Picton Mahoney Asset Management Invests $490,000 in Allegiant Travel (NASDAQ:ALGT)

Picton Mahoney Asset Management acquired a new stake in Allegiant Travel (NASDAQ:ALGT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,206 shares of the transportation company’s stock, valued at approximately $490,000.

Other large investors have also bought and sold shares of the company. Landscape Capital Management L.L.C. bought a new stake in Allegiant Travel during the third quarter worth approximately $6,193,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Allegiant Travel by 41.5% in the third 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 in the last quarter. Barclays PLC lifted its position in shares of Allegiant Travel by 136.9% during the 3rd quarter. Barclays PLC now owns 31,876 shares of the transportation company’s stock valued at $1,755,000 after acquiring an additional 18,421 shares during the last quarter. Paloma Partners Management Co bought a new stake in shares of Allegiant Travel during the 3rd quarter worth $1,004,000. Finally, Franklin Resources Inc. grew its holdings in shares of Allegiant Travel by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock worth $34,584,000 after acquiring an additional 14,852 shares during the last quarter. Institutional investors own 85.81% of the company’s stock.

Allegiant Travel Price Performance

Shares of NASDAQ:ALGT opened at $54.23 on Monday. The firm has a market cap of $994.47 million, a price-to-earnings ratio of -4.06 and a beta of 1.64. Allegiant Travel has a 1 year low of $36.09 and a 1 year high of $107.57. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The business has a fifty day simple moving average of $86.46 and a 200 day simple moving average of $73.60.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $1.62. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. As a group, sell-side analysts predict that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Raymond James upped their target price on Allegiant Travel from $75.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, December 30th. StockNews.com upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. Morgan Stanley lifted their target price on shares of Allegiant Travel from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Susquehanna upped their price target on shares of Allegiant Travel from $60.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Finally, Barclays lifted their price objective on shares of Allegiant Travel from $85.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $80.10.

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.