11,866 Shares in Allegiant Travel Company $ALGT Bought by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P purchased 11,866 shares of Allegiant Travel Company, valued at approximately $613,000, indicating increasing institutional interest in the company.
• Allegiant Travel's stock recently opened at $60.60, which is a significant rise of 8.4%, with a market cap of approximately $1.11 billion.
• The company reported earnings of $1.23 per share for the last quarter, exceeding analysts' expectations, and has indicated guidance for the upcoming fiscal year at 2.250 EPS.

Martingale Asset Management L P acquired a new stake in Allegiant Travel Company (NASDAQ:ALGT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,866 shares of the transportation company's stock, valued at approximately $613,000. Martingale Asset Management L P owned 0.07% of Allegiant Travel as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Wells Fargo & Company MN raised its stake in Allegiant Travel by 22.6% in the 4th quarter. Wells Fargo & Company MN now owns 11,184 shares of the transportation company's stock valued at $1,053,000 after acquiring an additional 2,059 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Allegiant Travel during the fourth quarter worth $383,000. Mariner LLC bought a new position in shares of Allegiant Travel during the fourth quarter worth approximately $371,000. Marshall Wace LLP grew its holdings in shares of Allegiant Travel by 89.8% during the 4th quarter. Marshall Wace LLP now owns 11,010 shares of the transportation company's stock worth $1,036,000 after purchasing an additional 5,209 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position 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 buying an additional 57,737 shares in the last quarter. 85.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ALGT. Bank of America reduced their price target 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. Evercore ISI upgraded Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 price objective on the stock in a research report on Tuesday, July 1st. Susquehanna reiterated a "neutral" rating and issued a $50.00 target price (up from $45.00) on shares of Allegiant Travel in a research report on Tuesday, August 5th. TD Cowen lifted their price target on Allegiant Travel from $35.00 to $50.00 and gave the company a "hold" rating in a research note on Monday, May 12th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $80.00 price objective (down previously from $90.00) on shares of Allegiant Travel in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $64.33.

Allegiant Travel Trading Up 0.1%

Shares of NASDAQ:ALGT traded up $0.09 during midday trading on Friday, reaching $62.39. The company's stock had a trading volume of 114,903 shares, compared to its average volume of 444,130. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -3.92, a PEG ratio of 0.57 and a beta of 1.72. Allegiant Travel Company has a fifty-two week low of $39.10 and a fifty-two week high of $107.57. The firm has a 50 day moving average price of $54.59 and a two-hundred day moving average price of $56.04. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.07 and a current ratio of 1.10.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The transportation company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.40. The company had revenue of $689.40 million during 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%. Allegiant Travel's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 EPS. Allegiant Travel has set its FY 2015 guidance at 2.250- EPS. Q3 2025 guidance at -2.750--1.750 EPS. As a group, analysts forecast that Allegiant Travel Company will post 7.7 earnings per share for the current year.

About Allegiant Travel

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.