Ameriprise Financial Inc. Boosts Holdings in Allegiant Travel (NASDAQ:ALGT)

Ameriprise Financial Inc. increased its stake in shares of Allegiant Travel (NASDAQ:ALGT - Free Report) by 137.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 120,470 shares of the transportation company's stock after purchasing an additional 69,786 shares during the period. Ameriprise Financial Inc. owned 0.66% of Allegiant Travel worth $11,339,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Signaturefd LLC increased its position in shares of Allegiant Travel by 30.3% during the fourth quarter. Signaturefd LLC now owns 594 shares of the transportation company's stock worth $56,000 after purchasing an additional 138 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Allegiant Travel by 94.5% during the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company's stock worth $43,000 after purchasing an additional 223 shares in the last quarter. Crews Bank & Trust acquired a new position in Allegiant Travel during the fourth quarter worth about $25,000. Legal & General Group Plc boosted its position in Allegiant Travel by 1.1% during the fourth quarter. Legal & General Group Plc now owns 31,767 shares of the transportation company's stock worth $2,990,000 after acquiring an additional 348 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its position in Allegiant Travel by 803.6% during the fourth quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company's stock worth $47,000 after acquiring an additional 442 shares during the last quarter. Institutional investors and hedge funds own 85.81% of the company's stock.

Allegiant Travel Trading Down 7.1%

Shares of Allegiant Travel stock traded down $3.95 on Wednesday, reaching $51.46. The company had a trading volume of 490,725 shares, compared to its average volume of 430,690. The firm's 50 day moving average price is $50.24 and its two-hundred day moving average price is $72.44. The firm has a market cap of $939.40 million, a PE ratio of -3.85 and a beta of 1.78. Allegiant Travel has a 52-week low of $36.09 and a 52-week high of $107.57. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ALGT shares. TD Cowen boosted their price target on shares of Allegiant Travel from $35.00 to $50.00 and gave the stock a "hold" rating in a research report on Monday, May 12th. Barclays reduced their price objective on 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. UBS Group upped their target price on Allegiant Travel from $45.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. 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. Finally, Susquehanna cut their target price on Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. One equities research 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 stock. Based on data from MarketBeat, Allegiant Travel presently has a consensus rating of "Hold" and an average price target of $63.70.

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.