5,265 Shares in Allegiant Travel Company $ALGT Bought by AlphaQuest LLC

Key Points

• AlphaQuest LLC has acquired over 5,000 shares of Allegiant Travel Company, valued at approximately $272,000, as part of its investment strategy in the transportation sector.
• During the first quarter, several institutional investors have significantly increased their stakes in Allegiant Travel, with 85.81% of the stock currently owned by institutional shareholders.
• Allegiant Travel reported better-than-expected earnings, with an EPS of $1.23 for the latest quarter, surpassing analysts' estimates of $0.83.

AlphaQuest LLC bought a new stake in Allegiant Travel Company (NASDAQ:ALGT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,265 shares of the transportation company's stock, valued at approximately $272,000.

A number of other institutional investors also recently modified their holdings of ALGT. Donald Smith & CO. Inc. raised its stake in shares of 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. Jacobs Levy Equity Management Inc. bought a new position in shares of Allegiant Travel in the fourth quarter valued at approximately $26,067,000. Federated Hermes Inc. bought a new position in shares of Allegiant Travel in the first quarter valued at approximately $9,864,000. Voloridge Investment Management LLC bought a new position in shares of Allegiant Travel in the fourth quarter valued at approximately $16,713,000. Finally, Man Group plc bought a new position in shares of Allegiant Travel in the fourth quarter valued at approximately $8,639,000. Institutional investors own 85.81% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on ALGT. Susquehanna restated a "neutral" rating and issued a $50.00 price objective (up previously from $45.00) on shares of Allegiant Travel in a research report on Tuesday, August 5th. TD Cowen boosted their price objective on shares of Allegiant Travel from $35.00 to $50.00 and gave the stock a "hold" rating in a research report on Monday, May 12th. Barclays lowered their target price on shares of Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Evercore ISI raised shares of 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. Finally, UBS Group lowered their target price on shares of Allegiant Travel from $59.00 to $52.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $64.33.

Allegiant Travel Trading Up 0.6%

Shares of ALGT stock traded up $0.36 on Friday, hitting $62.66. The stock had a trading volume of 194,922 shares, compared to its average volume of 490,387. Allegiant Travel Company has a twelve month low of $39.10 and a twelve month high of $107.57. The firm has a market cap of $1.15 billion, a P/E ratio of -3.93, a PEG ratio of 0.57 and a beta of 1.71. The company has a current ratio of 1.10, a quick ratio of 1.07 and a debt-to-equity ratio of 1.68. The company has a fifty day moving average price of $54.84 and a two-hundred day moving average price of $55.50.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.40. Allegiant Travel had a negative net margin of 11.10% and a positive return on equity of 5.00%. The company had revenue of $689.40 million during the quarter, compared to analyst estimates of $685.58 million. During the same quarter in the previous year, the business earned $0.75 EPS. The firm's revenue was up 3.5% on a year-over-year basis. Allegiant Travel has set its FY 2015 guidance at 2.250- EPS. Q3 2025 guidance at -2.750--1.750 EPS. As a group, analysts forecast that Allegiant Travel Company will post 7.7 earnings per share for the current fiscal year.

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.