Allegiant Travel (NASDAQ:ALGT) Stake Raised by Northern Trust Corp

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

Other hedge funds also recently modified their holdings of the company. Emerald Advisers LLC acquired a new stake in shares of Allegiant Travel in the 4th quarter valued at $22,256,000. Mesirow Institutional Investment Management Inc. acquired a new position in Allegiant Travel during the fourth quarter worth approximately $13,830,000. T. Rowe Price Investment Management Inc. increased 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 period. American Century Companies Inc. increased its stake in shares of Allegiant Travel by 14.8% during 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 during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Allegiant Travel by 8.4% during 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 during the period. Institutional investors own 85.81% of the company's stock.

Wall Street Analysts Forecast Growth

ALGT has been the topic of a number of recent research reports. Raymond James restated a "strong-buy" rating and set a $80.00 price objective (down previously from $90.00) on shares of Allegiant Travel in a research note on Wednesday, May 7th. Susquehanna reduced their price target on shares of Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, April 7th. UBS Group raised their price target on shares of Allegiant Travel from $45.00 to $60.00 and gave the company a "neutral" rating in a research report on Tuesday. Barclays lowered their price objective on shares of Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Finally, TD Cowen lifted their target price on shares of Allegiant Travel from $35.00 to $50.00 and gave the stock a "hold" rating in a research note on Monday. 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. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $64.70.

Allegiant Travel Stock Down 1.9%

Shares of NASDAQ ALGT opened at $55.26 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. Allegiant Travel has a 12 month low of $36.09 and a 12 month high of $107.57. The firm has a market capitalization of $1.01 billion, a PE ratio of -4.13 and a beta of 1.78. The firm has a fifty day simple moving average of $50.26 and a two-hundred day simple moving average of $72.68.

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

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