Donald Smith & CO. Inc. Purchases 331,998 Shares of Allegiant Travel Company (NASDAQ:ALGT)

Key Points

• Donald Smith & CO. Inc. increased its stake in Allegiant Travel Company by 32.6% during the first quarter, owning 1,350,447 shares valued at approximately $69.75 million.
• Several institutional investors have significantly increased their holdings in Allegiant Travel, with Farther Finance Advisors LLC raising its stake by 489.1% and CWM LLC growing its stake by 400.8%.
• Allegiant Travel reported $1.23 earnings per share for the last quarter, exceeding analysts' estimates of $0.83, and noted a revenue increase of 3.5% year-over-year.

Donald Smith & CO. Inc. lifted its stake in Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 32.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,350,447 shares of the transportation company's stock after acquiring an additional 331,998 shares during the period. Allegiant Travel makes up 1.7% of Donald Smith & CO. Inc.'s portfolio, making the stock its 26th largest holding. Donald Smith & CO. Inc. owned approximately 7.40% of Allegiant Travel worth $69,751,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Allegiant Travel by 3.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,808 shares of the transportation company's stock worth $829,000 after acquiring an additional 292 shares in the last quarter. Picton Mahoney Asset Management raised its stake in shares of Allegiant Travel by 6.6% in the first quarter. Picton Mahoney Asset Management now owns 5,550 shares of the transportation company's stock worth $286,000 after acquiring an additional 344 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Allegiant Travel by 1.1% during the fourth quarter. Legal & General Group Plc now owns 31,767 shares of the transportation company's stock worth $2,990,000 after purchasing an additional 348 shares in the last quarter. Sterling Capital Management LLC grew its stake in shares of Allegiant Travel by 803.6% during the fourth quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company's stock valued at $47,000 after purchasing an additional 442 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Allegiant Travel by 489.1% during the first quarter. Farther Finance Advisors LLC now owns 542 shares of the transportation company's stock valued at $28,000 after purchasing an additional 450 shares during the last quarter. Institutional investors own 85.81% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on ALGT shares. Morgan Stanley decreased their price objective on Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating on the stock in a research report on Monday, July 7th. Raymond James Financial restated a "strong-buy" rating and set a $80.00 target price (down from $90.00) on shares of Allegiant Travel in a research report on Wednesday, May 7th. Barclays reduced their target price on shares of Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. TD Cowen boosted their price target on shares of Allegiant Travel from $35.00 to $50.00 and gave the stock a "hold" rating in a research note on Monday, May 12th. Finally, Susquehanna reaffirmed a "neutral" rating and issued a $50.00 price objective (up from $45.00) on shares of Allegiant Travel in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $64.33.

Allegiant Travel Stock Down 2.4%

Shares of NASDAQ ALGT traded down $1.45 during mid-day trading on Thursday, reaching $59.87. 255,910 shares of the company's stock were exchanged, compared to its average volume of 449,016. Allegiant Travel Company has a twelve month low of $37.50 and a twelve 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. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -3.76, a PEG ratio of 0.52 and a beta of 1.72. The business has a fifty day simple moving average of $53.46 and a 200 day simple moving average of $58.89.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last announced its earnings results on Monday, August 4th. The transportation company reported $1.23 EPS for the quarter, topping the consensus estimate of $0.83 by $0.40. The firm had revenue of $689.40 million for the quarter, compared to the consensus estimate of $685.58 million. Allegiant Travel had a negative net margin of 11.10% and a positive return on equity of 5.00%. The business's quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the company posted $0.75 EPS. As a group, equities analysts expect that Allegiant Travel Company will post 7.7 EPS for the current fiscal year.

Allegiant Travel Profile

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.