Inceptionr LLC Purchases New Shares in Allegiant Travel (NASDAQ:ALGT)

Inceptionr LLC acquired a new position in Allegiant Travel (NASDAQ:ALGT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 3,126 shares of the transportation company’s stock, valued at approximately $294,000.

Other institutional investors have also recently bought and sold shares of the company. Crews Bank & Trust bought a new position in shares of Allegiant Travel during the fourth quarter worth approximately $25,000. Jones Financial Companies Lllp grew its position in Allegiant Travel by 94.5% during the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock worth $43,000 after buying an additional 223 shares in the last quarter. GAMMA Investing LLC increased its stake in Allegiant Travel by 53.5% during the 4th quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after acquiring an additional 236 shares during the period. Mutual of America Capital Management LLC bought a new position in Allegiant Travel during the 4th quarter worth $207,000. Finally, Cornerstone Investment Partners LLC acquired a new position in Allegiant Travel in the 4th quarter valued at $254,000. Institutional investors own 85.81% of the company’s stock.

Allegiant Travel Stock Performance

NASDAQ ALGT opened at $60.76 on Monday. Allegiant Travel has a fifty-two week low of $36.09 and a fifty-two week high of $107.57. The stock has a market cap of $1.11 billion, a PE ratio of -4.54 and a beta of 1.64. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The firm’s fifty day moving average price is $90.29 and its two-hundred day moving average price is $73.17.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. On average, equities analysts expect that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ALGT shares. Barclays increased their target price on Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Morgan Stanley increased 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. UBS Group initiated coverage on shares of Allegiant Travel in a research report on Tuesday, November 26th. They issued a “neutral” rating and a $16.00 target price for the company. Raymond James increased their price target on shares of Allegiant Travel from $75.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, December 30th. Finally, StockNews.com upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $80.10.

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.