Bank of New York Mellon Corp Acquires Shares of 280,720 Allegiant Travel Company $ALGT

Key Points

• Bank of New York Mellon acquired 280,720 Allegiant Travel shares worth approximately $33 million, giving it a 1.52% stake. Institutional investors collectively own 85.81% of the airline.
• Allegiant reported quarterly EPS of $2.19, beating estimates of $1.27, while revenue rose 36.8% year over year to $943.5 million but fell short of expectations.
• ALGT shares opened at $78.94, down 1.7%, despite analysts maintaining a “Moderate Buy” consensus and an average price target of $128.38; recent forecasts include both higher long-term EPS estimates and cuts to near-term profitability expectations.

Bank of New York Mellon Corp bought a new stake in shares of Allegiant Travel Company (NASDAQ:ALGT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 280,720 shares of the transportation company's stock, valued at approximately $33,013,000. Bank of New York Mellon Corp owned approximately 1.52% of Allegiant Travel at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Allegiant Travel by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,202 shares of the transportation company's stock worth $475,000 after purchasing an additional 394 shares during the last quarter. Creative Planning increased its holdings in Allegiant Travel by 29.1% in the second quarter. Creative Planning now owns 6,915 shares of the transportation company's stock valued at $380,000 after buying an additional 1,558 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in Allegiant Travel during the second quarter valued at approximately $350,000. Invesco Ltd. raised its stake in Allegiant Travel by 3.9% during the second quarter. Invesco Ltd. now owns 121,339 shares of the transportation company's stock valued at $6,668,000 after buying an additional 4,602 shares in the last quarter. Finally, First Trust Advisors LP bought a new position in Allegiant Travel during the 2nd quarter worth approximately $654,000. 85.81% of the stock is owned by hedge funds and other institutional investors.

Allegiant Travel Trading Down 1.7%

Shares of ALGT stock opened at $78.94 on Friday. The stock has a 50-day simple moving average of $98.99 and a 200 day simple moving average of $91.54. The stock has a market capitalization of $2.16 billion, a P/E ratio of 55.99, a P/E/G ratio of 0.23 and a beta of 1.53. Allegiant Travel Company has a fifty-two week low of $57.11 and a fifty-two week high of $123.63. 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 issued its earnings results on Tuesday, August 4th. The transportation company reported $2.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.92. The firm had revenue of $943.49 million during the quarter, compared to analysts' expectations of $982.70 million. Allegiant Travel had a net margin of 0.90% and a return on equity of 10.83%. The firm's revenue for the quarter was up 36.8% compared to the same quarter last year. During the same period last year, the firm posted $1.23 earnings per share. Allegiant Travel has set its Q3 2026 guidance at -1.000--0.000 EPS. On average, sell-side analysts expect that Allegiant Travel Company will post 6.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on ALGT shares. JPMorgan Chase & Co. started coverage on Allegiant Travel in a research report on Wednesday, July 1st. They issued an "overweight" rating and a $156.00 target price for the company. Morgan Stanley boosted their target price on shares of Allegiant Travel from $100.00 to $115.00 and gave the company an "equal weight" rating in a research note on Monday, July 6th. The Goldman Sachs Group increased their target price on shares of Allegiant Travel from $125.00 to $142.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. Raymond James Financial raised shares of Allegiant Travel from an "outperform" rating to a "strong-buy" rating and decreased their price target for the company from $138.00 to $116.00 in a report on Monday. Finally, Bank of America boosted their price objective 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 given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $128.38.

Trending Headlines about Allegiant Travel

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

• Positive Sentiment: A valuation analysis argues that Allegiant Travel may be undervalued following its recent share-price pullback. The case for upside rests on the company’s longer-term earnings potential and the possibility that current weakness already reflects some concerns about the airline outlook. Is Allegiant Travel Undervalued After Its Recent Share Price Pullback?
• Positive Sentiment: Zacks Research continues to rate ALGT a “Strong Buy” and raised its EPS forecasts for the first quarter of 2027 to $2.66 from $1.58, the second quarter of 2027 to $2.56 from $2.05, and the first quarter of 2028 to $2.96 from $2.61. These increases suggest analysts still see meaningful earnings growth beyond the current period.
• Neutral Sentiment: An American Banking News report cites a Zacks estimate of approximately $6.83 in fiscal 2026 EPS, broadly consistent with the consensus forecast. The estimate provides a reference point for valuation but does not represent a new company announcement or change in fundamentals. What is Zacks Research's Estimate for ALGT FY2026 Earnings?
• Negative Sentiment: Zacks cut its Q3 2026 EPS forecast to breakeven from $0.10 and reduced its FY2027 forecast to $11.27 from $12.83. It also lowered estimates for 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. The reductions point to weaker expected profitability and are likely weighing on sentiment despite the “Strong Buy” rating.

Allegiant Travel Profile

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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