American Century Companies Inc. Purchases 69,282 Shares of Allegiant Travel Company $ALGT

Key Points

• American Century Companies Inc. increased its stake in Allegiant Travel Company by 12.3%, owning a total of 633,608 shares valued at approximately $32.7 million.
• Analyst ratings varied, with Bank of America lowering its price target from $50 to $45 and a consensus rating of "Hold" with an average price target of $64.33.
• Allegiant Travel reported $1.23 earnings per share in its latest quarter, exceeding estimates, with revenues of $689.4 million, marking a 3.5% year-over-year increase.

American Century Companies Inc. boosted its stake in Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 12.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 633,608 shares of the transportation company's stock after acquiring an additional 69,282 shares during the quarter. American Century Companies Inc. owned 3.47% of Allegiant Travel worth $32,726,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALGT. Farther Finance Advisors LLC lifted its position in Allegiant Travel by 489.1% during the 1st quarter. Farther Finance Advisors LLC now owns 542 shares of the transportation company's stock worth $28,000 after buying an additional 450 shares in the last quarter. Sterling Capital Management LLC lifted its position in Allegiant Travel by 803.6% during the 4th quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company's stock worth $47,000 after buying an additional 442 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Allegiant Travel by 376.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,034 shares of the transportation company's stock worth $53,000 after buying an additional 817 shares in the last quarter. CWM LLC lifted its position in Allegiant Travel by 400.8% during the 1st quarter. CWM LLC now owns 2,559 shares of the transportation company's stock worth $132,000 after buying an additional 2,048 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Allegiant Travel by 1,486.7% in the 4th quarter. Russell Investments Group Ltd. now owns 1,904 shares of the transportation company's stock valued at $179,000 after purchasing an additional 1,784 shares during the period. 85.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. TD Cowen increased their price target on shares of Allegiant Travel from $35.00 to $50.00 and gave the company a "hold" rating in a report on Monday, May 12th. Raymond James Financial restated a "strong-buy" rating and set a $80.00 target price (down previously from $90.00) on shares of Allegiant Travel in a research report on Wednesday, May 7th. Bank of America decreased their target price on shares of Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating on the stock in a research report on Tuesday, July 8th. Susquehanna restated a "neutral" rating and set a $50.00 target price (up previously from $45.00) on shares of Allegiant Travel in a research report on Tuesday, August 5th. Finally, Morgan Stanley reduced their price target on shares of Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating on the stock in a research report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $64.33.

Allegiant Travel Trading Up 3.0%

Shares of ALGT stock traded up $1.78 during trading hours on Tuesday, hitting $61.38. 201,117 shares of the company's stock traded hands, compared to its average volume of 446,020. The stock's 50 day simple moving average is $53.95 and its 200 day simple moving average is $56.14. The stock has a market cap of $1.13 billion, a PE ratio of -3.85, a price-to-earnings-growth ratio of 0.55 and a beta of 1.72. Allegiant Travel Company has a 12 month low of $39.10 and a 12 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.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last released 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 firm had revenue of $689.40 million during the quarter, compared to the consensus estimate of $685.58 million. During the same quarter last year, the firm earned $0.75 earnings per share. The company's revenue for the quarter 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. On average, sell-side analysts anticipate 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.