American Century Companies Inc. Buys 72,759 Shares of Allegiant Travel (NASDAQ:ALGT)

American Century Companies Inc. raised its stake in Allegiant Travel (NASDAQ:ALGT - Free Report) by 14.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 564,326 shares of the transportation company's stock after acquiring an additional 72,759 shares during the period. American Century Companies Inc. owned approximately 3.08% of Allegiant Travel worth $53,114,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ALGT. Intech Investment Management LLC purchased a new stake in shares of Allegiant Travel during the third quarter valued at approximately $450,000. Charles Schwab Investment Management Inc. boosted its stake in Allegiant Travel by 41.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 257,456 shares of the transportation company's stock valued at $14,176,000 after purchasing an additional 75,486 shares during the last quarter. Algert Global LLC bought a new stake in shares of Allegiant Travel in the 3rd quarter worth $579,000. PEAK6 Investments LLC purchased a new position in shares of Allegiant Travel in the third quarter worth $382,000. Finally, Paloma Partners Management Co bought a new position in shares of Allegiant Travel during the third quarter valued at $1,004,000. 85.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Bank of America lifted their price objective on Allegiant Travel from $54.00 to $95.00 and gave the stock an "underperform" rating in a report on Friday, January 17th. TD Cowen boosted their price objective on shares of Allegiant Travel from $50.00 to $70.00 and gave the company a "hold" rating in a report on Tuesday, December 17th. Susquehanna increased their price objective 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. The Goldman Sachs Group lifted their target price on shares of Allegiant Travel from $83.00 to $92.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. Finally, StockNews.com raised 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 buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $84.60.

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Allegiant Travel Stock Performance

NASDAQ:ALGT traded down $1.68 during mid-day trading on Friday, hitting $53.22. 266,505 shares of the company traded hands, compared to its average volume of 409,088. 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 fifty day moving average price is $77.33 and its 200-day moving average price is $74.54. The firm has a market cap of $975.95 million, a price-to-earnings ratio of -3.98 and a beta of 1.64. Allegiant Travel has a one year low of $36.09 and a one year high of $107.57.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) 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 negative net margin of 9.56% and a positive return on equity of 3.33%. Research analysts anticipate that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

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.