Allegiant Travel Company $ALGT Shares Bought by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp dramatically increased its stake in Allegiant Travel, lifting holdings by 9,819.3% in Q1 to 35,015 shares valued at about $2.84 million.
• Allegiant Travel reported better-than-expected quarterly results, posting $3.77 EPS and $732.43 million in revenue, both above analyst forecasts.
• Analyst sentiment is mixed but generally positive, with the stock carrying a Moderate Buy consensus and an average price target of $128.08 after several recent upgrades.

Fifth Third Bancorp lifted its holdings in Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 9,819.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 35,015 shares of the transportation company's stock after buying an additional 34,662 shares during the quarter. Fifth Third Bancorp owned approximately 0.19% of Allegiant Travel worth $2,838,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of ALGT. Price T Rowe Associates Inc. MD lifted its holdings in Allegiant Travel by 0.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,862 shares of the transportation company's stock worth $1,694,000 after acquiring an additional 106 shares during the last quarter. Signaturefd LLC raised its position in shares of Allegiant Travel by 27.3% during the 4th quarter. Signaturefd LLC now owns 546 shares of the transportation company's stock worth $47,000 after purchasing an additional 117 shares during the period. Silver Oak Securities Incorporated boosted its position in Allegiant Travel by 1.2% during the 1st quarter. Silver Oak Securities Incorporated now owns 10,545 shares of the transportation company's stock valued at $855,000 after purchasing an additional 125 shares during the period. Millennium Management LLC grew its stake in Allegiant Travel by 0.5% during the 4th quarter. Millennium Management LLC now owns 27,453 shares of the transportation company's stock worth $2,341,000 after buying an additional 134 shares during the last quarter. Finally, FourThought Financial Partners LLC increased its position in Allegiant Travel by 4.1% in the fourth quarter. FourThought Financial Partners LLC now owns 3,458 shares of the transportation company's stock worth $295,000 after buying an additional 137 shares during the period. 85.81% of the stock is owned by institutional investors and hedge funds.

Allegiant Travel Trading Up 1.3%

Allegiant Travel stock opened at $102.17 on Tuesday. Allegiant Travel Company has a 12-month low of $42.56 and a 12-month high of $123.63. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.91 and a quick ratio of 0.87. The stock has a market capitalization of $1.88 billion, a PE ratio of -51.08, a price-to-earnings-growth ratio of 0.26 and a beta of 1.51. The firm has a 50 day simple moving average of $95.83 and a 200-day simple moving average of $91.58.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last announced its earnings results on Thursday, April 30th. The transportation company reported $3.77 EPS for the quarter, topping the consensus estimate of $3.40 by $0.37. The firm had revenue of $732.43 million for the quarter, compared to analysts' expectations of $711.01 million. Allegiant Travel had a positive return on equity of 10.07% and a negative net margin of 1.30%.The firm's quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.11 earnings per share. Allegiant Travel has set its Q2 2026 guidance at -1.000--0.000 EPS. As a group, equities research analysts expect that Allegiant Travel Company will post 7.49 EPS for the current fiscal year.

Analysts Set New Price Targets

ALGT has been the subject of several analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Allegiant Travel in a report on Friday, May 29th. Zacks Research lowered shares of Allegiant Travel from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 1st. Citigroup upgraded shares of Allegiant Travel from a "neutral" rating to a "buy" rating and upped their target price for the stock from $98.00 to $156.00 in a research report on Friday, June 26th. Melius Research upgraded shares of Allegiant Travel from a "hold" rating to a "buy" rating and set a $160.00 price target on the stock in a research note on Tuesday, July 7th. Finally, Wall Street Zen raised Allegiant Travel from a "hold" rating to a "buy" rating in a report on Saturday, July 4th. Ten equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $128.08.

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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