Public Employees Retirement System of Ohio Buys New Position in Allegiant Travel Company $ALGT

Key Points

• Ohio’s public employees’ retirement system bought 21,870 Allegiant Travel shares worth approximately $2.57 million, while other institutions also initiated positions. Institutional investors now own 85.81% of the company.
• Allegiant reported adjusted earnings of $2.19 per share, exceeding estimates of $1.27, while quarterly revenue rose 36.8% year over year to $943.49 million but fell short of expectations.
• Analyst sentiment remains positive overall, with a “Moderate Buy” consensus and an average price target of $128.38, despite several firms recently lowering their targets and the stock trading at $78.16.

Public Employees Retirement System of Ohio purchased a new position in Allegiant Travel Company (NASDAQ:ALGT - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 21,870 shares of the transportation company's stock, valued at approximately $2,572,000. Public Employees Retirement System of Ohio owned approximately 0.08% of Allegiant Travel at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ALGT. Corient Private Wealth LP purchased a new stake in shares of Allegiant Travel during the 2nd quarter valued at $3,597,000. Bank of America Corp DE purchased a new position in Allegiant Travel in the second quarter worth $11,087,000. Freestone Grove Partners LP purchased a new position in Allegiant Travel in the second quarter worth $527,000. Man Group plc bought a new position in Allegiant Travel in the second quarter valued at $578,000. Finally, Jupiter Topco LLC bought a new position in Allegiant Travel in the second quarter valued at $214,000. Institutional investors own 85.81% of the company's stock.

Allegiant Travel Stock Up 3.0%

ALGT opened at $78.16 on Friday. Allegiant Travel Company has a 12 month low of $57.11 and a 12 month high of $123.63. The company has a current ratio of 0.83, a quick ratio of 0.80 and a debt-to-equity ratio of 1.38. The business's 50-day moving average price is $95.75 and its 200-day moving average price is $90.27. The company has a market cap of $2.14 billion, a P/E ratio of 55.43, a P/E/G ratio of 0.22 and a beta of 1.50.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued its earnings results on Tuesday, August 4th. The transportation company reported $2.19 earnings per share 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 company had revenue of $943.49 million during the quarter, compared to analysts' expectations of $982.70 million. During the same period in the prior year, the business posted $1.23 EPS. Allegiant Travel's quarterly 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. On average, equities analysts expect that Allegiant Travel Company will post 6.83 EPS for the current year.

Analyst Upgrades and Downgrades

ALGT has been the subject of a number of research reports. JPMorgan Chase & Co. began coverage on Allegiant Travel in a report on Wednesday, July 1st. They issued an "overweight" rating and a $156.00 price objective for the company. Wall Street Zen cut Allegiant Travel from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. Susquehanna dropped their target price on Allegiant Travel from $132.00 to $110.00 and set a "neutral" rating for the company in a research report on Friday, August 7th. Raymond James Financial raised Allegiant Travel from an "outperform" rating to a "strong-buy" rating and cut their target price for the stock from $138.00 to $116.00 in a research note on Monday, August 24th. Finally, Barclays began coverage on shares of Allegiant Travel in a research report on Wednesday, July 8th. They set an "overweight" rating and a $145.00 price target on the stock. 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 given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $128.38.

About Allegiant Travel

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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