Vanguard Group Inc. Sells 123,293 Shares of Allegiant Travel Company $ALGT

Key Points

• Vanguard Group Inc. has decreased its stake in Allegiant Travel by 7.5%, selling 123,293 shares, and now owns 1,525,556 shares valued at approximately $78.8 million.
• Several large investors have changed their holdings in Allegiant Travel, with 85.81% of the stock currently owned by institutional investors.
• Despite mixed analyst ratings, the average target price for Allegiant Travel shares is $64.33, with TD Cowen recently raising its price target from $35 to $50.

Vanguard Group Inc. decreased its stake in Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 7.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,525,556 shares of the transportation company's stock after selling 123,293 shares during the quarter. Vanguard Group Inc. owned 8.36% of Allegiant Travel worth $78,795,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of ALGT. Wells Fargo & Company MN boosted its position in shares of Allegiant Travel by 22.6% in the 4th quarter. Wells Fargo & Company MN now owns 11,184 shares of the transportation company's stock valued at $1,053,000 after purchasing an additional 2,059 shares during the period. Russell Investments Group Ltd. boosted its position in Allegiant Travel by 1,486.7% during the 4th quarter. Russell Investments Group Ltd. now owns 1,904 shares of the transportation company's stock worth $179,000 after acquiring an additional 1,784 shares during the period. Bank of Montreal Can acquired a new stake in Allegiant Travel during the 4th quarter worth about $213,000. Raymond James Financial Inc. acquired a new stake in Allegiant Travel during the 4th quarter worth about $383,000. Finally, Mariner LLC acquired a new stake in Allegiant Travel during the 4th quarter worth about $371,000. Institutional investors and hedge funds own 85.81% of the company's stock.

Allegiant Travel Price Performance

ALGT stock traded down $0.48 during trading on Thursday, hitting $62.03. The company had a trading volume of 157,436 shares, compared to its average volume of 445,161. The company has a fifty day moving average price of $54.37 and a two-hundred day moving average price of $56.22. The company has a current ratio of 1.10, a quick ratio of 1.07 and a debt-to-equity ratio of 1.68. The company has a market cap of $1.14 billion, a P/E ratio of -3.89, a P/E/G ratio of 0.56 and a beta of 1.72. Allegiant Travel Company has a fifty-two week low of $39.10 and a fifty-two week high of $107.57.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The transportation company reported $1.23 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 analyst estimates 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 quarter in the previous year, the firm earned $0.75 EPS. Allegiant Travel has set its FY 2015 guidance at 2.250- EPS. Q3 2025 guidance at -2.750--1.750 EPS. Equities research analysts expect that Allegiant Travel Company will post 7.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ALGT has been the subject of a number of research reports. Evercore ISI upgraded Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 price objective for the company in a research report on Tuesday, July 1st. TD Cowen raised their price objective on Allegiant Travel from $35.00 to $50.00 and gave the company a "hold" rating in a research note on Monday, May 12th. Susquehanna reissued a "neutral" rating and issued a $50.00 price objective (up from $45.00) on shares of Allegiant Travel in a research note on Tuesday, August 5th. Bank of America lowered their target price on Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating on the stock in a report on Tuesday, July 8th. Finally, Morgan Stanley decreased their price objective 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 equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $64.33.

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.