37,934 Shares in Allegiant Travel Company $ALGT Bought by VELA Investment Management LLC

Key Points

• VELA Investment Management purchased 37,934 Allegiant Travel shares worth approximately $4.46 million, acquiring a 0.14% stake. Institutional investors and hedge funds collectively own 85.81% of the company.
• Allegiant reported quarterly EPS of $2.19, beating estimates of $1.27, while revenue rose 36.8% year over year to $943.49 million but fell short of expectations.
• Analyst sentiment is moderately bullish, with an average rating of “Moderate Buy” and a $128.38 price target, compared with the stock’s opening price of $78.16.

VELA Investment Management LLC bought a new position in shares of Allegiant Travel Company (NASDAQ:ALGT - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 37,934 shares of the transportation company's stock, valued at approximately $4,461,000. VELA Investment Management LLC owned approximately 0.14% of Allegiant Travel as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC increased its stake in Allegiant Travel by 41.6% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 41,884 shares of the transportation company's stock valued at $4,926,000 after buying an additional 12,312 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of Allegiant Travel during the 2nd quarter worth about $26,232,000. Empowered Funds LLC bought a new position in shares of Allegiant Travel in the 2nd quarter valued at about $12,711,000. Public Employees Retirement System of Ohio bought a new position in shares of Allegiant Travel in the 2nd quarter valued at about $2,572,000. Finally, Corient Private Wealth LP acquired a new stake in shares of Allegiant Travel in the second quarter valued at about $3,597,000. 85.81% of the stock is currently owned by institutional investors and hedge funds.

Allegiant Travel Price Performance

ALGT stock opened at $78.16 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.80 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $2.14 billion, a PE ratio of 55.43, a PEG ratio of 0.22 and a beta of 1.50. Allegiant Travel Company has a 1-year low of $57.11 and a 1-year high of $123.63. The business's 50 day simple moving average is $95.03 and its 200 day simple moving average is $89.87.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The transportation company reported $2.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.92. Allegiant Travel had a return on equity of 10.83% and a net margin of 0.90%.The business had revenue of $943.49 million for the quarter, compared to analysts' expectations of $982.70 million. During the same quarter in the prior year, the business earned $1.23 EPS. The firm's revenue for the quarter was up 36.8% on a year-over-year basis. Allegiant Travel has set its Q3 2026 guidance at -1.000--0.000 EPS. As a group, research analysts anticipate that Allegiant Travel Company will post 6.83 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on ALGT. Barclays started coverage on shares of Allegiant Travel in a report on Wednesday, July 8th. They set an "overweight" rating and a $145.00 target price on the stock. Zacks Research raised shares of Allegiant Travel from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 17th. UBS Group lifted their price objective on shares of Allegiant Travel from $103.00 to $111.00 and gave the company a "neutral" rating in a research report on Wednesday, August 5th. Bank of America boosted their price objective on shares of Allegiant Travel from $100.00 to $120.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 1st. Finally, Citigroup raised shares of Allegiant Travel from a "neutral" rating to a "buy" rating and upped their target price for the company from $98.00 to $156.00 in a report on Friday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $128.38.

Allegiant Travel Company Profile

Allegiant Travel Company is a holding company that operates Allegiant Air, a low‐cost leisure airline offering scheduled and charter air service. The company focuses on connecting underserved secondary markets with popular vacation destinations across the United States. By targeting price‐sensitive leisure travelers, Allegiant Air operates a point‐to‐point network that avoids the traditional hub‐and‐spoke model, providing non‐stop flights from smaller cities to resort and entertainment hubs.

In addition to its core flight operations, Allegiant Travel Company offers packaged travel services that include hotel accommodations, rental cars and attraction tickets through its online portal.

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