Allegiant Travel (NASDAQ:ALGT) Shares Bought by Ameriprise Financial Inc.

Ameriprise Financial Inc. grew its position in Allegiant Travel (NASDAQ:ALGT) by 137.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,470 shares of the transportation company’s stock after buying an additional 69,786 shares during the period. Ameriprise Financial Inc. owned 0.66% of Allegiant Travel worth $11,339,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Crews Bank & Trust acquired a new position in Allegiant Travel in the fourth quarter valued at approximately $25,000. Jones Financial Companies Lllp grew its holdings in shares of Allegiant Travel by 94.5% during the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company’s stock worth $43,000 after purchasing an additional 223 shares during the period. Sterling Capital Management LLC grew its holdings in shares of Allegiant Travel by 803.6% during the 4th quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company’s stock worth $47,000 after purchasing an additional 442 shares during the period. Signaturefd LLC increased its position in shares of Allegiant Travel by 30.3% during the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock worth $56,000 after purchasing an additional 138 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Allegiant Travel in the 4th quarter valued at about $75,000. Institutional investors and hedge funds own 85.81% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on ALGT. TD Cowen increased their target price on shares of Allegiant Travel from $35.00 to $50.00 and gave the stock a “hold” rating in a research note on Monday, May 12th. 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. UBS Group boosted their target price on Allegiant Travel from $45.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Morgan Stanley upped their price target on Allegiant Travel from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, Barclays dropped their price objective on Allegiant Travel from $60.00 to $52.00 and set an “equal weight” rating for the company in a research note on Thursday, May 8th. One investment 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’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $64.70.

Allegiant Travel Price Performance

ALGT stock opened at $56.13 on Monday. The business’s 50-day moving average is $50.25 and its two-hundred day moving average is $72.76. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The firm has a market capitalization of $1.02 billion, a P/E ratio of -4.20 and a beta of 1.78. Allegiant Travel has a 1 year low of $36.09 and a 1 year high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Tuesday, May 6th. The transportation company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.27. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. The firm had revenue of $699.07 million for the quarter, compared to analysts’ expectations of $700.00 million. During the same quarter last year, the company earned $0.57 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. Analysts anticipate that Allegiant Travel will post 7.7 earnings per share for the current fiscal year.

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.