4,650 Shares in Allegiant Travel (NASDAQ:ALGT) Acquired by ProShare Advisors LLC

ProShare Advisors LLC purchased a new position in Allegiant Travel (NASDAQ:ALGT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,650 shares of the transportation company's stock, valued at approximately $438,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALGT. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Allegiant Travel during the fourth quarter valued at approximately $26,067,000. Emerald Advisers LLC purchased a new stake in shares of Allegiant Travel during the fourth quarter valued at approximately $22,256,000. Mesirow Institutional Investment Management Inc. purchased a new stake in shares of Allegiant Travel during the fourth quarter valued at approximately $13,830,000. T. Rowe Price Investment Management Inc. grew its holdings 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 valued at $87,404,000 after buying an additional 131,561 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Allegiant Travel during the fourth quarter valued at approximately $11,862,000. Hedge funds and other institutional investors own 85.81% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ALGT. Barclays dropped their target price on shares of Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. 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 report on Monday, April 7th. Raymond James reiterated a "strong-buy" rating and issued a $80.00 price target (down from $90.00) on shares of Allegiant Travel in a research report on Wednesday, May 7th. UBS Group increased their price target 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, Bank of America decreased 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. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $63.70.

Allegiant Travel Trading Down 1.5%

Shares of ALGT stock traded down $0.82 during trading hours on Thursday, reaching $55.69. 409,787 shares of the stock were exchanged, compared to its average volume of 430,551. Allegiant Travel has a 12-month low of $36.09 and a 12-month high of $107.57. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The company's 50-day moving average price is $50.22 and its 200-day moving average price is $71.75. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -4.17 and a beta of 1.78.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The transportation company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 EPS. As a group, equities analysts anticipate that Allegiant Travel will post 7.7 earnings per share for the current 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.