Donald Smith & CO. Inc. Purchases 516,545 Shares of Allegiant Travel (NASDAQ:ALGT)

Donald Smith & CO. Inc. boosted its position in shares of Allegiant Travel (NASDAQ:ALGT) by 166.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 826,326 shares of the transportation company’s stock after purchasing an additional 516,545 shares during the period. Donald Smith & CO. Inc.’s holdings in Allegiant Travel were worth $41,506,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ALGT. Innealta Capital LLC purchased a new position in shares of Allegiant Travel in the second quarter worth $34,000. CWM LLC lifted its stake in Allegiant Travel by 275.1% during the 2nd quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock valued at $64,000 after acquiring an additional 930 shares during the period. SG Americas Securities LLC bought a new position in Allegiant Travel during the 1st quarter valued at about $141,000. Commerce Bank bought a new stake in shares of Allegiant Travel in the fourth quarter worth approximately $201,000. Finally, Headlands Technologies LLC grew its stake in shares of Allegiant Travel by 170.6% in the second quarter. Headlands Technologies LLC now owns 2,522 shares of the transportation company’s stock worth $127,000 after acquiring an additional 1,590 shares during the period. 85.81% of the stock is owned by hedge funds and other institutional investors.

Allegiant Travel Stock Down 0.8 %

ALGT stock opened at $41.55 on Monday. The business’s 50-day moving average price is $44.35 and its 200-day moving average price is $54.01. The stock has a market cap of $757.54 million, a P/E ratio of 13.15, a PEG ratio of 5.50 and a beta of 1.64. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 1.30. Allegiant Travel has a twelve month low of $36.08 and a twelve month high of $88.09.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings results on Wednesday, July 31st. The transportation company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.93. The business had revenue of $666.28 million for the quarter, compared to the consensus estimate of $657.74 million. Allegiant Travel had a negative net margin of 0.57% and a positive return on equity of 3.48%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.35 earnings per share. On average, equities research analysts forecast that Allegiant Travel will post 0.96 EPS for the current year.

Insiders Place Their Bets

In other news, Director Gary Ellmer sold 1,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the transaction, the director now directly owns 7,490 shares in the company, valued at $337,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 17.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ALGT has been the topic of several research reports. Susquehanna dropped their target price on shares of Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Morgan Stanley dropped their price target on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Monday, July 8th. Deutsche Bank Aktiengesellschaft cut Allegiant Travel from a “buy” rating to a “hold” rating and reduced their price objective for the company from $75.00 to $53.00 in a research report on Monday, July 8th. TD Cowen dropped their target price on Allegiant Travel from $39.00 to $33.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Finally, Evercore ISI reduced their price target on shares of Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating for the company in a research report on Monday, July 15th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $59.50.

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.