Public Sector Pension Investment Board Buys 9,872 Shares of Allegiant Travel Company $ALGT

Key Points

• The Public Sector Pension Investment Board increased its stake in Allegiant Travel Company by 27.2%, owning approximately $2.38 million worth of shares after acquiring an additional 9,872 shares.
• Analyst ratings for Allegiant Travel vary, with one "Strong Buy," one "Buy," seven "Hold," and one "Sell," while the average target price is set at $64.33.
• Allegiant Travel reported $1.23 earnings per share for the latest quarter, surpassing analyst expectations, with a revenue increase of 3.5% year-over-year.

Public Sector Pension Investment Board raised its stake in shares of Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 27.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,137 shares of the transportation company's stock after purchasing an additional 9,872 shares during the period. Public Sector Pension Investment Board owned 0.25% of Allegiant Travel worth $2,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ALGT. Donald Smith & CO. Inc. raised its position in Allegiant Travel by 32.6% during the first quarter. Donald Smith & CO. Inc. now owns 1,350,447 shares of the transportation company's stock valued at $69,751,000 after purchasing an additional 331,998 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in Allegiant Travel during the fourth quarter valued at approximately $26,067,000. Federated Hermes Inc. purchased a new stake in Allegiant Travel during the first quarter valued at approximately $9,864,000. Voloridge Investment Management LLC purchased a new stake in Allegiant Travel during the fourth quarter valued at approximately $16,713,000. Finally, T. Rowe Price Investment Management Inc. raised its position in Allegiant Travel by 16.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 928,641 shares of the transportation company's stock valued at $87,404,000 after purchasing an additional 131,561 shares during the period. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Allegiant Travel Trading Down 1.7%

ALGT traded down $1.00 during trading on Monday, hitting $59.60. 258,601 shares of the stock were exchanged, compared to its average volume of 518,175. The firm has a 50 day simple moving average of $53.95 and a 200 day simple moving average of $56.14. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -3.74, a P/E/G ratio of 0.55 and a beta of 1.72. Allegiant Travel Company has a 1 year low of $39.10 and a 1 year high of $107.57. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.07 and a current ratio of 1.10.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last released its quarterly earnings data 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 company had revenue of $689.40 million for 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%.Allegiant Travel's quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the business posted $0.75 EPS. 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 analysts expect that Allegiant Travel Company will post 7.7 EPS for the current year.

Wall Street Analyst Weigh In

ALGT has been the topic of several recent analyst reports. Susquehanna reiterated a "neutral" rating and issued a $50.00 price target (up from $45.00) on shares of Allegiant Travel in a report on Tuesday, August 5th. Raymond James Financial reiterated a "strong-buy" rating and issued a $80.00 price target (down from $90.00) on shares of Allegiant Travel in a report on Wednesday, May 7th. UBS Group reduced their price target on Allegiant Travel from $59.00 to $52.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Barclays reduced their price target on Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. Finally, Morgan Stanley reduced their price target on Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating on the stock in a report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $64.33.

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.