Illinois Municipal Retirement Fund Cuts Stock Holdings in Allegiant Travel (NASDAQ:ALGT)

Illinois Municipal Retirement Fund lowered its stake in Allegiant Travel (NASDAQ:ALGT) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,346 shares of the transportation company’s stock after selling 379 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Allegiant Travel were worth $691,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ALGT. State Street Corp increased its holdings in shares of Allegiant Travel by 1.7% in the third quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock worth $33,530,000 after purchasing an additional 10,050 shares during the last quarter. Franklin Resources Inc. grew its holdings in Allegiant Travel by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock valued at $34,584,000 after buying an additional 14,852 shares in the last quarter. Geode Capital Management LLC grew its holdings in Allegiant Travel by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 364,755 shares of the transportation company’s stock valued at $20,089,000 after buying an additional 5,424 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake 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 worth $14,176,000 after acquiring an additional 75,486 shares during the last quarter. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of Allegiant Travel during the 3rd quarter worth approximately $6,193,000. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ALGT. Wolfe Research cut shares of Allegiant Travel from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Barclays boosted their target price on shares of Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. UBS Group assumed coverage on shares of Allegiant Travel in a research report on Tuesday, November 26th. They set a “neutral” rating and a $16.00 target price on the stock. StockNews.com upgraded Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. Finally, Susquehanna upped their price objective on Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Allegiant Travel currently has a consensus rating of “Hold” and an average target price of $80.10.

Allegiant Travel Trading Down 5.5 %

Shares of NASDAQ ALGT opened at $69.48 on Tuesday. Allegiant Travel has a fifty-two week low of $36.09 and a fifty-two week high of $107.57. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -5.20 and a beta of 1.63. The business’s 50 day moving average price is $92.51 and its 200-day moving average price is $72.52.

Allegiant Travel (NASDAQ:ALGT) last released its earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share 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%. On average, sell-side analysts expect that Allegiant Travel will post 7.7 earnings per share for the current 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.