Allegiant Travel (NASDAQ:ALGT) Shares Purchased by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. increased its position in Allegiant Travel (NASDAQ:ALGT - Free Report) by 20.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 993,474 shares of the transportation company's stock after acquiring an additional 167,148 shares during the period. Allegiant Travel comprises approximately 1.3% of Donald Smith & CO. Inc.'s holdings, making the stock its 29th largest position. Donald Smith & CO. Inc. owned approximately 5.45% of Allegiant Travel worth $54,701,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Allegiant Travel by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 1,749,649 shares of the transportation company's stock worth $131,591,000 after purchasing an additional 38,612 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in Allegiant Travel by 1.9% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 945,839 shares of the transportation company's stock valued at $47,509,000 after purchasing an additional 17,792 shares during the last quarter. U S Global Investors Inc. boosted its position in Allegiant Travel by 51.9% in the 3rd quarter. U S Global Investors Inc. now owns 741,429 shares of the transportation company's stock valued at $40,823,000 after buying an additional 253,198 shares during the period. American Century Companies Inc. raised its position in Allegiant Travel by 15.1% during the 2nd quarter. American Century Companies Inc. now owns 428,787 shares of the transportation company's stock valued at $21,538,000 after purchasing an additional 56,208 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Allegiant Travel by 7.7% in the second quarter. Bank of New York Mellon Corp now owns 215,533 shares of the transportation company's stock valued at $10,826,000 after acquiring an additional 15,469 shares in the last quarter. 85.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALGT has been the subject of several research reports. Morgan Stanley lowered their price target on shares of Allegiant Travel from $95.00 to $87.00 and set an "equal weight" rating for the company in a research report on Monday, July 8th. 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. Deutsche Bank Aktiengesellschaft downgraded shares of Allegiant Travel from a "buy" rating to a "hold" rating and reduced their target price for the stock from $75.00 to $53.00 in a report on Monday, July 8th. TD Cowen boosted their price objective on shares of Allegiant Travel from $33.00 to $42.00 and gave the stock a "hold" rating in a research note on Thursday, October 3rd. Finally, Susquehanna raised their price objective on Allegiant Travel from $40.00 to $55.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Allegiant Travel presently has an average rating of "Hold" and a consensus target price of $63.13.

Insider Buying and Selling

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

Allegiant Travel Price Performance

Shares of Allegiant Travel stock traded up $2.27 on Wednesday, reaching $62.96. The company's stock had a trading volume of 710,828 shares, compared to its average volume of 363,764. Allegiant Travel has a 52-week low of $36.08 and a 52-week high of $85.91. The company has a market capitalization of $1.15 billion, a P/E ratio of -68.19, a PEG ratio of 3.11 and a beta of 1.65. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 1.30. The stock has a 50-day moving average price of $50.44 and a 200-day moving average price of $50.77.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The transportation company reported $1.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.93. The company had revenue of $666.28 million for the quarter, compared to analyst estimates of $657.74 million. Allegiant Travel had a positive return on equity of 3.48% and a negative net margin of 0.57%. The firm's revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.35 earnings per share. Analysts expect that Allegiant Travel will post 1.47 EPS for the current year.

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.