Allegiant Travel (NASDAQ:ALGT) Shares Acquired by Ameriprise Financial Inc.

Ameriprise Financial Inc. boosted its holdings in Allegiant Travel (NASDAQ:ALGT) by 137.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,470 shares of the transportation company’s stock after purchasing an additional 69,786 shares during the quarter. Ameriprise Financial Inc.’s holdings in Allegiant Travel were worth $11,339,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Emerald Advisers LLC acquired a new stake in Allegiant Travel during the 4th quarter worth approximately $22,256,000. Mesirow Institutional Investment Management Inc. acquired a new position in shares of Allegiant Travel in the fourth quarter valued at approximately $13,830,000. T. Rowe Price Investment Management Inc. raised its stake in shares of Allegiant Travel by 16.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 928,641 shares of the transportation company’s stock worth $87,404,000 after purchasing an additional 131,561 shares during the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Allegiant Travel during the fourth quarter worth $11,862,000. Finally, American Century Companies Inc. grew its position in Allegiant Travel by 14.8% in the 4th quarter. American Century Companies Inc. now owns 564,326 shares of the transportation company’s stock valued at $53,114,000 after buying an additional 72,759 shares during the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

Wall Street Analyst Weigh In

ALGT has been the subject of a number of analyst reports. Barclays cut their price objective on shares of Allegiant Travel from $60.00 to $52.00 and set an “equal weight” rating for the company in a research report on Thursday, May 8th. Raymond James reissued a “strong-buy” rating and set a $80.00 price target (down from $90.00) on shares of Allegiant Travel in a report on Wednesday, May 7th. Susquehanna reduced their price objective on shares of Allegiant Travel from $95.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. UBS Group lifted their price objective on Allegiant Travel from $45.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. Finally, Bank of America cut their target price on Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating for the company in a research note on Thursday, April 3rd. One equities 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.com, the company has an average rating of “Hold” and a consensus price target of $64.70.

Allegiant Travel Stock Up 1.6%

ALGT opened at $56.13 on Monday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -4.20 and a beta of 1.78. Allegiant Travel has a one year low of $36.09 and a one year high of $107.57. The business’s fifty day moving average is $50.25 and its two-hundred day moving average is $72.76.

Allegiant Travel (NASDAQ:ALGT) last announced its earnings results on Tuesday, May 6th. The transportation company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.27. The company had revenue of $699.07 million during the quarter, compared to analysts’ expectations of $700.00 million. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 earnings per share. Analysts anticipate that Allegiant Travel will post 7.7 EPS 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.