Allegiant Travel Company (NASDAQ:ALGT) Shares Sold by Oldfield Partners LLP

Key Points

• Oldfield Partners LLP reduced its stake in Allegiant Travel Company by 38.1% in the first quarter, holding about 0.3% of the company's stock by the end of the period.
• Wall Street analysts provide mixed ratings for Allegiant Travel, with price targets ranging from $45.00 to $80.00, suggesting a general consensus rating of "Hold" for the stock.
• Allegiant Travel reported earnings of $1.81 EPS for the last quarter, surpassing estimates, while revenue increased by 6.5% compared to the previous year.

Oldfield Partners LLP lessened its stake in Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 38.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 18,838 shares of the transportation company's stock after selling 11,602 shares during the quarter. Allegiant Travel accounts for approximately 0.3% of Oldfield Partners LLP's portfolio, making the stock its 19th biggest position. Oldfield Partners LLP owned approximately 0.10% of Allegiant Travel worth $973,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ALGT. Raymond James Financial Inc. purchased a new stake in shares of Allegiant Travel during the 4th quarter worth $383,000. Commonwealth Equity Services LLC purchased a new stake in Allegiant Travel during the fourth quarter worth approximately $270,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Allegiant Travel in the fourth quarter valued at approximately $292,000. Sei Investments Co. boosted its holdings in Allegiant Travel by 68.1% in the fourth quarter. Sei Investments Co. now owns 18,908 shares of the transportation company's stock valued at $1,780,000 after purchasing an additional 7,657 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Allegiant Travel in the fourth quarter valued at approximately $75,000. 85.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALGT has been the topic of several research analyst reports. UBS Group started coverage on shares of Allegiant Travel in a research note on Monday, July 7th. They set a "neutral" rating and a $59.00 price target on the stock. Bank of America cut their target price on Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating on the stock in a research report on Tuesday, July 8th. Evercore ISI raised Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 target price for the company in a report on Tuesday, July 1st. Raymond James Financial restated a "strong-buy" rating and set a $80.00 price target (down previously from $90.00) on shares of Allegiant Travel in a research note on Wednesday, May 7th. Finally, Susquehanna reduced their price objective on Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Allegiant Travel currently has an average rating of "Hold" and a consensus price target of $65.11.

Allegiant Travel Stock Performance

Shares of ALGT stock opened at $50.63 on Friday. The stock's 50-day moving average price is $54.40 and its 200 day moving average price is $63.42. The company has a quick ratio of 0.87, a current ratio of 0.90 and a debt-to-equity ratio of 1.57. The stock has a market capitalization of $924.25 million, a PE ratio of -4.38, a price-to-earnings-growth ratio of 0.42 and a beta of 1.71. Allegiant Travel Company has a 52-week low of $36.08 and a 52-week high of $107.57.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last released its earnings results on Tuesday, May 6th. The transportation company reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.27. Allegiant Travel had a positive return on equity of 5.46% and a negative net margin of 8.11%. The business had revenue of $699.07 million for the quarter, compared to analyst estimates of $700.00 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. The company's revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities research analysts forecast that Allegiant Travel Company will post 7.7 EPS for the current year.

Allegiant Travel 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.

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