Bank of New York Mellon Corp Sells 17,797 Shares of Allegiant Travel (NASDAQ:ALGT)

Bank of New York Mellon Corp reduced its holdings in shares of Allegiant Travel (NASDAQ:ALGT) by 11.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 137,040 shares of the transportation company’s stock after selling 17,797 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.75% of Allegiant Travel worth $12,898,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Crews Bank & Trust bought a new position in Allegiant Travel during the fourth quarter worth $25,000. GAMMA Investing LLC boosted its holdings in shares of 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 buying an additional 236 shares during the period. Stifel Financial Corp bought a new position in Allegiant Travel in the 3rd quarter valued at about $210,000. SeaCrest Wealth Management LLC lifted its position in Allegiant Travel by 3.3% during the fourth quarter. SeaCrest Wealth Management LLC now owns 6,210 shares of the transportation company’s stock worth $584,000 after acquiring an additional 200 shares during the last quarter. Finally, PEAK6 Investments LLC bought a new stake in shares of Allegiant Travel during the third quarter worth approximately $382,000. 85.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ALGT has been the subject of several research reports. UBS Group assumed coverage on Allegiant Travel in a report on Tuesday, November 26th. They set a “neutral” rating and a $16.00 price target for the company. TD Cowen lifted their target price on Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, December 17th. The Goldman Sachs Group upped their price target on shares of Allegiant Travel from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Barclays lifted their price objective on shares of Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. 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 investment 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 data from MarketBeat, the company has an average rating of “Hold” and an average price target of $80.10.

Allegiant Travel Stock Down 3.0 %

Shares of ALGT opened at $54.79 on Thursday. The firm has a 50 day simple moving average of $88.02 and a two-hundred day simple 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 has a one year low of $36.09 and a one 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.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Tuesday, February 4th. The transportation company reported $2.10 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%. Research analysts forecast that Allegiant Travel will post 7.7 EPS for the current fiscal 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.