Allegiant Travel Company $ALGT Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC reduced its holdings in Allegiant Travel Company (NASDAQ:ALGT) by 83.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,810 shares of the transportation company’s stock after selling 48,684 shares during the quarter. Intech Investment Management LLC’s holdings in Allegiant Travel were worth $539,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. grew its stake in shares of Allegiant Travel by 32.6% in the first quarter. Donald Smith & CO. Inc. now owns 1,350,447 shares of the transportation company’s stock worth $69,751,000 after purchasing an additional 331,998 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in Allegiant Travel by 5.8% in the first quarter. T. Rowe Price Investment Management Inc. now owns 982,962 shares of the transportation company’s stock worth $50,770,000 after purchasing an additional 54,321 shares during the period. American Century Companies Inc. lifted its holdings in Allegiant Travel by 12.3% in the first quarter. American Century Companies Inc. now owns 633,608 shares of the transportation company’s stock worth $32,726,000 after purchasing an additional 69,282 shares during the period. U S Global Investors Inc. grew its position in Allegiant Travel by 4.3% in the 2nd quarter. U S Global Investors Inc. now owns 430,153 shares of the transportation company’s stock valued at $23,637,000 after buying an additional 17,753 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in Allegiant Travel by 40.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 389,832 shares of the transportation company’s stock valued at $20,135,000 after buying an additional 112,875 shares during the period. Institutional investors own 85.81% of the company’s stock.

Allegiant Travel Price Performance

NASDAQ ALGT opened at $74.01 on Friday. Allegiant Travel Company has a 1 year low of $39.80 and a 1 year high of $107.57. The business’s fifty day moving average is $64.80 and its two-hundred day moving average is $59.14. The stock has a market capitalization of $1.36 billion, a P/E ratio of -4.64, a P/E/G ratio of 0.49 and a beta of 1.77. 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 issued its earnings results on Thursday, May 12th. The transportation company reported $1.18 earnings per share (EPS) for the quarter. The business had revenue of $496.88 million for the quarter. Allegiant Travel had a positive return on equity of 5.00% and a negative net margin of 11.10%. On average, research analysts forecast that Allegiant Travel Company will post 7.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ALGT has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Allegiant Travel in a research note on Wednesday, October 8th. UBS Group boosted their target price on Allegiant Travel from $65.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Evercore ISI increased their price target on Allegiant Travel from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. Morgan Stanley lifted their price target on Allegiant Travel from $80.00 to $85.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Finally, Bank of America upped their price objective on Allegiant Travel from $50.00 to $55.00 and gave the company an “underperform” rating in a report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Allegiant Travel currently has an average rating of “Hold” and a consensus price target of $71.44.

Allegiant Travel Company 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.