Price T Rowe Associates Inc. MD Sells 19,215 Shares of Allegiant Travel (NASDAQ:ALGT)

Price T Rowe Associates Inc. MD decreased its stake in Allegiant Travel (NASDAQ:ALGT - Free Report) by 51.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,223 shares of the transportation company's stock after selling 19,215 shares during the period. Price T Rowe Associates Inc. MD owned 0.10% of Allegiant Travel worth $1,716,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Emerald Advisers LLC bought a new stake in shares of Allegiant Travel in the fourth quarter valued at approximately $22,256,000. Mesirow Institutional Investment Management Inc. purchased a new position in Allegiant Travel during the fourth quarter valued at approximately $13,830,000. American Century Companies Inc. grew its stake in Allegiant Travel by 14.8% during the fourth quarter. American Century Companies Inc. now owns 564,326 shares of the transportation company's stock valued at $53,114,000 after acquiring an additional 72,759 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Allegiant Travel by 8.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 748,216 shares of the transportation company's stock valued at $70,421,000 after acquiring an additional 57,737 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Allegiant Travel by 18.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 304,642 shares of the transportation company's stock valued at $28,673,000 after acquiring an additional 47,186 shares in the last quarter. Institutional investors own 85.81% of the company's stock.

Allegiant Travel Stock Performance

Shares of NASDAQ ALGT traded down $1.25 during trading on Wednesday, reaching $57.09. 110,969 shares of the company traded hands, compared to its average volume of 427,172. The firm has a 50 day simple moving average of $50.35 and a 200-day simple moving average of $72.85. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $1.04 billion, a PE ratio of -4.27 and a beta of 1.78. Allegiant Travel has a 52-week low of $36.09 and a 52-week high of $107.57.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last announced 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. The firm had revenue of $699.07 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 EPS. Equities research analysts anticipate that Allegiant Travel will post 7.7 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on ALGT. Bank of America reduced their price objective on shares of Allegiant Travel from $95.00 to $50.00 and set an "underperform" rating for the company in a research note on Thursday, April 3rd. TD Cowen upped their price objective on shares of Allegiant Travel from $35.00 to $50.00 and gave the company a "hold" rating in a research note on Monday. The Goldman Sachs Group upped their price objective on shares of Allegiant Travel from $83.00 to $92.00 and gave the stock a "neutral" rating in a report on Tuesday, January 14th. UBS Group increased their price target on shares of Allegiant Travel from $45.00 to $60.00 and gave the stock a "neutral" rating in a research note on Tuesday. Finally, Morgan Stanley increased their price target on shares of Allegiant Travel from $90.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, Allegiant Travel has an average rating of "Hold" and an average price target of $64.70.

Allegiant Travel Company 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.