T. Rowe Price Investment Management Inc. Acquires 131,561 Shares of Allegiant Travel (NASDAQ:ALGT)

T. Rowe Price Investment Management Inc. increased its holdings in shares of Allegiant Travel (NASDAQ:ALGT) by 16.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 928,641 shares of the transportation company’s stock after purchasing an additional 131,561 shares during the quarter. T. Rowe Price Investment Management Inc. owned 0.05% of Allegiant Travel worth $87,404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Stifel Financial Corp bought a new position in Allegiant Travel during the 3rd quarter valued at about $210,000. Barclays PLC lifted its holdings in shares of Allegiant Travel by 136.9% during the 3rd quarter. Barclays PLC now owns 31,876 shares of the transportation company’s stock valued at $1,755,000 after buying an additional 18,421 shares during the period. Geode Capital Management LLC boosted its stake in shares of Allegiant Travel by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 364,755 shares of the transportation company’s stock worth $20,089,000 after buying an additional 5,424 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Allegiant Travel by 2.5% in the third quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company’s stock worth $34,584,000 after acquiring an additional 14,852 shares during the period. Finally, GAMMA Investing LLC increased its position in Allegiant Travel by 53.5% during the fourth 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 last quarter. 85.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on ALGT. The Goldman Sachs Group upped their price target on shares of Allegiant Travel from $83.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Barclays reduced their target price on shares of Allegiant Travel from $100.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Susquehanna dropped their price target 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. Raymond James upgraded Allegiant Travel from an “outperform” rating to a “strong-buy” rating and reduced their price objective for the stock from $125.00 to $90.00 in a research note on Wednesday, April 2nd. Finally, UBS Group lowered their target price on Allegiant Travel from $61.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $67.00.

Allegiant Travel Price Performance

Shares of Allegiant Travel stock opened at $46.12 on Friday. The company has a market capitalization of $845.75 million, a price-to-earnings ratio of -3.45 and a beta of 1.57. 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 simple moving average is $56.00 and its 200-day simple moving average is $73.58. Allegiant Travel has a 52 week low of $36.09 and a 52 week high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings results on Tuesday, February 4th. The transportation company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates 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%. As a group, analysts expect 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.