Jacobs Levy Equity Management Inc. Has $20.14 Million Stock Position in Allegiant Travel Company $ALGT

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Allegiant Travel by 40.8%, now owning 2.14% of the company valued at approximately $20.1 million.
• Allegiant Travel reported an earnings per share (EPS) of $1.23 for the latest quarter, exceeding analysts' expectations of $0.83, with revenue of $689.40 million.
• Analyst ratings for ALGT show a consensus of a "Hold" rating, with an average target price of $64.33, amidst varied outlooks from different investment firms.

Jacobs Levy Equity Management Inc. increased its stake in Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 40.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 389,832 shares of the transportation company's stock after buying an additional 112,875 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 2.14% of Allegiant Travel worth $20,135,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Donald Smith & CO. Inc. lifted its stake in Allegiant Travel by 32.6% in the first quarter. Donald Smith & CO. Inc. now owns 1,350,447 shares of the transportation company's stock valued at $69,751,000 after acquiring an additional 331,998 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Allegiant Travel by 5.8% in the first quarter. T. Rowe Price Investment Management Inc. now owns 982,962 shares of the transportation company's stock valued at $50,770,000 after acquiring an additional 54,321 shares during the last quarter. American Century Companies Inc. lifted its stake in Allegiant Travel by 12.3% in the 1st quarter. American Century Companies Inc. now owns 633,608 shares of the transportation company's stock valued at $32,726,000 after purchasing an additional 69,282 shares during the last quarter. U S Global Investors Inc. lifted its stake in Allegiant Travel by 5.6% in the 1st quarter. U S Global Investors Inc. now owns 412,400 shares of the transportation company's stock valued at $21,300,000 after purchasing an additional 21,822 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Allegiant Travel by 10.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 337,120 shares of the transportation company's stock valued at $17,412,000 after purchasing an additional 32,478 shares during the last quarter. Institutional investors and hedge funds own 85.81% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ALGT. Evercore ISI raised Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 price objective for the company in a research report on Tuesday, July 1st. Morgan Stanley cut their price target on Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating for the company in a report on Monday, July 7th. UBS Group cut their price target on Allegiant Travel from $59.00 to $52.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Susquehanna reaffirmed a "neutral" rating and set a $50.00 price target (up previously from $45.00) on shares of Allegiant Travel in a report on Tuesday, August 5th. Finally, Bank of America cut their target price on shares of Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating for the company in a research note on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $64.33.

Allegiant Travel Stock Performance

Shares of ALGT traded down $0.27 during midday trading on Friday, reaching $64.50. 87,299 shares of the stock were exchanged, compared to its average volume of 439,405. Allegiant Travel Company has a twelve month low of $39.80 and a twelve month high of $107.57. The company has a quick ratio of 1.07, a current ratio of 1.10 and a debt-to-equity ratio of 1.68. The stock's 50 day simple moving average is $56.25 and its 200 day simple moving average is $54.64. The company has a market cap of $1.18 billion, a P/E ratio of -4.05, a PEG ratio of 0.57 and a beta of 1.71.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The transportation company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.40. The business had revenue of $689.40 million during 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%. The business's revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.75 EPS. Allegiant Travel has set its FY 2015 guidance at 2.250- EPS. Q3 2025 guidance at -2.750--1.750 EPS. On average, sell-side analysts expect that Allegiant Travel Company will post 7.7 earnings per share for the current 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.