Federated Hermes Inc. Purchases 24,557 Shares of Allegiant Travel Company $ALGT

Federated Hermes Inc. boosted its holdings in shares of Allegiant Travel Company (NASDAQ:ALGT) by 12.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 215,531 shares of the transportation company’s stock after buying an additional 24,557 shares during the period. Federated Hermes Inc. owned approximately 1.17% of Allegiant Travel worth $11,843,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC raised its holdings in shares of Allegiant Travel by 28.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 930 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 205 shares in the last quarter. SummerHaven Investment Management LLC increased its position in shares of Allegiant Travel by 2.0% in the second quarter. SummerHaven Investment Management LLC now owns 17,275 shares of the transportation company’s stock worth $949,000 after purchasing an additional 338 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Allegiant Travel by 4.5% in 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 in the last quarter. Inspire Investing LLC raised its stake in Allegiant Travel by 6.0% in 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. Finally, GAMMA Investing LLC lifted its position in Allegiant Travel by 58.1% during the second quarter. GAMMA Investing LLC now owns 1,108 shares of the transportation company’s stock valued at $61,000 after purchasing an additional 407 shares during the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ALGT shares. Evercore ISI increased their price target on shares of Allegiant Travel from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, September 29th. UBS Group upped their target price on shares of Allegiant Travel from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Barclays increased their target price on Allegiant Travel from $52.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 1st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Allegiant Travel in a research note on Wednesday, October 8th. Finally, Susquehanna upped their price objective on Allegiant Travel from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $73.10.

Allegiant Travel Stock Performance

NASDAQ ALGT opened at $82.50 on Thursday. The company has a 50-day simple moving average of $67.91 and a two-hundred day simple moving average of $60.60. Allegiant Travel Company has a 12-month low of $39.80 and a 12-month high of $107.57. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -5.06, a PEG ratio of 0.56 and a beta of 1.67. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 1.76.

Allegiant Travel (NASDAQ:ALGT) last released its earnings results on Thursday, May 12th. The transportation company reported $1.18 earnings per share for the quarter. The company had revenue of $496.88 million during the quarter. Allegiant Travel had a positive return on equity of 5.24% and a negative net margin of 11.36%. On average, equities analysts forecast that Allegiant Travel Company will post 7.7 EPS for the current year.

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.