Allegiant Travel Company $ALGT Shares Newly Purchased by Bank of America Corp DE

Key Points

• Bank of America purchased 94,278 Allegiant Travel shares worth approximately $11.1 million in the second quarter, while institutional investors collectively own 85.81% of the company.
• Allegiant reported quarterly earnings of $2.19 per share, beating estimates of $1.27, while revenue rose 36.8% year over year to $943.5 million but fell short of expectations.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $125.77; shares recently traded at $79.09, down from their 50-day and 200-day moving averages.

Bank of America Corp DE purchased a new position in shares of Allegiant Travel Company (NASDAQ:ALGT - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 94,278 shares of the transportation company's stock, valued at approximately $11,087,000. Bank of America Corp DE owned approximately 0.34% of Allegiant Travel as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ALGT. BlackRock Inc. bought a new position in shares of Allegiant Travel in the second quarter worth about $416,591,000. Donald Smith & CO. Inc. acquired a new stake in shares of Allegiant Travel in the second quarter valued at approximately $175,636,000. Bank of New York Mellon Corp bought a new position in Allegiant Travel in the 2nd quarter worth approximately $33,013,000. U S Global Investors Inc. raised its position in Allegiant Travel by 5.1% in the 1st quarter. U S Global Investors Inc. now owns 299,225 shares of the transportation company's stock worth $24,249,000 after purchasing an additional 14,540 shares during the last quarter. Finally, Heartland Advisors Inc. acquired a new position in Allegiant Travel during the 2nd quarter worth $21,737,000. Institutional investors own 85.81% of the company's stock.

Allegiant Travel Trading Up 2.9%

ALGT opened at $79.09 on Friday. The firm's fifty day moving average is $85.72 and its two-hundred day moving average is $87.88. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.80 and a current ratio of 0.83. The firm has a market cap of $2.16 billion, a PE ratio of 56.09, a price-to-earnings-growth ratio of 0.23 and a beta of 1.50. Allegiant Travel Company has a twelve month low of $57.11 and a twelve month high of $123.63.

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

Wall Street Analysts Forecast Growth

ALGT has been the topic of several research reports. Weiss Ratings raised Allegiant Travel from a "sell (d-)" rating to a "sell (d)" rating in a research note on Tuesday, August 11th. The Goldman Sachs Group upped their target price on shares of Allegiant Travel from $125.00 to $142.00 and gave the company a "buy" rating in a research report on Thursday, July 2nd. UBS Group raised shares of Allegiant Travel from a "neutral" rating to a "buy" rating and reduced their target price for the company from $111.00 to $107.00 in a research note on Sunday, September 13th. Susquehanna lowered their price target on shares of Allegiant Travel from $132.00 to $110.00 and set a "neutral" rating for the company in a research report on Friday, August 7th. Finally, Morgan Stanley boosted their price target on shares of Allegiant Travel from $100.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $125.77.

About Allegiant Travel

Allegiant Travel Company is a leisure-focused travel and aviation company headquartered in Las Vegas, Nevada. Its principal subsidiary, Allegiant Air, operates scheduled and charter passenger flights, primarily connecting smaller regional airports with popular vacation destinations in the United States.

Allegiant Air's business model emphasizes low base fares and a range of optional services, including baggage, seat selection, priority boarding and other travel-related products. The airline primarily serves leisure travelers and operates routes to destinations such as Florida, Las Vegas, Arizona and other vacation markets, with service designed around demand for leisure travel rather than extensive daily connectivity between major business centers.

Allegiant Travel was established in 1997, and Allegiant Air began scheduled passenger operations in 1999.

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