MetLife Investment Management LLC Has $8.25 Million Stake in Allegiant Travel Company $ALGT

Key Points

• MetLife Investment Management LLC has significantly increased its stake in Allegiant Travel Company by 1,621.0%, owning approximately $8.25 million worth of shares after acquiring an additional 150,412 shares in the first quarter.
• Several institutional investors, including Donald Smith & CO. Inc. and T. Rowe Price Investment Management Inc., have also boosted their stakes in Allegiant Travel, resulting in institutional ownership comprising 85.81% of the company's stock.
• Allegiant Travel's recent earnings report showed a performance of $1.23 earnings per share, surpassing analyst expectations, with a revenue of $689.4 million for the quarter.

MetLife Investment Management LLC boosted its stake in Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 1,621.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,691 shares of the transportation company's stock after buying an additional 150,412 shares during the quarter. MetLife Investment Management LLC owned approximately 0.87% of Allegiant Travel worth $8,248,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Donald Smith & CO. Inc. boosted its stake 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 buying an additional 331,998 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Allegiant Travel by 5.8% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 982,962 shares of the transportation company's stock valued at $50,770,000 after buying an additional 54,321 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Allegiant Travel by 8.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 748,216 shares of the transportation company's stock valued at $70,421,000 after buying an additional 57,737 shares in the last quarter. American Century Companies Inc. boosted its stake in Allegiant Travel by 12.3% in the 1st quarter. American Century Companies Inc. now owns 633,608 shares of the transportation company's stock valued at $32,726,000 after buying an additional 69,282 shares in the last quarter. Finally, U S Global Investors Inc. boosted its stake in Allegiant Travel by 5.6% in the 1st quarter. U S Global Investors Inc. now owns 412,400 shares of the transportation company's stock valued at $21,300,000 after buying an additional 21,822 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. UBS Group decreased their price target on Allegiant Travel from $59.00 to $52.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Raymond James Financial reiterated a "strong-buy" rating and issued a $80.00 price objective (down previously from $90.00) on shares of Allegiant Travel in a research report on Wednesday, May 7th. Barclays cut their price objective on Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. Evercore ISI upgraded 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. Finally, Morgan Stanley cut their price objective on Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating for the company in a research report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $64.33.

Allegiant Travel Trading Up 4.1%

ALGT stock opened at $62.04 on Wednesday. The company has a market cap of $1.14 billion, a P/E ratio of -3.89, a PEG ratio of 0.54 and a beta of 1.72. Allegiant Travel Company has a twelve month low of $39.10 and a twelve month high of $107.57. The company has a quick ratio of 1.07, a current ratio of 1.10 and a debt-to-equity ratio of 1.68. The business has a fifty day moving average of $54.14 and a 200-day moving average of $56.18.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last released its earnings results on Monday, August 4th. The transportation company reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.40. The company had revenue of $689.40 million during the quarter, compared to the consensus estimate of $685.58 million. Allegiant Travel had a positive return on equity of 5.00% and a negative net margin of 11.10%.The firm's quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.75 earnings per share. Allegiant Travel has set its FY 2015 guidance at 2.250- EPS. Q3 2025 guidance at -2.750--1.750 EPS. As a group, equities research analysts expect that Allegiant Travel Company will post 7.7 EPS for the current 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.

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