Diamond Hill Capital Management LLC Investment Advisor Takes $9.28 Million Position in Allegiant Travel Company $ALGT

Key Points

• Diamond Hill Capital Management bought 78,902 Allegiant Travel shares worth approximately $9.28 million, representing a 0.43% stake. Institutional investors collectively own 85.81% of the company.
• Analysts maintain a generally positive outlook, with nine Buy ratings, five Holds and one Sell; the consensus price target is $127, while recent targets range from $115 to $160.
• Allegiant reported quarterly EPS of $2.19, beating estimates of $1.27, while revenue rose 36.8% year over year to $943.49 million but fell short of the $982.70 million consensus estimate.

Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Allegiant Travel Company (NASDAQ:ALGT - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 78,902 shares of the transportation company's stock, valued at approximately $9,279,000. Diamond Hill Capital Management LLC Investment Advisor owned 0.43% of Allegiant Travel at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Louisiana State Employees Retirement System acquired a new position in shares of Allegiant Travel during the first quarter worth approximately $486,000. Landscape Capital Management L.L.C. bought a new position in shares of Allegiant Travel during the fourth quarter valued at about $5,031,000. U S Global Investors Inc. boosted its stake in shares of Allegiant Travel by 5.1% in the 1st quarter. U S Global Investors Inc. now owns 299,225 shares of the transportation company's stock worth $24,249,000 after buying an additional 14,540 shares during the last quarter. First Eagle Investment Management LLC purchased a new position in Allegiant Travel in the fourth quarter worth $3,866,000. Finally, Principal Financial Group Inc. grew its stake in Allegiant Travel by 151.1% in the 1st quarter. Principal Financial Group Inc. now owns 161,227 shares of the transportation company's stock valued at $13,066,000 after purchasing an additional 97,010 shares during the period. Institutional investors own 85.81% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Bank of America raised their target price on Allegiant Travel from $100.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 1st. JPMorgan Chase & Co. assumed coverage on shares of Allegiant Travel in a report on Wednesday, July 1st. They set an "overweight" rating and a $156.00 target price on the stock. Barclays initiated coverage on Allegiant Travel in a research note on Wednesday, July 8th. They issued an "overweight" rating and a $145.00 target price on the stock. Morgan Stanley lifted their price target on Allegiant Travel from $100.00 to $115.00 and gave the company an "equal weight" rating in a research report on Monday, July 6th. Finally, Melius Research raised shares of Allegiant Travel from a "hold" rating to a "buy" rating and set a $160.00 price target for the company in a research note on Tuesday, July 7th. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Allegiant Travel has an average rating of "Moderate Buy" and a consensus target price of $127.00.

Allegiant Travel Stock Down 1.7%

ALGT stock opened at $84.30 on Tuesday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.80 and a current ratio of 0.83. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 59.79, a price-to-earnings-growth ratio of 0.23 and a beta of 1.53. The business's 50 day moving average price is $101.17 and its two-hundred day moving average price is $92.47. Allegiant Travel Company has a fifty-two week low of $53.70 and a fifty-two week high of $123.63.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued its earnings results on Tuesday, August 4th. The transportation company reported $2.19 EPS for the quarter, beating 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 business had revenue of $943.49 million for the quarter, compared to the consensus estimate of $982.70 million. During the same period last year, the business posted $1.23 EPS. 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. As a group, analysts forecast that Allegiant Travel Company will post 7.14 earnings per share 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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