Quantbot Technologies LP Makes New $1.24 Million Investment in Allegiant Travel Company $ALGT

Key Points

• Quantbot Technologies LP has made a new investment of approximately $1.24 million in Allegiant Travel Company, acquiring 23,944 shares in the first quarter.
• Several institutional investors have increased their holdings in Allegiant Travel, with Donald Smith & CO. Inc. raising its ownership by 32.6% to over $69 million worth of shares.
• Allegiant Travel's quarterly earnings exceeded expectations, reporting $1.23 EPS against analysts' forecasts of $0.83, while also guiding for future earnings in the FY 2015.

Quantbot Technologies LP purchased a new position in Allegiant Travel Company (NASDAQ:ALGT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 23,944 shares of the transportation company's stock, valued at approximately $1,237,000. Quantbot Technologies LP owned approximately 0.13% of Allegiant Travel at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Donald Smith & CO. Inc. increased its holdings in shares of Allegiant Travel by 32.6% in the first quarter. Donald Smith & CO. Inc. now owns 1,350,447 shares of the transportation company's stock worth $69,751,000 after acquiring an additional 331,998 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Allegiant Travel by 16.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 928,641 shares of the transportation company's stock worth $87,404,000 after acquiring an additional 131,561 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Allegiant Travel by 8.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 748,216 shares of the transportation company's stock worth $70,421,000 after buying an additional 57,737 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Allegiant Travel by 12.3% during the first quarter. American Century Companies Inc. now owns 633,608 shares of the transportation company's stock worth $32,726,000 after buying an additional 69,282 shares in the last quarter. Finally, U S Global Investors Inc. grew its holdings in shares of Allegiant Travel by 5.6% during the first quarter. U S Global Investors Inc. now owns 412,400 shares of the transportation company's stock worth $21,300,000 after buying an additional 21,822 shares in the last quarter. 85.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Bank of America decreased their price objective on Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating for the company in a report on Tuesday, July 8th. Morgan Stanley decreased their price objective on Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating for the company in a report on Monday, July 7th. TD Cowen increased their price objective on Allegiant Travel from $35.00 to $50.00 and gave the stock a "hold" rating in a report on Monday, May 12th. Barclays decreased their price objective on Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Finally, Susquehanna reiterated a "neutral" rating and set a $50.00 price objective (up from $45.00) on shares of Allegiant Travel in a report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $64.33.

Allegiant Travel Stock Performance

ALGT opened at $60.60 on Friday. Allegiant Travel Company has a 12-month low of $39.10 and a 12-month high of $107.57. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -3.80, a PEG ratio of 0.51 and a beta of 1.72. The business has a 50 day moving average of $53.84 and a 200-day moving average of $56.77. The company has a quick ratio of 1.07, a current ratio of 1.10 and a debt-to-equity ratio of 1.68.

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