T. Rowe Price Investment Management Inc. Increases Stock Position in Allegiant Travel Company $ALGT

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Allegiant Travel Company by 5.8%, owning a total of 982,962 shares valued at approximately $50.77 million.
• Other institutional investors also significantly raised their positions, with some increasing their stakes by as much as 803.6%, highlighting strong interest in the company.
• Allegiant Travel reported earnings per share (EPS) of $1.23 for the last quarter, exceeding estimates, while also having a negative net margin of 11.10%.

T. Rowe Price Investment Management Inc. grew its holdings in shares of Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 5.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 982,962 shares of the transportation company's stock after acquiring an additional 54,321 shares during the quarter. T. Rowe Price Investment Management Inc. owned 5.38% of Allegiant Travel worth $50,770,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Sterling Capital Management LLC raised its stake in shares of 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 in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Allegiant Travel by 489.1% during the first quarter. Farther Finance Advisors LLC now owns 542 shares of the transportation company's stock worth $28,000 after acquiring an additional 450 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Allegiant Travel by 376.5% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,034 shares of the transportation company's stock worth $53,000 after acquiring an additional 817 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Allegiant Travel by 1,486.7% during the fourth quarter. Russell Investments Group Ltd. now owns 1,904 shares of the transportation company's stock worth $179,000 after acquiring an additional 1,784 shares in the last quarter. Finally, Bank of Montreal Can purchased a new position in shares of Allegiant Travel during the fourth quarter worth approximately $213,000. 85.81% of the stock is owned by hedge funds and other institutional investors.

Allegiant Travel Stock Performance

NASDAQ:ALGT opened at $60.60 on Friday. The stock has a market cap of $1.11 billion, a P/E ratio of -3.80, a price-to-earnings-growth ratio of 0.51 and a beta of 1.72. The firm's fifty day simple moving average is $53.84 and its 200 day simple moving average is $56.77. Allegiant Travel Company has a twelve month low of $39.10 and a twelve month high of $107.57. The company has a quick ratio of 1.07, a current ratio of 1.10 and a debt-to-equity ratio of 1.68.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The transportation company reported $1.23 EPS for the quarter, beating the consensus estimate of $0.83 by $0.40. The business had revenue of $689.40 million during the quarter, compared to analyst estimates of $685.58 million. Allegiant Travel had a positive return on equity of 5.00% and a negative net margin of 11.10%.The company's revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 earnings per share. Allegiant Travel has set its FY 2015 guidance at 2.250- EPS. Q3 2025 guidance at -2.750--1.750 EPS. As a group, research analysts predict that Allegiant Travel Company will post 7.7 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on ALGT shares. Morgan Stanley decreased their price target on shares of Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating on the stock in a research note on Monday, July 7th. Barclays decreased their price target on shares of Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Raymond James Financial reissued a "strong-buy" rating and set a $80.00 price target (down from $90.00) on shares of Allegiant Travel in a research note on Wednesday, May 7th. Susquehanna restated a "neutral" rating and issued a $50.00 target price (up previously from $45.00) on shares of Allegiant Travel in a report on Tuesday, August 5th. Finally, Bank of America cut their target price on shares of Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating on the stock in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Allegiant Travel has an average rating of "Hold" and a consensus price target of $64.33.

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.

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