Bridgeway Capital Management LLC Boosts Holdings in Allegiant Travel Company $ALGT

Key Points

• Bridgeway Capital Management LLC increased its stake in Allegiant Travel Company by 20.5%, owning 156,635 shares worth approximately $8.09 million.
• Brokerages have mixed ratings on Allegiant Travel, with price targets ranging from $45.00 to $80.00, reflecting a cautious outlook on the stock.
• Allegiant Travel reported earnings of $1.23 per share, exceeding analyst expectations, with revenue of $689.4 million for the quarter, a year-over-year increase of 3.5%.

Bridgeway Capital Management LLC raised its stake in Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 20.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 156,635 shares of the transportation company's stock after purchasing an additional 26,687 shares during the period. Bridgeway Capital Management LLC owned 0.86% of Allegiant Travel worth $8,090,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. bought a new position in shares of Allegiant Travel during the 4th quarter worth approximately $383,000. Northern Trust Corp increased its position in shares of Allegiant Travel by 8.3% during the fourth quarter. Northern Trust Corp now owns 154,282 shares of the transportation company's stock worth $14,521,000 after purchasing an additional 11,864 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Allegiant Travel by 137.7% during the 4th quarter. Ameriprise Financial Inc. now owns 120,470 shares of the transportation company's stock valued at $11,339,000 after purchasing an additional 69,786 shares during the last quarter. Caxton Associates LP acquired a new stake in shares of Allegiant Travel in the 4th quarter worth $930,000. Finally, Concentric Capital Strategies LP purchased a new position in Allegiant Travel during the 4th quarter worth $1,679,000. 85.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ALGT has been the topic of several recent analyst reports. Bank of America cut their price objective on shares of Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating on the stock in a report on Tuesday, July 8th. TD Cowen lifted their price target on Allegiant Travel from $35.00 to $50.00 and gave the stock a "hold" rating in a research report on Monday, May 12th. Evercore ISI upgraded Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 target price on the stock in a research report on Tuesday, July 1st. Susquehanna reissued a "neutral" rating and set a $50.00 price target (up from $45.00) on shares of Allegiant Travel in a research report on Tuesday, August 5th. Finally, Zacks Research raised shares of Allegiant Travel from a "strong sell" rating to a "hold" rating in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $64.33.

Allegiant Travel Stock Performance

ALGT traded down $1.41 on Tuesday, reaching $61.14. The stock had a trading volume of 155,669 shares, compared to its average volume of 440,253. The business's 50-day moving average price is $56.03 and its two-hundred day moving average price is $54.66. The company has a market cap of $1.12 billion, a P/E ratio of -3.82, a price-to-earnings-growth ratio of 0.58 and a beta of 1.71. Allegiant Travel Company has a 12-month low of $39.10 and a 12-month high of $107.57. The company has a current ratio of 1.10, a quick ratio of 1.07 and a debt-to-equity ratio of 1.68.

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 for the quarter, beating the consensus estimate of $0.83 by $0.40. The firm had revenue of $689.40 million during the quarter, compared to analyst estimates of $685.58 million. Allegiant Travel had a positive return on equity of 5.00% and a negative net margin of 11.10%.Allegiant Travel's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 EPS. Allegiant Travel has set its FY 2015 guidance at 2.250- EPS. Q3 2025 guidance at -2.750--1.750 EPS. Sell-side analysts forecast that Allegiant Travel Company will post 7.7 earnings per share for the current 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.