Clearbridge Investments LLC Sells 78,385 Shares of Allegiant Travel (NASDAQ:ALGT)

Clearbridge Investments LLC lessened its position in Allegiant Travel (NASDAQ:ALGT) by 28.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 192,567 shares of the transportation company’s stock after selling 78,385 shares during the quarter. Clearbridge Investments LLC owned 1.05% of Allegiant Travel worth $18,124,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ALGT. Crews Bank & Trust purchased a new stake in Allegiant Travel in the fourth quarter worth $25,000. Jones Financial Companies Lllp increased its stake in Allegiant Travel by 94.5% in the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock worth $43,000 after buying an additional 223 shares during the period. Signaturefd LLC lifted its holdings in Allegiant Travel by 30.3% during the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock valued at $56,000 after buying an additional 138 shares in the last quarter. GAMMA Investing LLC boosted its position in Allegiant Travel by 53.5% in the 4th 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 period. Finally, KLP Kapitalforvaltning AS bought a new position in Allegiant Travel in the 4th quarter worth about $75,000. 85.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. UBS Group lowered their price target on Allegiant Travel from $93.00 to $61.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. Raymond James raised Allegiant Travel from an “outperform” rating to a “strong-buy” rating and dropped their price target for the stock from $125.00 to $90.00 in a research report on Wednesday. The Goldman Sachs Group lifted their price objective on Allegiant Travel from $83.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Morgan Stanley raised their target price on shares of 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, TD Cowen upped their price target 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $82.60.

Allegiant Travel Price Performance

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

Allegiant Travel (NASDAQ:ALGT) last announced 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 positive return on equity of 3.33% and a negative net margin of 9.56%. 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.