Donald Smith & CO. Inc. Purchases 156,186 Shares of Allegiant Travel Company $ALGT

Donald Smith & CO. Inc. boosted its holdings in shares of Allegiant Travel Company (NASDAQ:ALGT) by 11.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,506,633 shares of the transportation company’s stock after purchasing an additional 156,186 shares during the period. Allegiant Travel comprises approximately 1.9% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 23rd biggest position. Donald Smith & CO. Inc. owned 0.08% of Allegiant Travel worth $82,789,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ALGT. Steward Partners Investment Advisory LLC raised its stake in Allegiant Travel by 28.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 930 shares of the transportation company’s stock worth $51,000 after acquiring an additional 205 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Allegiant Travel by 376.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,034 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 817 shares during the last quarter. GAMMA Investing LLC increased its position in Allegiant Travel by 58.1% during 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. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Allegiant Travel in the 2nd quarter valued at approximately $204,000. Finally, Envestnet Asset Management Inc. acquired a new stake in Allegiant Travel in the second quarter valued at approximately $205,000. Institutional investors own 85.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ALGT shares. UBS Group upped their price target on shares of Allegiant Travel from $65.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Citigroup initiated coverage on Allegiant Travel in a research report on Thursday. They set a “neutral” rating and a $88.00 price objective on the stock. Bank of America increased their target price on Allegiant Travel from $50.00 to $55.00 and gave the company an “underperform” rating in a research report on Wednesday, October 1st. Barclays lifted their price target on Allegiant Travel from $52.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 1st. Finally, Susquehanna boosted their price target on Allegiant Travel from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $73.10.

Allegiant Travel Price Performance

ALGT stock opened at $82.64 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.98 and a debt-to-equity ratio of 1.76. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -5.07, a PEG ratio of 0.56 and a beta of 1.67. The company’s fifty day simple moving average is $66.62 and its 200 day simple moving average is $59.96. Allegiant Travel Company has a 12-month low of $39.80 and a 12-month high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Thursday, May 12th. The transportation company reported $1.18 earnings per share for the quarter. The firm had revenue of $496.88 million during the quarter. Allegiant Travel had a positive return on equity of 5.24% and a negative net margin of 11.36%. On average, analysts expect that Allegiant Travel Company will post 7.7 earnings per share for the current year.

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.