23,944 Shares in Allegiant Travel Company $ALGT Acquired by Quantbot Technologies LP

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

Other hedge funds have also recently added to or reduced their stakes in the company. New York State Common Retirement Fund boosted its stake in Allegiant Travel by 8.5% during the 1st quarter. New York State Common Retirement Fund now owns 6,003 shares of the transportation company's stock valued at $310,000 after purchasing an additional 470 shares during the period. New York State Teachers Retirement System raised its holdings in Allegiant Travel by 8.2% in the 1st quarter. New York State Teachers Retirement System now owns 18,922 shares of the transportation company's stock valued at $977,000 after acquiring an additional 1,426 shares in the last quarter. SG Americas Securities LLC acquired a new position in Allegiant Travel in the 1st quarter valued at approximately $597,000. Illinois Municipal Retirement Fund raised its holdings in Allegiant Travel by 33.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 9,826 shares of the transportation company's stock valued at $508,000 after acquiring an additional 2,480 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Allegiant Travel by 1,486.7% in the 4th quarter. Russell Investments Group Ltd. now owns 1,904 shares of the transportation company's stock valued at $179,000 after acquiring an additional 1,784 shares in the last quarter. Institutional investors own 85.81% of the company's stock.

Wall Street Analysts Forecast Growth

ALGT has been the subject of several recent research reports. Morgan Stanley cut their price target 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. Bank of America cut their price target on Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating for the company in a report on Tuesday, July 8th. Susquehanna reaffirmed a "neutral" rating and issued a $50.00 price target (up previously from $45.00) on shares of Allegiant Travel in a report on Tuesday, August 5th. TD Cowen upped their price target on Allegiant Travel from $35.00 to $50.00 and gave the company a "hold" rating in a report on Monday, May 12th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $80.00 price target (down previously from $90.00) on shares of Allegiant Travel in a report on Wednesday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Allegiant Travel currently has a consensus rating of "Hold" and an average target price of $64.33.

Allegiant Travel Price Performance

Shares of ALGT traded down $0.41 during mid-day trading on Thursday, reaching $62.10. The company had a trading volume of 78,684 shares, compared to its average volume of 444,667. Allegiant Travel Company has a twelve month low of $39.10 and a twelve month high of $107.57. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.10 and a quick ratio of 1.07. The company's 50-day moving average is $54.37 and its 200-day moving average is $56.22. The company has a market capitalization of $1.14 billion, a P/E ratio of -3.88, a P/E/G ratio of 0.56 and a beta of 1.72.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued its earnings results on Monday, August 4th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.40. The business had revenue of $689.40 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the firm 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. On average, equities analysts anticipate 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.