Drive Wealth Management LLC Buys Shares of 7,871 Allegiant Travel Company $ALGT

Drive Wealth Management LLC bought a new position in shares of Allegiant Travel Company (NASDAQ:ALGT) during the second quarter, HoldingsChannel.com reports. The firm bought 7,871 shares of the transportation company’s stock, valued at approximately $433,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Donald Smith & CO. Inc. raised its position in shares of Allegiant Travel by 32.6% in the 1st quarter. Donald Smith & CO. Inc. now owns 1,350,447 shares of the transportation company’s stock valued at $69,751,000 after acquiring an additional 331,998 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in Allegiant Travel by 5.8% in the first quarter. T. Rowe Price Investment Management Inc. now owns 982,962 shares of the transportation company’s stock valued at $50,770,000 after purchasing an additional 54,321 shares in the last quarter. American Century Companies Inc. raised its holdings in Allegiant Travel by 12.3% in the first quarter. American Century Companies Inc. now owns 633,608 shares of the transportation company’s stock worth $32,726,000 after purchasing an additional 69,282 shares during the period. U S Global Investors Inc. raised its holdings in Allegiant Travel by 4.3% in the second quarter. U S Global Investors Inc. now owns 430,153 shares of the transportation company’s stock worth $23,637,000 after purchasing an additional 17,753 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Allegiant Travel by 40.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 389,832 shares of the transportation company’s stock worth $20,135,000 after purchasing an additional 112,875 shares in the last quarter. 85.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Allegiant Travel in a research report on Wednesday, October 8th. UBS Group increased their price target on Allegiant Travel from $52.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, September 26th. Susquehanna raised their price target on Allegiant Travel from $50.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Barclays lifted their price objective on Allegiant Travel from $52.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday, October 1st. Finally, Evercore ISI increased their target price on Allegiant Travel from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Allegiant Travel currently has a consensus rating of “Hold” and an average target price of $70.56.

Allegiant Travel Stock Up 3.1%

ALGT stock opened at $65.91 on Tuesday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.10 and a quick ratio of 1.07. The stock has a market capitalization of $1.21 billion, a P/E ratio of -4.13, a P/E/G ratio of 0.50 and a beta of 1.71. Allegiant Travel Company has a fifty-two week low of $39.80 and a fifty-two week high of $107.57. The business has a 50-day moving average of $61.74 and a 200-day moving average of $55.28.

Allegiant Travel (NASDAQ:ALGT) last released its earnings results on Thursday, May 12th. The transportation company reported $1.18 EPS for the quarter. The firm had revenue of $496.88 million for the quarter. Allegiant Travel had a positive return on equity of 5.00% and a negative net margin of 11.10%. On average, sell-side analysts anticipate that Allegiant Travel Company will post 7.7 earnings per share for the current fiscal year.

Allegiant Travel Company 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.