Northern Trust Corp Has $14.52 Million Stake in Allegiant Travel (NASDAQ:ALGT)

Northern Trust Corp lifted its stake in Allegiant Travel (NASDAQ:ALGT - Free Report) by 8.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 154,282 shares of the transportation company's stock after acquiring an additional 11,864 shares during the quarter. Northern Trust Corp owned approximately 0.84% of Allegiant Travel worth $14,521,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Donald Smith & CO. Inc. increased its stake in shares of Allegiant Travel by 2.5% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,018,449 shares of the transportation company's stock worth $95,856,000 after acquiring an additional 24,975 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of Allegiant Travel by 16.5% in 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 acquiring an additional 131,561 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Allegiant Travel by 8.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 748,216 shares of the transportation company's stock worth $70,421,000 after purchasing an additional 57,737 shares in the last quarter. American Century Companies Inc. boosted its holdings in Allegiant Travel by 14.8% in the fourth quarter. American Century Companies Inc. now owns 564,326 shares of the transportation company's stock worth $53,114,000 after purchasing an additional 72,759 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Allegiant Travel by 18.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 304,642 shares of the transportation company's stock worth $28,673,000 after purchasing an additional 47,186 shares in the last quarter. 85.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALGT has been the subject of several research reports. Barclays reduced their target price on shares of Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. Bank of America cut their price target on shares of Allegiant Travel from $95.00 to $50.00 and set an "underperform" rating on the stock in a research report on Thursday, April 3rd. Susquehanna decreased 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. UBS Group increased their target price on shares of Allegiant Travel from $45.00 to $60.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Finally, TD Cowen upped their price target on shares of Allegiant Travel from $35.00 to $50.00 and gave the stock a "hold" rating in a report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $63.70.

Allegiant Travel Price Performance

Shares of ALGT stock traded down $1.61 during trading hours on Wednesday, hitting $53.80. 16,467 shares of the company's stock were exchanged, compared to its average volume of 428,795. Allegiant Travel has a fifty-two week low of $36.09 and a fifty-two week high of $107.57. The firm has a market cap of $982.19 million, a P/E ratio of -4.03 and a beta of 1.78. The firm has a 50 day moving average of $50.29 and a two-hundred day moving average of $72.59. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The transportation company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.54 by $0.27. The company had revenue of $699.07 million for the quarter, compared to analyst estimates of $700.00 million. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. The firm's revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 earnings per share. Sell-side analysts forecast that Allegiant Travel will post 7.7 EPS for the current year.

Allegiant Travel Profile

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.