Franklin Resources Inc. Trims Stock Holdings in Allegiant Travel (NASDAQ:ALGT)

Franklin Resources Inc. decreased its position in Allegiant Travel (NASDAQ:ALGT) by 3.6% in the 4th quarter, HoldingsChannel reports. The firm owned 578,739 shares of the transportation company’s stock after selling 21,472 shares during the period. Franklin Resources Inc.’s holdings in Allegiant Travel were worth $54,471,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in Allegiant Travel by 30.3% during the fourth quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock worth $56,000 after buying an additional 138 shares during the period. SeaCrest Wealth Management LLC grew its stake in Allegiant Travel by 3.3% during the fourth quarter. SeaCrest Wealth Management LLC now owns 6,210 shares of the transportation company’s stock worth $584,000 after buying an additional 200 shares during the period. Jones Financial Companies Lllp increased its position in shares of Allegiant Travel by 94.5% in the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock worth $43,000 after acquiring an additional 223 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Allegiant Travel by 53.5% in the 4th quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock valued at $64,000 after acquiring an additional 236 shares during the period. Finally, Crews Bank & Trust acquired a new position in shares of Allegiant Travel during the 4th quarter valued at $25,000. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Allegiant Travel Trading Down 4.4 %

Shares of NASDAQ ALGT opened at $46.55 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The stock’s 50 day moving average price is $72.05 and its two-hundred day moving average price is $74.40. Allegiant Travel has a 52-week low of $36.09 and a 52-week high of $107.57. The stock has a market capitalization of $853.63 million, a P/E ratio of -3.48 and a beta of 1.57.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. On average, analysts anticipate that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ALGT. Bank of America cut their price objective on Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating on the stock in a research report on Thursday. UBS Group reduced their price target on Allegiant Travel from $93.00 to $61.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. Morgan Stanley upped their price target on Allegiant Travel from $90.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Raymond James raised shares of Allegiant Travel from an “outperform” rating to a “strong-buy” rating and reduced their target price for the stock from $125.00 to $90.00 in a research report on Wednesday. Finally, StockNews.com raised shares of Allegiant Travel from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $78.10.

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.