Voloridge Investment Management LLC purchased a new stake in Allegiant Travel (NASDAQ:ALGT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 177,568 shares of the transportation company's stock, valued at approximately $16,713,000. Voloridge Investment Management LLC owned about 0.97% of Allegiant Travel at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in ALGT. Donald Smith & CO. Inc. lifted its stake in shares of Allegiant Travel by 2.5% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,018,449 shares of the transportation company's stock valued at $95,856,000 after purchasing an additional 24,975 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Allegiant Travel by 16.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 928,641 shares of the transportation company's stock valued at $87,404,000 after purchasing an additional 131,561 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Allegiant Travel by 8.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 748,216 shares of the transportation company's stock valued at $70,421,000 after purchasing an additional 57,737 shares during the period. American Century Companies Inc. increased its position in Allegiant Travel by 14.8% in the 4th quarter. American Century Companies Inc. now owns 564,326 shares of the transportation company's stock valued at $53,114,000 after buying an additional 72,759 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Allegiant Travel by 18.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 304,642 shares of the transportation company's stock valued at $28,673,000 after buying an additional 47,186 shares in the last quarter. Institutional investors own 85.81% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the company. Raymond James reaffirmed a "strong-buy" rating and issued a $80.00 target price (down from $90.00) on shares of Allegiant Travel in a research report on Wednesday, May 7th. Susquehanna cut their target price on Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Bank of America cut their target price on Allegiant Travel from $95.00 to $50.00 and set an "underperform" rating on the stock in a research note on Thursday, April 3rd. Barclays cut their target price on 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. Finally, TD Cowen boosted their target price on Allegiant Travel from $35.00 to $50.00 and gave the stock a "hold" rating in a research note on Monday, May 12th. One 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 company. According to MarketBeat.com, Allegiant Travel has an average rating of "Hold" and an average price target of $63.70.
View Our Latest Stock Report on ALGT
Allegiant Travel Stock Performance
Shares of NASDAQ:ALGT traded down $0.03 during trading on Wednesday, hitting $55.86. 117,491 shares of the company were exchanged, compared to its average volume of 429,717. The company has a market cap of $1.02 billion, a PE ratio of -4.20 and a beta of 1.78. The stock has a 50 day moving average of $50.20 and a 200 day moving average of $71.99. 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 current ratio of 0.75 and a quick ratio of 0.72.
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 for the quarter, topping the consensus estimate of $1.54 by $0.27. The firm had revenue of $699.07 million for 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 business's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.57 earnings per share. As a group, equities research analysts predict that Allegiant Travel will post 7.7 EPS for the current 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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