Allegiant Travel Company $ALGT Shares Acquired by T. Rowe Price Investment Management Inc.

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. raised its stake in Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 5.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 982,962 shares of the transportation company's stock after buying an additional 54,321 shares during the period. T. Rowe Price Investment Management Inc. owned about 5.38% of Allegiant Travel worth $50,770,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. New York State Common Retirement Fund grew its holdings in shares of Allegiant Travel by 8.5% in the first quarter. New York State Common Retirement Fund now owns 6,003 shares of the transportation company's stock worth $310,000 after purchasing an additional 470 shares during the last quarter. New York State Teachers Retirement System raised its holdings in shares of Allegiant Travel by 8.2% during the first quarter. New York State Teachers Retirement System now owns 18,922 shares of the transportation company's stock valued at $977,000 after purchasing an additional 1,426 shares during the last quarter. SG Americas Securities LLC bought a new stake in Allegiant Travel in the 1st quarter worth approximately $597,000. Illinois Municipal Retirement Fund boosted its stake in shares of Allegiant Travel by 33.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 9,826 shares of the transportation company's stock worth $508,000 after acquiring an additional 2,480 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Allegiant Travel by 1,486.7% in the fourth quarter. Russell Investments Group Ltd. now owns 1,904 shares of the transportation company's stock worth $179,000 after buying an additional 1,784 shares during the period. Institutional investors own 85.81% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Evercore ISI upgraded shares of Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 target price on the stock in a research note on Tuesday, July 1st. TD Cowen boosted their target price on shares of Allegiant Travel from $35.00 to $50.00 and gave the stock a "hold" rating in a report on Monday, May 12th. Bank of America cut their price objective on shares of Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating on the stock in a research report on Tuesday, July 8th. Raymond James Financial reiterated a "strong-buy" rating and set a $80.00 price objective (down from $90.00) on shares of Allegiant Travel in a research note on Wednesday, May 7th. Finally, Morgan Stanley lowered their price objective on Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating on the stock in a research report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $64.33.

Allegiant Travel Stock Up 0.3%

Allegiant Travel stock traded up $0.17 during midday trading on Thursday, reaching $62.68. The company's stock had a trading volume of 88,669 shares, compared to its average volume of 444,751. Allegiant Travel Company has a fifty-two week low of $39.10 and a fifty-two week 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. The company has a market cap of $1.15 billion, a P/E ratio of -3.93, a P/E/G ratio of 0.56 and a beta of 1.72. The business has a 50-day simple moving average of $54.37 and a 200-day simple moving average of $56.22.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last announced its earnings results on Monday, August 4th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.40. The business had revenue of $689.40 million for the quarter, compared to analyst estimates of $685.58 million. Allegiant Travel had a negative net margin of 11.10% and a positive return on equity of 5.00%. The company's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period 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. On average, research analysts expect that Allegiant Travel Company will post 7.7 earnings per share for the current fiscal 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.