Franklin Resources Inc. Decreases Position in Allegiant Travel (NASDAQ:ALGT)

Franklin Resources Inc. reduced its stake in Allegiant Travel (NASDAQ:ALGT) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 578,739 shares of the transportation company’s stock after selling 21,472 shares during the period. Franklin Resources Inc. owned 3.15% of Allegiant Travel worth $54,471,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in shares of 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 valued at $14,176,000 after buying an additional 75,486 shares during the last quarter. Stifel Financial Corp purchased a new position in shares of Allegiant Travel during the third quarter worth about $210,000. State Street Corp increased its position in shares of Allegiant Travel by 1.7% during 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 in the last quarter. XTX Topco Ltd lifted its holdings in shares of Allegiant Travel by 15.0% in the 3rd quarter. XTX Topco Ltd now owns 17,491 shares of the transportation company’s stock valued at $963,000 after purchasing an additional 2,279 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of Allegiant Travel by 136.9% in the 3rd quarter. Barclays PLC now owns 31,876 shares of the transportation company’s stock valued at $1,755,000 after purchasing an additional 18,421 shares during the period. Institutional investors and hedge funds own 85.81% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on ALGT shares. StockNews.com raised Allegiant Travel from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. The Goldman Sachs Group boosted their price objective on shares of Allegiant Travel from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. TD Cowen raised their target price on shares of Allegiant Travel from $50.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, December 17th. Morgan Stanley boosted their price target on shares of Allegiant Travel from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, Raymond James upgraded shares of Allegiant Travel from an “outperform” rating to a “strong-buy” rating and reduced their price objective for the company from $125.00 to $90.00 in a research report on Wednesday. One 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $78.10.

Allegiant Travel Stock Down 4.4 %

ALGT opened at $46.55 on Friday. 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 $853.63 million, a price-to-earnings ratio of -3.48 and a beta of 1.57. Allegiant Travel has a one year low of $36.09 and a one year high of $107.57. The business’s fifty day moving average is $72.05 and its two-hundred day moving average is $74.40.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 EPS for the quarter, topping the consensus estimate 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%. Analysts anticipate that Allegiant Travel will post 7.7 EPS 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.