Allegiant Travel Company $ALGT Shares Sold by Empowered Funds LLC

Key Points

• Empowered Funds LLC cut its Allegiant Travel stake by 22% in the first quarter, selling 20,795 shares and retaining 73,587 shares worth approximately $5.96 million. Institutional investors collectively own 85.81% of the company.
• Analyst sentiment remains positive but mixed: nine analysts rate ALGT a Buy, five Hold, and one Sell, producing a “Moderate Buy” consensus and an average price target of $127. Recent targets range from $110 to $156.
• Allegiant reported quarterly EPS of $2.19, beating estimates of $1.27, while revenue of $943.49 million fell short of the $982.70 million consensus estimate. Shares opened at $85.75, below their 50-day average of $101.13.

Empowered Funds LLC lessened its stake in Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 22.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,587 shares of the transportation company's stock after selling 20,795 shares during the quarter. Empowered Funds LLC owned 0.40% of Allegiant Travel worth $5,963,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parallel Advisors LLC grew its position in Allegiant Travel by 339.6% during the first quarter. Parallel Advisors LLC now owns 488 shares of the transportation company's stock worth $40,000 after buying an additional 377 shares during the period. iSAM Funds UK Ltd acquired a new stake in shares of Allegiant Travel during the 3rd quarter valued at approximately $69,000. NewEdge Advisors LLC boosted its stake in shares of Allegiant Travel by 43.7% during the 2nd quarter. NewEdge Advisors LLC now owns 1,227 shares of the transportation company's stock worth $67,000 after acquiring an additional 373 shares in the last quarter. MidFirst Bank purchased a new stake in shares of Allegiant Travel during the 4th quarter worth approximately $114,000. Finally, Evergreen Capital Management LLC purchased a new stake in shares of Allegiant Travel during the 4th quarter worth approximately $208,000. Institutional investors and hedge funds own 85.81% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Wall Street Zen downgraded Allegiant Travel from a "buy" rating to a "hold" rating in a research note on Saturday. Bank of America boosted their target price on Allegiant Travel from $100.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 1st. Citigroup raised 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. Susquehanna dropped their price target on 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, JPMorgan Chase & Co. started coverage on Allegiant Travel in a research note on Wednesday, July 1st. They set an "overweight" rating and a $156.00 price target for the company. Nine equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $127.00.

Allegiant Travel Stock Performance

Shares of ALGT opened at $85.75 on Monday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.83 and a quick ratio of 0.80. The firm has a 50 day simple moving average of $101.13 and a 200-day simple moving average of $92.48. Allegiant Travel Company has a 1-year low of $53.70 and a 1-year high of $123.63. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of 60.82, a price-to-earnings-growth ratio of 0.23 and a beta of 1.53.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its earnings results on Tuesday, August 4th. The transportation company reported $2.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.92. The firm had revenue of $943.49 million for the quarter, compared to analyst estimates of $982.70 million. Allegiant Travel had a return on equity of 10.83% and a net margin of 0.90%.Allegiant Travel's revenue was up 36.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.23 EPS. Allegiant Travel has set its Q3 2026 guidance at -1.000--0.000 EPS. Equities analysts forecast that Allegiant Travel Company will post 7.14 EPS for the current fiscal year.

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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