Ameriprise Financial Inc. lifted its stake in Allegiant Travel (NASDAQ:ALGT - Free Report) by 137.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 120,470 shares of the transportation company's stock after purchasing an additional 69,786 shares during the quarter. Ameriprise Financial Inc. owned 0.66% of Allegiant Travel worth $11,339,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of ALGT. Crews Bank & Trust acquired a new stake in shares of Allegiant Travel during the 4th quarter valued at about $25,000. Jones Financial Companies Lllp lifted its holdings in Allegiant Travel by 94.5% in the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company's stock worth $43,000 after purchasing an additional 223 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in Allegiant Travel by 803.6% in the 4th quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company's stock worth $47,000 after purchasing an additional 442 shares during the last quarter. Signaturefd LLC lifted its holdings in Allegiant Travel by 30.3% in the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company's stock worth $56,000 after purchasing an additional 138 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Allegiant Travel in the 4th quarter worth approximately $75,000. Institutional investors and hedge funds own 85.81% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on ALGT shares. Susquehanna cut their price target on Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Barclays lowered 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 boosted their price objective on Allegiant Travel from $45.00 to $60.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Bank of America lowered their price objective on Allegiant Travel from $95.00 to $50.00 and set an "underperform" rating on the stock in a research report on Thursday, April 3rd. Finally, Raymond James restated a "strong-buy" rating and set a $80.00 price objective (down from $90.00) on shares of Allegiant Travel in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $63.70.
Read Our Latest Stock Analysis on Allegiant Travel
Allegiant Travel Stock Performance
NASDAQ:ALGT traded down $0.65 during mid-day trading on Friday, hitting $52.34. 247,157 shares of the stock were exchanged, compared to its average volume of 431,196. The stock has a market capitalization of $955.47 million, a price-to-earnings ratio of -3.91 and a beta of 1.78. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The firm's 50-day simple moving average is $50.21 and its 200 day simple moving average is $72.25. Allegiant Travel has a fifty-two week low of $36.09 and a fifty-two week high of $107.57.
Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The transportation company reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.27. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. The company had revenue of $699.07 million during the quarter, compared to analysts' expectations of $700.00 million. During the same quarter in the previous year, the firm earned $0.57 EPS. Allegiant Travel's revenue was up 6.5% on a year-over-year basis. As a group, equities analysts anticipate that Allegiant Travel will post 7.7 EPS for the current fiscal year.
About Allegiant Travel
(
Free Report)
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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