Victory Capital Management Inc. Has $1.37 Million Holdings in Allegiant Travel Company (NASDAQ:ALGT)

Key Points

• Victory Capital Management Inc. significantly increased its stake in Allegiant Travel Company, boosting its holdings by 890.4% to 26,563 shares during the first quarter.
• Institutional investors currently own 85.81% of Allegiant Travel's stock, with other firms like Sterling Capital Management and Russell Investments also making substantial purchases recently.
• Analysts have mixed opinions on Allegiant Travel, with the average rating being a "Hold" and an average target price of $65.11 following various rating changes from different financial institutions.

Victory Capital Management Inc. grew its holdings in Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 890.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,563 shares of the transportation company's stock after purchasing an additional 23,881 shares during the quarter. Victory Capital Management Inc. owned approximately 0.14% of Allegiant Travel worth $1,372,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ALGT. CWM LLC lifted its stake in shares of Allegiant Travel by 400.8% during the first quarter. CWM LLC now owns 2,559 shares of the transportation company's stock valued at $132,000 after buying an additional 2,048 shares during the period. Emerald Advisers LLC raised its stake in Allegiant Travel by 26.1% during the first quarter. Emerald Advisers LLC now owns 298,286 shares of the transportation company's stock worth $15,406,000 after purchasing an additional 61,826 shares during the period. New York State Common Retirement Fund raised its stake in Allegiant Travel by 8.5% during the first quarter. New York State Common Retirement Fund now owns 6,003 shares of the transportation company's stock worth $310,000 after purchasing an additional 470 shares during the period. Emerald Mutual Fund Advisers Trust raised its stake in Allegiant Travel by 29.5% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 163,148 shares of the transportation company's stock worth $8,427,000 after purchasing an additional 37,121 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Allegiant Travel by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 72,503 shares of the transportation company's stock valued at $3,745,000 after acquiring an additional 1,915 shares during the period. 85.81% of the stock is currently owned by institutional investors and hedge funds.

Allegiant Travel Trading Down 6.8%

Allegiant Travel stock traded down $3.52 during midday trading on Friday, hitting $48.12. 599,761 shares of the stock were exchanged, compared to its average volume of 400,086. The company has a fifty day simple moving average of $54.10 and a two-hundred day simple moving average of $61.45. Allegiant Travel Company has a 52 week low of $36.08 and a 52 week high of $107.57. The stock has a market capitalization of $878.19 million, a PE ratio of -4.16, a P/E/G ratio of 0.40 and a beta of 1.72. The company has a quick ratio of 0.87, a current ratio of 0.90 and a debt-to-equity ratio of 1.57.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last announced its earnings results on Tuesday, May 6th. The transportation company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.54 by $0.27. The firm had revenue of $699.07 million for the quarter, compared to the consensus estimate of $700.00 million. Allegiant Travel had a negative net margin of 8.11% and a positive return on equity of 5.46%. The business's quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the company posted $0.57 EPS. Equities research analysts anticipate that Allegiant Travel Company will post 7.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ALGT. Raymond James Financial reissued a "strong-buy" rating and set a $80.00 price objective (down from $90.00) on shares of Allegiant Travel in a report on Wednesday, May 7th. UBS Group began coverage on shares of Allegiant Travel in a research note on Monday, July 7th. They issued a "neutral" rating and a $59.00 price objective on the stock. Susquehanna decreased their price objective on shares of Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, April 7th. TD Cowen increased their price objective on shares of Allegiant Travel from $35.00 to $50.00 and gave the company a "hold" rating in a research note on Monday, May 12th. Finally, Barclays decreased their price objective on shares of Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $65.11.

About Allegiant Travel

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.