Strs Ohio Acquires Shares of 11,400 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 filing with the Securities and Exchange Commission. The institutional investor 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 bought and sold shares of the company. New York State Common Retirement Fund lifted its stake in Allegiant Travel by 8.5% during the first quarter. New York State Common Retirement Fund now owns 6,003 shares of the transportation company's stock worth $310,000 after purchasing an additional 470 shares during the last quarter. New York State Teachers Retirement System lifted its stake in Allegiant Travel by 8.2% during the first quarter. New York State Teachers Retirement System now owns 18,922 shares of the transportation company's stock worth $977,000 after purchasing an additional 1,426 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Allegiant Travel during the first quarter worth approximately $597,000. Illinois Municipal Retirement Fund lifted its stake in Allegiant Travel by 33.8% during the first quarter. Illinois Municipal Retirement Fund now owns 9,826 shares of the transportation company's stock worth $508,000 after purchasing an additional 2,480 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Allegiant Travel by 489.1% during the first quarter. Farther Finance Advisors LLC now owns 542 shares of the transportation company's stock worth $28,000 after purchasing an additional 450 shares during the last quarter. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Allegiant Travel Price Performance

Shares of NASDAQ:ALGT traded up $1.16 during midday trading on Tuesday, hitting $62.61. 119,203 shares of the stock were exchanged, compared to its average volume of 438,545. The stock has a market cap of $1.15 billion, a P/E ratio of -3.92, a PEG ratio of 0.55 and a beta of 1.71. The company has a current ratio of 1.10, a quick ratio of 1.07 and a debt-to-equity ratio of 1.68. Allegiant Travel Company has a twelve month low of $39.80 and a twelve month high of $107.57. The company has a 50 day moving average price of $57.18 and a 200-day moving average price of $54.10.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.40. The business 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%.The business's revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.75 earnings per share. Allegiant Travel has set its FY 2015 guidance at 2.250- EPS. Q3 2025 guidance at -2.750--1.750 EPS. On average, research analysts forecast that Allegiant Travel Company will post 7.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ALGT. Morgan Stanley reduced their price objective on Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating for the company in a research note on Monday, July 7th. Zacks Research upgraded Allegiant Travel from a "strong sell" rating to a "hold" rating in a research note on Thursday, September 4th. Bank of America reduced their price objective on Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating for the company in a research note on Tuesday, July 8th. UBS Group reduced their price objective on Allegiant Travel from $59.00 to $52.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Finally, Evercore ISI raised Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 target price on the stock in a report on Tuesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price 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.