Commonwealth of Pennsylvania Public School Empls Retrmt SYS Takes $204,000 Position in Allegiant Travel Company $ALGT

Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Allegiant Travel Company (NASDAQ:ALGT) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,715 shares of the transportation company’s stock, valued at approximately $204,000.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ALGT shares. UBS Group boosted their target price on shares of Allegiant Travel from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Zacks Research raised Allegiant Travel from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 4th. Susquehanna increased their price objective on Allegiant Travel from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, November 14th. Barclays lifted 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. Finally, Bank of America upped their target price on Allegiant Travel from $50.00 to $55.00 and gave the company an “underperform” rating in a report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $71.44.

Allegiant Travel Stock Performance

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

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly 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 5.00% and a negative net margin of 11.10%. Analysts anticipate 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.