T. Rowe Price Investment Management Inc. lifted its position in Allegiant Travel (NASDAQ:ALGT - Free Report) by 16.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 928,641 shares of the transportation company's stock after acquiring an additional 131,561 shares during the period. T. Rowe Price Investment Management Inc. owned 5.06% of Allegiant Travel worth $87,404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Emerald Advisers LLC acquired a new position in shares of Allegiant Travel in the fourth quarter valued at about $22,256,000. Mesirow Institutional Investment Management Inc. acquired a new position in Allegiant Travel in the 4th quarter worth approximately $13,830,000. American Century Companies Inc. raised its position in Allegiant Travel by 14.8% during the 4th quarter. American Century Companies Inc. now owns 564,326 shares of the transportation company's stock worth $53,114,000 after buying an additional 72,759 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Allegiant Travel by 8.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 748,216 shares of the transportation company's stock valued at $70,421,000 after acquiring an additional 57,737 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Allegiant Travel by 18.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 304,642 shares of the transportation company's stock valued at $28,673,000 after acquiring an additional 47,186 shares during the period. Hedge funds and other institutional investors own 85.81% of the company's stock.
Allegiant Travel Price Performance
Shares of NASDAQ:ALGT traded up $0.74 during midday trading on Tuesday, reaching $46.58. 439,302 shares of the company's stock traded hands, compared to its average volume of 424,208. The company has a market cap of $854.18 million, a P/E ratio of -3.48 and a beta of 1.57. The company has a fifty day simple moving average of $55.20 and a two-hundred day simple moving average of $73.73. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. Allegiant Travel has a 1 year low of $36.09 and a 1 year high of $107.57.
Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Equities analysts predict that Allegiant Travel will post 7.7 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the stock. StockNews.com raised shares of Allegiant Travel from a "sell" rating to a "hold" rating in a report on Wednesday, January 15th. Raymond James raised Allegiant Travel from an "outperform" rating to a "strong-buy" rating and decreased their price objective for the company from $125.00 to $90.00 in a report on Wednesday, April 2nd. Bank of America dropped their target price on Allegiant Travel from $95.00 to $50.00 and set an "underperform" rating on the stock in a report on Thursday, April 3rd. UBS Group decreased their price target on Allegiant Travel from $61.00 to $45.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Finally, Susquehanna dropped their price objective on shares of Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $67.00.
Get Our Latest Research Report on ALGT
About Allegiant Travel
(
Free Report)
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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