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

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Donald Smith & CO. Inc. lifted its holdings in Allegiant Travel by 32.6% in the 1st quarter. Donald Smith & CO. Inc. now owns 1,350,447 shares of the transportation company's stock valued at $69,751,000 after acquiring an additional 331,998 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Allegiant Travel by 5.8% in the first quarter. T. Rowe Price Investment Management Inc. now owns 982,962 shares of the transportation company's stock worth $50,770,000 after buying an additional 54,321 shares during the last quarter. American Century Companies Inc. grew its position in shares of Allegiant Travel by 12.3% in the first quarter. American Century Companies Inc. now owns 633,608 shares of the transportation company's stock valued at $32,726,000 after purchasing an additional 69,282 shares during the last quarter. U S Global Investors Inc. lifted its holdings in shares of Allegiant Travel by 5.6% during the first quarter. U S Global Investors Inc. now owns 412,400 shares of the transportation company's stock worth $21,300,000 after buying an additional 21,822 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Allegiant Travel by 10.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 337,120 shares of the transportation company's stock valued at $17,412,000 after purchasing an additional 32,478 shares during the period. 85.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Zacks Research upgraded shares of Allegiant Travel from a "strong sell" rating to a "hold" rating in a research note on Thursday. Evercore ISI upgraded shares of Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 price objective for the company in a research report on Tuesday, July 1st. Morgan Stanley cut their price target on Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating on the stock in a research note on Monday, July 7th. Bank of America dropped their target price on shares of Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating for the company in a research report on Tuesday, July 8th. Finally, UBS Group decreased their price objective on shares of Allegiant Travel from $59.00 to $52.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $64.33.

Allegiant Travel Price Performance

ALGT traded down $1.99 during trading on Monday, reaching $62.54. 341,080 shares of the company were exchanged, compared to its average volume of 441,969. 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 Company has a 12-month low of $39.10 and a 12-month high of $107.57. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -3.92, a P/E/G ratio of 0.58 and a beta of 1.71. The company's 50-day moving average is $55.88 and its two-hundred day moving average is $54.79.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last released its earnings results on Monday, August 4th. The transportation company reported $1.23 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 company had revenue of $689.40 million for the quarter, compared to analyst estimates of $685.58 million. During the same quarter last year, the firm earned $0.75 EPS. The firm's quarterly revenue was up 3.5% compared to the same quarter last year. Allegiant Travel has set its FY 2015 guidance at 2.250- EPS. Q3 2025 guidance at -2.750--1.750 EPS. Research analysts forecast that Allegiant Travel Company will post 7.7 earnings per share for the current fiscal 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.