Man Group plc Purchases New Stake in Allegiant Travel (NASDAQ:ALGT)

Man Group plc acquired a new position in Allegiant Travel (NASDAQ:ALGT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 91,782 shares of the transportation company’s stock, valued at approximately $8,639,000. Man Group plc owned approximately 0.50% of Allegiant Travel as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Signaturefd LLC increased its holdings in shares of Allegiant Travel by 30.3% in the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock valued at $56,000 after purchasing an additional 138 shares in the last quarter. Jones Financial Companies Lllp grew its position in Allegiant Travel by 94.5% during the fourth 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. Crews Bank & Trust purchased a new position in Allegiant Travel in the fourth quarter valued at about $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Allegiant Travel by 3.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,808 shares of the transportation company’s stock valued at $829,000 after acquiring an additional 292 shares during the period. Finally, Legal & General Group Plc grew its holdings in shares of Allegiant Travel by 1.1% in the 4th quarter. Legal & General Group Plc now owns 31,767 shares of the transportation company’s stock worth $2,990,000 after acquiring an additional 348 shares during the period. Institutional investors and hedge funds own 85.81% of the company’s stock.

Allegiant Travel Trading Up 1.6%

Shares of ALGT stock opened at $56.13 on Monday. The firm’s 50-day simple moving average is $50.25 and its 200-day simple moving average is $72.76. 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 1-year low of $36.09 and a 1-year high of $107.57. The firm has a market cap of $1.02 billion, a P/E ratio of -4.20 and a beta of 1.78.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings results on Tuesday, May 6th. The transportation company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.27. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. The company had revenue of $699.07 million for the quarter, compared to analyst estimates of $700.00 million. During the same quarter last year, the business earned $0.57 EPS. Allegiant Travel’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities analysts forecast that Allegiant Travel will post 7.7 EPS for the current year.

Wall Street Analysts Forecast Growth

ALGT has been the subject of several research reports. TD Cowen lifted their price objective on Allegiant Travel from $35.00 to $50.00 and gave the stock a “hold” rating in a report on Monday, May 12th. Raymond James reiterated a “strong-buy” rating and issued a $80.00 price objective (down from $90.00) on shares of Allegiant Travel in a research report on Wednesday, May 7th. Susquehanna dropped their target price on shares of Allegiant Travel from $95.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, April 7th. UBS Group lifted their target price on shares of Allegiant Travel from $45.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 13th. Finally, Barclays lowered their price target on shares of Allegiant Travel from $60.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $64.70.

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.