Strs Ohio Takes $589,000 Position in Allegiant Travel Company $ALGT

Key Points

• Strs Ohio has acquired a new stake in Allegiant Travel Company, purchasing 11,400 shares valued at approximately $589,000, which represents 0.06% ownership of the company.
• Several other institutional investors have also increased their stakes in Allegiant Travel, with notable increases from New York State Common Retirement Fund and Illinois Municipal Retirement Fund.
• Allegiant Travel reported earnings of $1.23 per share, exceeding analysts' expectations, and the company has projected its FY 2015 guidance at 2.250 EPS.

Strs Ohio purchased a new position in shares of Allegiant Travel Company (NASDAQ:ALGT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,400 shares of the transportation company's stock, valued at approximately $589,000. Strs Ohio owned 0.06% of Allegiant Travel at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Allegiant Travel by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,808 shares of the transportation company's stock valued at $829,000 after buying an additional 292 shares during the period. ProShare Advisors LLC bought a new position in shares of Allegiant Travel during the 4th quarter worth $438,000. Woodline Partners LP purchased a new position in Allegiant Travel during the 4th quarter valued at about $5,372,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Allegiant Travel during the fourth quarter valued at approximately $655,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Allegiant Travel in the 4th quarter worth $3,364,000. 85.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ALGT shares. UBS Group decreased their target price on shares of Allegiant Travel from $59.00 to $52.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Zacks Research raised shares of Allegiant Travel from a "strong sell" rating to a "hold" rating in a research report on Thursday, September 4th. Evercore ISI raised shares of Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 target price on the stock in a research report on Tuesday, July 1st. Bank of America decreased their price target on shares of Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating for the company in a report on Tuesday, July 8th. Finally, Morgan Stanley dropped their price objective on shares of 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 equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $64.33.

Allegiant Travel Stock Performance

NASDAQ:ALGT traded up $0.44 during trading hours on Monday, reaching $61.44. The company had a trading volume of 278,669 shares, compared to its average volume of 440,373. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.10 and a quick ratio of 1.07. Allegiant Travel Company has a 1-year low of $39.80 and a 1-year high of $107.57. The business's 50 day moving average price is $57.04 and its 200-day moving average price is $54.09. The firm has a market cap of $1.13 billion, a PE ratio of -3.85, a price-to-earnings-growth ratio of 0.55 and a beta of 1.71.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its earnings results on Monday, August 4th. The transportation company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.40. Allegiant Travel had a negative net margin of 11.10% and a positive return on equity of 5.00%. The firm had revenue of $689.40 million during the quarter, compared to analyst estimates of $685.58 million. During the same period in the previous year, the firm earned $0.75 EPS. The business's quarterly 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. Research analysts forecast 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.