Bank of America Corp DE Has $5.01 Million Stake in Allegiant Travel Company $ALGT

Key Points

• Bank of America reduced its Allegiant Travel stake by 45.5% in the first quarter, selling 51,715 shares and retaining 61,876 shares worth approximately $5.01 million. Institutional investors collectively own 85.81% of ALGT.
• Analyst sentiment is broadly positive: Allegiant has a “Moderate Buy” consensus rating and an average price target of $128.38, with several firms recently upgrading the stock or raising their targets.
• Allegiant beat quarterly EPS estimates, reporting $2.19 versus the $1.27 consensus, while revenue rose 36.8% year over year but missed estimates. Forecast revisions were mixed, with higher longer-term estimates but reduced projections for several 2026–2028 periods.

Bank of America Corp DE lessened its position in shares of Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 45.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,876 shares of the transportation company's stock after selling 51,715 shares during the period. Bank of America Corp DE owned 0.34% of Allegiant Travel worth $5,014,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC grew its stake in Allegiant Travel by 339.6% during the first quarter. Parallel Advisors LLC now owns 488 shares of the transportation company's stock worth $40,000 after purchasing an additional 377 shares during the period. NewEdge Advisors LLC grew its stake in shares of Allegiant Travel by 43.7% in the 2nd quarter. NewEdge Advisors LLC now owns 1,227 shares of the transportation company's stock valued at $67,000 after buying an additional 373 shares during the period. iSAM Funds UK Ltd acquired a new stake in shares of Allegiant Travel in the 3rd quarter valued at about $69,000. MidFirst Bank bought a new stake in Allegiant Travel in the 4th quarter valued at about $114,000. Finally, State of Wyoming bought a new stake in Allegiant Travel in the 2nd quarter valued at about $159,000. Institutional investors and hedge funds own 85.81% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ALGT shares. Melius Research upgraded Allegiant Travel from a "hold" rating to a "buy" rating and set a $160.00 price target on the stock in a report on Tuesday, July 7th. The Goldman Sachs Group boosted their price objective on Allegiant Travel from $125.00 to $142.00 and gave the company a "buy" rating in a report on Thursday, July 2nd. Citigroup raised Allegiant Travel from a "neutral" rating to a "buy" rating and upped their target price for the stock from $98.00 to $156.00 in a research report on Friday, June 26th. Morgan Stanley increased their target price on Allegiant Travel from $100.00 to $115.00 and gave the stock an "equal weight" rating in a report on Monday, July 6th. Finally, Bank of America lifted their price target on shares of Allegiant Travel from $100.00 to $120.00 and gave the company a "neutral" rating in a research report on Wednesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $128.38.

Allegiant Travel Price Performance

Allegiant Travel stock opened at $80.31 on Friday. Allegiant Travel Company has a 52 week low of $57.11 and a 52 week high of $123.63. The company's 50 day moving average price is $99.42 and its two-hundred day moving average price is $91.63. The stock has a market cap of $2.20 billion, a P/E ratio of 56.96, a P/E/G ratio of 0.24 and a beta of 1.53. The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 1.38.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last released its earnings results on Tuesday, August 4th. The transportation company reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.92. The company had revenue of $943.49 million during the quarter, compared to analyst estimates of $982.70 million. Allegiant Travel had a return on equity of 10.83% and a net margin of 0.90%.Allegiant Travel's quarterly revenue was up 36.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.23 earnings per share. Allegiant Travel has set its Q3 2026 guidance at -1.000--0.000 EPS. On average, equities analysts predict that Allegiant Travel Company will post 6.83 earnings per share for the current year.

Allegiant Travel News Roundup

Here are the key news stories impacting Allegiant Travel this week:

• Positive Sentiment: Zacks raised its FY2026 EPS estimate to $8.07 from $7.53 and its FY2028 estimate to $13.25 from $12.97, signaling improved longer-term earnings expectations.
• Positive Sentiment: Estimates also increased for Q1 2027, to $2.66 from $1.58; Q2 2027, to $2.56 from $2.05; and Q1 2028, to $2.96 from $2.61.
• Neutral Sentiment: Zacks reiterated its “Strong-Buy” rating on ALGT. The current-year consensus EPS estimate is $6.83, although another estimate cited in the reports was $6.95.
• Negative Sentiment: Zacks cut its Q3 2026 EPS forecast to $0.00 from $0.10 and reduced its Q4 2026 estimate to $2.11 from $2.42, pointing to weaker near-term earnings momentum.
• Negative Sentiment: Forecasts were lowered for FY2027, to $11.27 from $12.83; Q3 2027, to $2.90 from $3.96; Q4 2027, to $3.15 from $5.24; and Q2 2028, to $2.92 from $3.16. These cuts are significant and may weigh more heavily on valuation than the upward revisions to earlier periods.

About Allegiant Travel

Allegiant Travel Company is a holding company that operates Allegiant Air, a low‐cost leisure airline offering scheduled and charter air service. The company focuses on connecting underserved secondary markets with popular vacation destinations across the United States. By targeting price‐sensitive leisure travelers, Allegiant Air operates a point‐to‐point network that avoids the traditional hub‐and‐spoke model, providing non‐stop flights from smaller cities to resort and entertainment hubs.

In addition to its core flight operations, Allegiant Travel Company offers packaged travel services that include hotel accommodations, rental cars and attraction tickets through its online portal.

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