BlackRock Inc. Acquires New Holdings in Allegiant Travel Company $ALGT

Key Points

• BlackRock acquired 3.54 million Allegiant Travel shares valued at approximately $416.6 million, giving it a 19.21% stake. Institutional investors collectively own 85.81% of ALGT.
• Analysts have generally turned more bullish, with recent upgrades from Citigroup, Goldman Sachs, Zacks Research and Melius Research. The stock has a “Moderate Buy” consensus rating and a $128.38 average price target.
• Allegiant reported quarterly EPS of $2.19, beating estimates of $1.27, while revenue rose 36.8% year over year to $943.5 million, though it fell short of expectations.

BlackRock Inc. bought a new position in shares of Allegiant Travel Company (NASDAQ:ALGT - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,542,439 shares of the transportation company's stock, valued at approximately $416,591,000. BlackRock Inc. owned 19.21% of Allegiant Travel at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ALGT. Global Retirement Partners LLC bought a new position in Allegiant Travel in the 2nd quarter valued at $26,000. Parallel Advisors LLC grew its position in shares of Allegiant Travel by 339.6% during the 1st quarter. Parallel Advisors LLC now owns 488 shares of the transportation company's stock valued at $40,000 after purchasing an additional 377 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Allegiant Travel in the second quarter worth $42,000. NewEdge Advisors LLC increased its holdings in shares of Allegiant Travel by 43.7% in the second quarter. NewEdge Advisors LLC now owns 1,227 shares of the transportation company's stock worth $67,000 after purchasing an additional 373 shares during the period. Finally, iSAM Funds UK Ltd purchased a new stake in shares of Allegiant Travel in the third quarter worth $69,000. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ALGT shares. Citigroup raised Allegiant Travel from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $98.00 to $156.00 in a research note on Friday, June 26th. The Goldman Sachs Group upped their target price on Allegiant Travel from $125.00 to $142.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Zacks Research raised Allegiant Travel from a "hold" rating to a "strong-buy" rating in a report on Monday, August 17th. Barclays initiated coverage on Allegiant Travel in a research report on Wednesday, July 8th. They set an "overweight" rating and a $145.00 price target for the company. Finally, Melius Research raised Allegiant Travel from a "hold" rating to a "buy" rating and set a $160.00 price objective for the company in a report on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $128.38.

Allegiant Travel Trading Up 0.8%

NASDAQ ALGT opened at $82.32 on Wednesday. The stock's 50-day simple moving average is $100.10 and its two-hundred day simple moving average is $91.99. Allegiant Travel Company has a twelve month low of $57.11 and a twelve month 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. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 58.38, a PEG ratio of 0.23 and a beta of 1.53.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The transportation company reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.92. Allegiant Travel had a return on equity of 10.83% and a net margin of 0.90%.The firm had revenue of $943.49 million during the quarter, compared to analyst estimates of $982.70 million. During the same quarter in the previous year, the company posted $1.23 earnings per share. The company's revenue was up 36.8% compared to the same quarter last year. Allegiant Travel has set its Q3 2026 guidance at -1.000--0.000 EPS. Research analysts forecast that Allegiant Travel Company will post 6.95 EPS for the current fiscal year.

Allegiant Travel Company 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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