Donald Smith & CO. Inc. Purchases 24,975 Shares of Allegiant Travel (NASDAQ:ALGT)

Donald Smith & CO. Inc. lifted its position in Allegiant Travel (NASDAQ:ALGT) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,018,449 shares of the transportation company’s stock after acquiring an additional 24,975 shares during the quarter. Allegiant Travel accounts for approximately 2.3% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 17th largest holding. Donald Smith & CO. Inc. owned approximately 5.55% of Allegiant Travel worth $95,856,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALGT. Crews Bank & Trust acquired a new stake in Allegiant Travel in the 4th quarter worth approximately $25,000. Jones Financial Companies Lllp increased its holdings in shares of Allegiant Travel by 94.5% in the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 223 shares during the period. Signaturefd LLC raised its stake in shares of Allegiant Travel by 30.3% in the fourth quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock worth $56,000 after purchasing an additional 138 shares during the last quarter. GAMMA Investing LLC boosted its position in Allegiant Travel by 53.5% in the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock valued at $64,000 after buying an additional 236 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Allegiant Travel during the 4th quarter worth approximately $75,000. 85.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ALGT shares. Bank of America increased their price objective on shares of Allegiant Travel from $54.00 to $95.00 and gave the stock an “underperform” rating in a research note on Friday, January 17th. Susquehanna raised their price target on shares of Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Barclays raised their target price on Allegiant Travel from $85.00 to $100.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. StockNews.com raised Allegiant Travel from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th. Finally, The Goldman Sachs Group increased their target price on Allegiant Travel from $83.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $82.60.

Allegiant Travel Price Performance

Shares of ALGT stock opened at $55.45 on Thursday. The firm’s 50-day moving average is $74.24 and its two-hundred day moving average is $74.54. Allegiant Travel has a 12 month low of $36.09 and a 12 month high of $107.57. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The company has a market capitalization of $1.02 billion, a PE ratio of -4.15 and a beta of 1.64.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Tuesday, February 4th. The transportation company reported $2.10 EPS for the quarter, beating 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%. Analysts predict 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.