Meros Investment Management LP purchased a new position in shares of Allegiant Travel Company (NASDAQ:ALGT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 69,928 shares of the transportation company's stock, valued at approximately $8,223,533. Allegiant Travel accounts for approximately 0.0% of Meros Investment Management LP's holdings, making the stock its 13th largest holding. Meros Investment Management LP owned 0.26% of Allegiant Travel as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the business. Louisiana State Employees Retirement System acquired a new position in Allegiant Travel in the first quarter valued at approximately $486,000. Landscape Capital Management L.L.C. acquired a new position in shares of Allegiant Travel during the 4th quarter worth about $5,031,000. U S Global Investors Inc. grew its position in Allegiant Travel by 5.1% in the first quarter. U S Global Investors Inc. now owns 299,225 shares of the transportation company's stock valued at $24,249,000 after purchasing an additional 14,540 shares in the last quarter. BlackRock Inc. acquired a new stake in Allegiant Travel during the 2nd quarter worth approximately $416,591,000. Finally, Principal Financial Group Inc. boosted its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 85.81% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have recently commented on ALGT. Citigroup upgraded shares of Allegiant Travel from a "neutral" rating to a "buy" rating and boosted their price target for the company from $98.00 to $156.00 in a research report on Friday, June 26th. Barclays started coverage on shares of Allegiant Travel in a research report on Wednesday, July 8th. They issued an "overweight" rating and a $145.00 price objective on the stock. Melius Research raised Allegiant Travel from a "hold" rating to a "buy" rating and set a $160.00 target price on the stock in a research note on Tuesday, July 7th. Morgan Stanley increased their price target on shares of Allegiant Travel from $100.00 to $115.00 and gave the company an "equal weight" rating in a report on Monday, July 6th. Finally, Susquehanna lowered their price target on shares of Allegiant Travel from $132.00 to $110.00 and set a "neutral" rating for the company in a report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $128.38.
View Our Latest Stock Report on Allegiant Travel
Allegiant Travel Trading Down 0.7%
ALGT traded down $0.54 during trading on Friday, reaching $79.77. 189,078 shares of the company's stock were exchanged, compared to its average volume of 564,143. The company has a current ratio of 0.83, a quick ratio of 0.80 and a debt-to-equity ratio of 1.38. Allegiant Travel Company has a one year low of $57.11 and a one year high of $123.63. The firm has a fifty day moving average price of $99.42 and a two-hundred day moving average price of $91.63. The stock has a market capitalization of $2.18 billion, a PE ratio of 56.57, a price-to-earnings-growth ratio of 0.24 and a beta of 1.53.
Allegiant Travel (NASDAQ:ALGT - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The transportation company reported $2.19 earnings per share for the quarter, beating analysts' consensus estimates 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 quarter last year, the business posted $1.23 earnings per share. The company's revenue for the quarter was up 36.8% on a year-over-year basis. Allegiant Travel has set its Q3 2026 guidance at -1.000--0.000 EPS. As a group, equities research analysts forecast that Allegiant Travel Company will post 6.83 earnings per share for the current fiscal year.
Key Allegiant Travel News
Here are the key news stories impacting Allegiant Travel this week:
- Positive Sentiment: Zacks raised its EPS forecasts for Q1 2027 to $2.66 from $1.58, Q2 2027 to $2.56 from $2.05, and Q1 2028 to $2.96 from $2.61. These upgrades suggest analysts see stronger earnings potential in select future quarters. What is Zacks Research's Estimate for ALGT FY2026 Earnings?
- Neutral Sentiment: Zacks left its current full-year consensus estimate at $6.83 per share and continues to project FY2027 EPS of $11.27 after incorporating the quarterly changes. The unchanged “Strong-Buy” rating provides some support, but the estimate revisions remain mixed.
- Negative Sentiment: Zacks cut its Q3 2026 EPS forecast to $0.00 from $0.10, implying no earnings for the quarter and creating near-term concern for investors.
- Negative Sentiment: Longer-term estimates were also reduced: FY2027 EPS fell to $11.27 from $12.83, Q3 2027 declined to $2.90 from $3.96, Q4 2027 dropped to $3.15 from $5.24, and Q2 2028 decreased to $2.92 from $3.16. These cuts likely weigh more heavily than the upgrades because they lower expectations for overall future earnings.
Allegiant Travel Company Profile
(
Free Report)
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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