US Bancorp DE Purchases 4,281 Shares of Allegiant Travel (NASDAQ:ALGT)

US Bancorp DE increased its stake in shares of Allegiant Travel (NASDAQ:ALGT) by 575.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,025 shares of the transportation company’s stock after buying an additional 4,281 shares during the quarter. US Bancorp DE’s holdings in Allegiant Travel were worth $473,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of ALGT. Crews Bank & Trust bought a new position in shares of Allegiant Travel in the 4th quarter valued at $25,000. GAMMA Investing LLC raised its position in shares of Allegiant Travel by 53.5% in 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 in the last quarter. Mutual of America Capital Management LLC acquired a new stake in shares of Allegiant Travel in the 4th quarter valued at about $207,000. Stifel Financial Corp acquired a new stake in shares of Allegiant Travel in the 3rd quarter valued at about $210,000. Finally, SeaCrest Wealth Management LLC boosted its stake in Allegiant Travel by 3.3% during the 4th quarter. SeaCrest Wealth Management LLC now owns 6,210 shares of the transportation company’s stock valued at $584,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ALGT. The Goldman Sachs Group lifted their price target on Allegiant Travel from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Raymond James boosted their target price on shares of Allegiant Travel from $75.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, December 30th. Bank of America boosted their price target on shares of Allegiant Travel from $54.00 to $95.00 and gave the company an “underperform” rating in a research report on Friday, January 17th. TD Cowen upped their target price on shares of Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, December 17th. Finally, Barclays upped their price target on shares of Allegiant Travel from $85.00 to $100.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Allegiant Travel currently has a consensus rating of “Hold” and a consensus price target of $80.10.

Allegiant Travel Price Performance

ALGT stock opened at $54.79 on Thursday. Allegiant Travel has a 1 year low of $36.09 and a 1 year high of $107.57. The company has a market cap of $1.00 billion, a P/E ratio of -4.10 and a beta of 1.64. The firm has a 50-day moving average of $88.02 and a 200 day moving average of $73.22. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72.

Allegiant Travel (NASDAQ:ALGT) last released its earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $1.62. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. On average, sell-side analysts forecast that Allegiant Travel 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.