Charles Schwab Investment Management Inc. Boosts Holdings in Allegiant Travel Company $ALGT

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Allegiant Travel Company by 10.7%, now owning 1.85% of the company, valued at approximately $17.4 million.
• Allegiant Travel recently reported strong earnings, with an EPS of $1.23, exceeding estimates and showcasing a 3.5% revenue growth year-over-year.
• Analysts have a consensus rating of "Hold" on Allegiant Travel, with a target price around $64.33, indicating varied confidence among different financial institutions.

Charles Schwab Investment Management Inc. lifted its position in shares of Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 10.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 337,120 shares of the transportation company's stock after buying an additional 32,478 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.85% of Allegiant Travel worth $17,412,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. T. Rowe Price Investment Management Inc. grew its holdings in shares of Allegiant Travel by 16.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 928,641 shares of the transportation company's stock worth $87,404,000 after buying an additional 131,561 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Allegiant Travel by 8.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 748,216 shares of the transportation company's stock worth $70,421,000 after acquiring an additional 57,737 shares during the last quarter. U S Global Investors Inc. boosted its position in shares of Allegiant Travel by 5.6% in the first quarter. U S Global Investors Inc. now owns 412,400 shares of the transportation company's stock worth $21,300,000 after acquiring an additional 21,822 shares during the last quarter. Emerald Advisers LLC boosted its position in shares of Allegiant Travel by 26.1% in the first quarter. Emerald Advisers LLC now owns 298,286 shares of the transportation company's stock worth $15,406,000 after acquiring an additional 61,826 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Allegiant Travel in the fourth quarter worth approximately $26,067,000. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ALGT shares. Barclays decreased their target price on shares of Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Raymond James Financial reissued a "strong-buy" rating and issued a $80.00 target price (down from $90.00) on shares of Allegiant Travel in a research report on Wednesday, May 7th. Evercore ISI raised shares of Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 target price on the stock in a research report on Tuesday, July 1st. Bank of America decreased their target price 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. Finally, TD Cowen raised their target price on shares of Allegiant Travel from $35.00 to $50.00 and gave the stock a "hold" rating in a research report on Monday, May 12th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $64.33.

Allegiant Travel Trading Down 0.3%

ALGT stock traded down $0.21 during midday trading on Thursday, reaching $62.30. 311,288 shares of the company's stock traded hands, compared to its average volume of 514,056. The company has a market capitalization of $1.14 billion, a P/E ratio of -3.91, a PEG ratio of 0.57 and a beta of 1.72. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.10 and a quick ratio of 1.07. Allegiant Travel Company has a fifty-two week low of $39.10 and a fifty-two week high of $107.57. The business has a 50-day moving average price of $54.59 and a two-hundred day moving average price of $56.04.

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