report on Thursday, September 4th. One investment 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $71.44.

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.