Intech Investment Management LLC Increases Stake in Allegiant Travel Company $ALGT

Key Points

• Intech Investment Management LLC significantly increased its position in Allegiant Travel Company by 798.5%, owning 58,494 shares valued at approximately $3.02 million by the end of the first quarter.
• Allegiant Travel reported quarterly earnings of $1.23 per share, exceeding estimates, with revenues of $689.40 million, a 3.5% increase year-over-year.
• The stock currently holds a consensus rating of "Hold" among analysts, with a projected target price of $64.33.

Intech Investment Management LLC boosted its stake in Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 798.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,494 shares of the transportation company's stock after acquiring an additional 51,984 shares during the period. Intech Investment Management LLC owned 0.32% of Allegiant Travel worth $3,021,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of ALGT. Farther Finance Advisors LLC raised its position in shares of Allegiant Travel by 489.1% in 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 period. Caitong International Asset Management Co. Ltd raised its position in shares of Allegiant Travel by 376.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,034 shares of the transportation company's stock valued at $53,000 after purchasing an additional 817 shares during the period. CWM LLC raised its position in shares of Allegiant Travel by 400.8% in the first quarter. CWM LLC now owns 2,559 shares of the transportation company's stock valued at $132,000 after purchasing an additional 2,048 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Allegiant Travel in the first quarter valued at approximately $213,000. Finally, FORA Capital LLC bought a new stake in shares of Allegiant Travel in the first quarter valued at approximately $259,000. Institutional investors own 85.81% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on ALGT shares. Morgan Stanley lowered their price target on shares of 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. Susquehanna reissued a "neutral" rating and issued a $50.00 price target (up previously from $45.00) on shares of Allegiant Travel in a research report on Tuesday, August 5th. Evercore ISI raised 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 note on Tuesday, July 1st. Bank of America cut their price target on shares of Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating for the company in a report on Tuesday, July 8th. Finally, UBS Group decreased their price target on shares of Allegiant Travel from $59.00 to $52.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $64.33.

Allegiant Travel Price Performance

ALGT stock traded down $1.51 during midday trading on Friday, reaching $61.00. The company had a trading volume of 711,500 shares, compared to its average volume of 345,726. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.10 and a quick ratio of 1.07. Allegiant Travel Company has a 1 year low of $39.80 and a 1 year high of $107.57. The company has a market capitalization of $1.12 billion, a P/E ratio of -3.83, a P/E/G ratio of 0.57 and a beta of 1.71. The firm has a 50-day moving average price of $57.04 and a 200-day moving average price of $54.23.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The transportation company reported $1.23 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $689.40 million during the quarter, compared to analysts' expectations of $685.58 million. During the same quarter in the previous year, the company earned $0.75 EPS. The business'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. On average, research analysts anticipate 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.