Mutual of America Capital Management LLC Takes $207,000 Position in Allegiant Travel (NASDAQ:ALGT)

Mutual of America Capital Management LLC bought a new stake in shares of Allegiant Travel (NASDAQ:ALGT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,204 shares of the transportation company’s stock, valued at approximately $207,000.

Several other institutional investors also recently made changes to their positions in the stock. State Street Corp increased its position in Allegiant Travel by 1.7% in the 3rd quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock valued at $33,530,000 after acquiring an additional 10,050 shares during the period. Franklin Resources Inc. increased its position in Allegiant Travel by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock valued at $34,584,000 after acquiring an additional 14,852 shares during the period. Geode Capital Management LLC increased its position in Allegiant Travel by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 364,755 shares of the transportation company’s stock valued at $20,089,000 after acquiring an additional 5,424 shares during the period. Charles Schwab Investment Management Inc. increased its position in Allegiant Travel by 41.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 257,456 shares of the transportation company’s stock valued at $14,176,000 after acquiring an additional 75,486 shares during the period. Finally, Landscape Capital Management L.L.C. acquired a new stake in Allegiant Travel in the 3rd quarter valued at approximately $6,193,000. 85.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ALGT has been the topic of several analyst reports. 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. The Goldman Sachs Group raised 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. Susquehanna lifted their price target on Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Morgan Stanley lifted their price target on Allegiant Travel from $90.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, UBS Group began coverage on Allegiant Travel in a research report on Tuesday, November 26th. They set a “neutral” rating and a $16.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $80.10.

Allegiant Travel Stock Performance

ALGT opened at $55.71 on Tuesday. The firm has a market cap of $1.02 billion, a PE ratio of -4.17 and a beta of 1.64. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The business has a fifty day simple moving average of $89.56 and a 200-day simple moving average of $73.27. Allegiant Travel has a fifty-two week low of $36.09 and a fifty-two week high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 earnings per share for the quarter, topping the consensus estimate 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%. As a group, equities analysts predict that Allegiant Travel will post 7.7 EPS for the current fiscal 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.