Fintel reports that on July 6, 2023, Morgan Stanley maintained coverage of Allegiant Travel (NASDAQ:ALGT) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 7.41% Downside
As of June 1, 2023, the average one-year price target for Allegiant Travel is 116.69. The forecasts range from a low of 85.85 to a high of $157.50. The average price target represents a decrease of 7.41% from its latest reported closing price of 126.03.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Allegiant Travel is 2,568MM, an increase of 4.76%. The projected annual non-GAAP EPS is 5.81.
What is the Fund Sentiment?
There are 491 funds or institutions reporting positions in Allegiant Travel. This is an increase of 17 owner(s) or 3.59% in the last quarter. Average portfolio weight of all funds dedicated to ALGT is 0.15%, an increase of 31.54%. Total shares owned by institutions decreased in the last three months by 1.83% to 19,102K shares. 
The put/call ratio of ALGT is 1.46, indicating a bearish outlook.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 1,558K shares representing 8.65% ownership of the company. In it's prior filing, the firm reported owning 1,590K shares, representing a decrease of 2.10%. The firm increased its portfolio allocation in ALGT by 23.81% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 1,137K shares representing 6.32% ownership of the company. In it's prior filing, the firm reported owning 1,156K shares, representing a decrease of 1.60%. The firm increased its portfolio allocation in ALGT by 29.38% over the last quarter.
Diamond Hill Capital Management holds 790K shares representing 4.39% ownership of the company. In it's prior filing, the firm reported owning 734K shares, representing an increase of 7.09%. The firm increased its portfolio allocation in ALGT by 50.01% over the last quarter.
JETS - U.S. Global Jets ETF holds 763K shares representing 4.24% ownership of the company. In it's prior filing, the firm reported owning 849K shares, representing a decrease of 11.30%. The firm increased its portfolio allocation in ALGT by 31.77% over the last quarter.
U S Global Investors holds 763K shares representing 4.24% ownership of the company. In it's prior filing, the firm reported owning 849K shares, representing a decrease of 11.30%. The firm increased its portfolio allocation in ALGT by 28.02% over the last quarter.
Allegiant Travel Background Information
(This description is provided by the company.)
Allegiant Travel Company operates as a leisure travel company. The Company offers flight transport, hotel booking, car rentals, travel management, and other related services. Allegiant Travel serves customers worldwide.
Additional reading:
- Separation Agreement and Mutual Release of All Claims between the Company and Scott Sheldon dated January 27, 2023.
- ALLEGIANT TRAVEL COMPANY FIRST QUARTER 2023 FINANCIAL RESULTS First quarter 2023 GAAP diluted earnings per share of $3.09 First quarter 2023 diluted earnings per share, excluding Sunseeker special charges of $3.04(1)(4) First quarter 2023 airline onl
- 2022 Long-Term Incentive Plan. (1)
- Form of Restricted Stock Agreement under 2022 Long-Term Incentive Plan - Employees. (1)
- Form of Restricted Stock Agreement under 2022 Long-Term Incentive Plan - Board Members
This story originally appeared on Fintel.
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