Allegiant Travel Company $ALGT Stake Raised by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its holdings in Allegiant Travel Company (NASDAQ:ALGT) by 6.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,619 shares of the transportation company’s stock after acquiring an additional 560 shares during the quarter. State of Alaska Department of Revenue’s holdings in Allegiant Travel were worth $473,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALGT. Farther Finance Advisors LLC increased its stake in Allegiant Travel by 489.1% in the 1st quarter. Farther Finance Advisors LLC now owns 542 shares of the transportation company’s stock worth $28,000 after purchasing an additional 450 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Allegiant Travel by 376.5% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,034 shares of the transportation company’s stock worth $53,000 after purchasing an additional 817 shares in the last quarter. GAMMA Investing LLC increased its stake in Allegiant Travel by 58.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,108 shares of the transportation company’s stock worth $61,000 after purchasing an additional 407 shares in the last quarter. CWM LLC increased its stake in Allegiant Travel by 400.8% in the 1st quarter. CWM LLC now owns 2,559 shares of the transportation company’s stock worth $132,000 after purchasing an additional 2,048 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Allegiant Travel in the 1st quarter worth about $213,000. 85.81% of the stock is currently owned by institutional investors.

Allegiant Travel Trading Up 0.3%

Shares of NASDAQ ALGT opened at $62.30 on Thursday. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -3.91, a PEG ratio of 0.49 and a beta of 1.71. The business has a 50 day simple moving average of $59.51 and a 200 day simple moving average of $54.67. Allegiant Travel Company has a 52 week low of $39.80 and a 52 week high of $107.57. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.07 and a current ratio of 1.10.

Allegiant Travel (NASDAQ:ALGT) 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 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%.The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business 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, research analysts predict that Allegiant Travel Company will post 7.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ALGT shares. Evercore ISI lifted their price target on Allegiant Travel from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, September 29th. Susquehanna lifted their price target on Allegiant Travel from $50.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. Bank of America lifted their price target on Allegiant Travel from $50.00 to $55.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 1st. Morgan Stanley lowered their target price on Allegiant Travel from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Monday, July 7th. Finally, UBS Group lifted their target price on Allegiant Travel from $52.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $70.56.

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.