Allegiant Travel Company $ALGT Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. lifted its stake in shares of Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 475,927 shares of the transportation company's stock after acquiring an additional 4,595 shares during the period. Franklin Resources Inc. owned 2.59% of Allegiant Travel worth $26,152,000 as of its most recent filing with the Securities & Exchange Commission.

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Other hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its position in Allegiant Travel by 376.5% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,034 shares of the transportation company's stock worth $53,000 after purchasing an additional 817 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Allegiant Travel by 58.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,108 shares of the transportation company's stock worth $61,000 after buying an additional 407 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Allegiant Travel during the 2nd quarter valued at approximately $204,000. Envestnet Asset Management Inc. acquired a new position in Allegiant Travel in the second quarter valued at approximately $205,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Allegiant Travel in the first quarter worth approximately $213,000. Hedge funds and other institutional investors own 85.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on ALGT. Zacks Research upgraded Allegiant Travel from a "strong sell" rating to a "hold" rating in a research report on Thursday, September 4th. Susquehanna boosted their price objective on shares of Allegiant Travel from $65.00 to $70.00 and gave the company a "neutral" rating in a report on Friday, November 14th. Morgan Stanley upped their target price on shares of Allegiant Travel from $80.00 to $85.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 5th. UBS Group lifted their price target on shares of Allegiant Travel from $65.00 to $66.00 and gave the company a "neutral" rating in a research report on Wednesday, November 5th. Finally, Evercore ISI boosted their price target on shares of Allegiant Travel from $75.00 to $85.00 and gave the company 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, seven have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $71.44.

Get Our Latest Stock Report on ALGT

Allegiant Travel Trading Up 7.0%

Shares of ALGT stock opened at $77.58 on Friday. Allegiant Travel Company has a fifty-two week low of $39.80 and a fifty-two week high of $107.57. The company has a 50 day moving average price of $64.54 and a 200 day moving average price of $59.04. The stock has a market capitalization of $1.42 billion, a P/E ratio of -4.87, a price-to-earnings-growth ratio of 0.49 and a beta of 1.77. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.07 and a current ratio of 1.10.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued its quarterly earnings results on Thursday, May 12th. The transportation company reported $1.18 EPS for the quarter. Allegiant Travel had a negative net margin of 11.10% and a positive return on equity of 5.00%. The company had revenue of $496.88 million during the quarter. Equities research analysts predict that Allegiant Travel Company 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.

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