Allegiant Travel (NASDAQ:ALGT) Shares Bought by First Eagle Investment Management LLC

First Eagle Investment Management LLC boosted its holdings in shares of Allegiant Travel (NASDAQ:ALGTGet Rating) by 269.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,995 shares of the transportation company’s stock after buying an additional 5,100 shares during the quarter. First Eagle Investment Management LLC’s holdings in Allegiant Travel were worth $1,308,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Benjamin Edwards Inc. purchased a new stake in Allegiant Travel during the 4th quarter valued at about $56,000. Steward Partners Investment Advisory LLC grew its stake in Allegiant Travel by 5.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,781 shares of the transportation company’s stock valued at $1,455,000 after purchasing an additional 368 shares during the last quarter. Yousif Capital Management LLC purchased a new stake in Allegiant Travel during the 4th quarter valued at about $2,526,000. Oppenheimer Asset Management Inc. grew its stake in Allegiant Travel by 5.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 6,068 shares of the transportation company’s stock valued at $1,186,000 after purchasing an additional 320 shares during the last quarter. Finally, VELA Investment Management LLC purchased a new stake in Allegiant Travel during the 4th quarter valued at about $625,000. 98.49% of the stock is currently owned by institutional investors.

ALGT stock traded up $3.86 during mid-day trading on Friday, reaching $142.90. 161,815 shares of the company’s stock were exchanged, compared to its average volume of 222,406. The company has a market cap of $2.59 billion, a price-to-earnings ratio of 18.27 and a beta of 1.47. The stock’s 50 day moving average is $154.17 and its 200 day moving average is $170.77. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.59 and a quick ratio of 1.55. Allegiant Travel has a 12-month low of $132.03 and a 12-month high of $235.08.

Allegiant Travel (NASDAQ:ALGTGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The transportation company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.22). Allegiant Travel had a return on equity of 7.66% and a net margin of 7.11%. The business had revenue of $500.10 million for the quarter, compared to analysts’ expectations of $495.33 million. During the same quarter in the prior year, the company posted ($3.58) EPS. The business’s revenue for the quarter was up 79.2% compared to the same quarter last year. On average, research analysts forecast that Allegiant Travel will post 5.86 earnings per share for the current fiscal year.

Several analysts have weighed in on ALGT shares. StockNews.com started coverage on Allegiant Travel in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research upgraded Allegiant Travel from a “strong sell” rating to a “hold” rating and set a $160.00 target price on the stock in a research note on Tuesday, March 22nd. Deutsche Bank Aktiengesellschaft lowered their target price on Allegiant Travel from $275.00 to $247.00 in a research note on Thursday, February 3rd. TheStreet downgraded Allegiant Travel from a “b-” rating to a “c+” rating in a research note on Thursday, February 3rd. Finally, Morgan Stanley lowered their target price on Allegiant Travel from $270.00 to $267.00 and set an “overweight” rating on the stock in a research note on Monday, April 4th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $228.90.

In related news, CMO Scott Wayne Deangelo sold 500 shares of the stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $162.87, for a total value of $81,435.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Maurice J. Gallagher, Jr. sold 2,193 shares of the stock in a transaction that occurred on Thursday, March 10th. The shares were sold at an average price of $145.85, for a total value of $319,849.05. The disclosure for this sale can be found here. Insiders have sold 4,354 shares of company stock valued at $684,840 in the last three months. Insiders own 16.70% of the company’s stock.

Allegiant Travel Company Profile (Get Rating)

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 14, 2022, it operated a fleet of 110 Airbus A320 series aircraft.

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Institutional Ownership by Quarter for Allegiant Travel (NASDAQ:ALGT)

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