Illinois Municipal Retirement Fund Sells 379 Shares of Allegiant Travel (NASDAQ:ALGT)

Illinois Municipal Retirement Fund cut its position in shares of Allegiant Travel (NASDAQ:ALGT) by 4.9% in the fourth 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 period. Illinois Municipal Retirement Fund’s holdings in Allegiant Travel were worth $691,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Nisa Investment Advisors LLC raised its holdings in shares of Allegiant Travel by 136.9% in the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 304 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in Allegiant Travel by 34.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 10,198 shares of the transportation company’s stock valued at $562,000 after purchasing an additional 2,607 shares during the period. Privium Fund Management UK Ltd increased its position in Allegiant Travel by 3.5% during the 3rd quarter. Privium Fund Management UK Ltd now owns 10,549 shares of the transportation company’s stock valued at $581,000 after purchasing an additional 358 shares during the period. Empowered Funds LLC raised its holdings in shares of Allegiant Travel by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 80,695 shares of the transportation company’s stock valued at $4,443,000 after purchasing an additional 4,020 shares in the last quarter. Finally, Drive Wealth Management LLC purchased a new stake in shares of Allegiant Travel in the 3rd quarter worth approximately $471,000. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ALGT. StockNews.com raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. Susquehanna boosted their price target on Allegiant Travel from $60.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. TD Cowen upped their price objective on 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 lifted their target price on Allegiant Travel from $90.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Finally, Bank of America increased their price target on shares of Allegiant Travel from $54.00 to $95.00 and gave the company an “underperform” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $80.10.

Allegiant Travel Price Performance

Shares of ALGT stock 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 firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -5.20 and a beta of 1.63. The stock’s 50-day simple moving average is $92.51 and its 200-day simple moving average 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 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%. As a group, equities analysts forecast that Allegiant Travel will post 7.7 earnings per share for the current fiscal 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.