T. Rowe Price Investment Management Inc. Purchases 131,561 Shares of Allegiant Travel (NASDAQ:ALGT)

T. Rowe Price Investment Management Inc. raised its position in Allegiant Travel (NASDAQ:ALGT - Free Report) by 16.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 928,641 shares of the transportation company's stock after purchasing an additional 131,561 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 5.06% of Allegiant Travel worth $87,404,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Signaturefd LLC increased its position in shares of Allegiant Travel by 30.3% during the fourth quarter. Signaturefd LLC now owns 594 shares of the transportation company's stock worth $56,000 after acquiring an additional 138 shares in the last quarter. SeaCrest Wealth Management LLC increased its position in shares of Allegiant Travel by 3.3% during the fourth quarter. SeaCrest Wealth Management LLC now owns 6,210 shares of the transportation company's stock worth $584,000 after acquiring an additional 200 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Allegiant Travel by 94.5% during the fourth quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company's stock worth $43,000 after acquiring an additional 223 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Allegiant Travel by 53.5% during the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company's stock worth $64,000 after acquiring an additional 236 shares in the last quarter. Finally, Crews Bank & Trust bought a new stake in shares of Allegiant Travel during the fourth quarter worth $25,000. Institutional investors own 85.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ALGT shares. Susquehanna lowered their price objective on shares of Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. StockNews.com upgraded shares of Allegiant Travel from a "sell" rating to a "hold" rating in a report on Wednesday, January 15th. Barclays reduced their target price on shares of Allegiant Travel from $100.00 to $60.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Raymond James upgraded shares of Allegiant Travel from an "outperform" rating to a "strong-buy" rating and reduced their target price for the stock from $125.00 to $90.00 in a report on Wednesday, April 2nd. Finally, Bank of America reduced their target price on shares of Allegiant Travel from $95.00 to $50.00 and set an "underperform" rating for the company in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Allegiant Travel has an average rating of "Hold" and a consensus price target of $67.00.

Allegiant Travel Trading Up 3.0 %

Allegiant Travel stock traded up $1.39 during trading hours on Thursday, reaching $48.32. 227,331 shares of the company's stock were exchanged, compared to its average volume of 424,985. 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 firm's 50 day simple moving average is $53.72 and its 200 day simple moving average is $73.36. Allegiant Travel has a twelve month low of $36.09 and a twelve month high of $107.57. The firm has a market capitalization of $886.09 million, a PE ratio of -3.61 and a beta of 1.57.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The transportation company reported $2.10 EPS for the quarter, topping the consensus estimate of $0.48 by $1.62. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. Research analysts predict that Allegiant Travel will post 7.7 earnings per share for the current 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.