Donald Smith & CO. Inc. Boosts Stock Position in Allegiant Travel (NASDAQ:ALGT)

Donald Smith & CO. Inc. lifted its position in Allegiant Travel (NASDAQ:ALGT) by 20.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 993,474 shares of the transportation company’s stock after purchasing an additional 167,148 shares during the quarter. Allegiant Travel makes up about 1.3% of Donald Smith & CO. Inc.’s portfolio, making the stock its 29th largest position. Donald Smith & CO. Inc. owned approximately 0.05% of Allegiant Travel worth $54,701,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. U S Global Investors Inc. raised its position in Allegiant Travel by 51.9% during the third quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company’s stock valued at $40,823,000 after acquiring an additional 253,198 shares in the last quarter. Clearbridge Investments LLC purchased a new position in shares of Allegiant Travel during the 2nd quarter valued at approximately $8,959,000. Millennium Management LLC lifted its stake in shares of Allegiant Travel by 779.8% in the 2nd quarter. Millennium Management LLC now owns 169,459 shares of the transportation company’s stock valued at $8,512,000 after purchasing an additional 150,197 shares during the period. International Assets Investment Management LLC acquired a new stake in Allegiant Travel during the third quarter valued at $63,540,000. Finally, RK Asset Management LLC acquired a new stake in Allegiant Travel during the third quarter valued at $5,307,000. Institutional investors and hedge funds own 85.81% of the company’s stock.

Allegiant Travel Trading Up 3.7 %

Shares of Allegiant Travel stock traded up $2.23 during trading hours on Wednesday, hitting $62.92. The company’s stock had a trading volume of 59,495 shares, compared to its average volume of 360,663. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -68.19, a P/E/G ratio of 3.11 and a beta of 1.65. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.71 and a current ratio of 0.74. Allegiant Travel has a twelve month low of $36.08 and a twelve month high of $85.91. The firm has a fifty day moving average of $50.44 and a 200-day moving average of $50.77.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Wednesday, July 31st. The transportation company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.93. The company had revenue of $666.28 million for the quarter, compared to analysts’ expectations of $657.74 million. Allegiant Travel had a negative net margin of 0.57% and a positive return on equity of 3.48%. Allegiant Travel’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.35 earnings per share. Research analysts forecast that Allegiant Travel will post 1.47 EPS for the current year.

Insider Activity

In other Allegiant Travel news, COO Keny Frank Wilper sold 635 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total value of $39,808.15. Following the sale, the chief operating officer now owns 16,353 shares of the company’s stock, valued at $1,025,169.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the transaction, the director now owns 7,490 shares of the company’s stock, valued at $337,050. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Keny Frank Wilper sold 635 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $62.69, for a total value of $39,808.15. Following the sale, the chief operating officer now directly owns 16,353 shares in the company, valued at $1,025,169.57. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,334 shares of company stock valued at $117,158. Company insiders own 15.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ALGT shares. Barclays lowered their target price on shares of Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft lowered Allegiant Travel from a “buy” rating to a “hold” rating and dropped their price objective for the company from $75.00 to $53.00 in a report on Monday, July 8th. Morgan Stanley cut their price objective on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating for the company in a research note on Monday, July 8th. TD Cowen raised their target price on Allegiant Travel from $33.00 to $42.00 and gave the company a “hold” rating in a research report on Thursday, October 3rd. Finally, Evercore ISI boosted their price target on Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Allegiant Travel currently has an average rating of “Hold” and an average target price of $63.13.

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.