Meeder Asset Management Inc. Acquires Shares of 4,777 Allegiant Travel (NASDAQ:ALGT)

Meeder Asset Management Inc. bought a new position in Allegiant Travel (NASDAQ:ALGT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,777 shares of the transportation company’s stock, valued at approximately $450,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Crews Bank & Trust bought a new stake in Allegiant Travel in the fourth quarter valued at $25,000. Jones Financial Companies Lllp boosted its stake in shares of Allegiant Travel by 94.5% in the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 223 shares in the last quarter. Signaturefd LLC grew 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 worth $56,000 after purchasing an additional 138 shares during the last quarter. GAMMA Investing LLC increased its position 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 purchasing an additional 236 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Allegiant Travel during the 4th quarter valued at about $75,000. Institutional investors own 85.81% of the company’s stock.

Allegiant Travel Stock Down 3.0 %

Shares of NASDAQ:ALGT opened at $51.65 on Tuesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The stock has a market cap of $947.16 million, a price-to-earnings ratio of -3.86 and a beta of 1.64. The company has a 50 day moving average of $76.30 and a 200-day moving average of $74.61. Allegiant Travel has a one year low of $36.09 and a one year high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last released its 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 negative net margin of 9.56% and a positive return on equity of 3.33%. On average, sell-side analysts forecast that Allegiant Travel will post 7.7 earnings per share for the current year.

Analyst Ratings Changes

ALGT has been the subject of several recent analyst reports. TD Cowen raised their price objective on shares of 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 lifted their price objective on Allegiant Travel from $83.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Susquehanna increased their target price on Allegiant Travel from $60.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Morgan Stanley lifted their price target on Allegiant Travel from $90.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, Bank of America increased their price objective on shares of Allegiant Travel from $54.00 to $95.00 and gave the stock an “underperform” rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $84.60.

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.