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

Donald Smith & CO. Inc. boosted its position in Allegiant Travel (NASDAQ:ALGT) by 166.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 826,326 shares of the transportation company’s stock after acquiring an additional 516,545 shares during the quarter. Donald Smith & CO. Inc. owned 4.53% of Allegiant Travel worth $41,506,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in Allegiant Travel by 14.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 798,573 shares of the transportation company’s stock worth $65,972,000 after purchasing an additional 98,662 shares during the period. Franklin Resources Inc. lifted its stake in shares of Allegiant Travel by 15.4% in the 4th quarter. Franklin Resources Inc. now owns 620,180 shares of the transportation company’s stock valued at $51,233,000 after acquiring an additional 82,813 shares during the last quarter. Interval Partners LP bought a new stake in shares of Allegiant Travel in the 1st quarter valued at about $5,641,000. American Century Companies Inc. grew 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 worth $21,538,000 after acquiring an additional 56,208 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake 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 during the period. Hedge funds and other institutional investors own 85.81% of the company’s stock.

Insider Activity at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the sale, the director now owns 7,490 shares in the company, valued at $337,050. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 17.50% of the stock is currently owned by corporate insiders.

Allegiant Travel Stock Down 0.8 %

Shares of NASDAQ:ALGT opened at $41.55 on Monday. 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 52-week low of $36.08 and a 52-week high of $88.09. The firm has a market capitalization of $757.54 million, a P/E ratio of 13.15, a P/E/G ratio of 5.50 and a beta of 1.64. The stock has a 50 day moving average price of $44.35 and a 200-day moving average price of $54.01.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Wednesday, July 31st. The transportation company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.93. The business had revenue of $666.28 million during the quarter, compared to the consensus estimate 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 quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.35 earnings per share. As a group, equities research analysts anticipate that Allegiant Travel will post 0.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ALGT has been the subject of a number of analyst reports. Barclays dropped their price objective on Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Morgan Stanley cut their price target on shares of Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. Evercore ISI lowered their price objective on shares of Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating for the company in a research note on Monday, July 15th. Susquehanna cut their target price on Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. Finally, TD Cowen lowered their price target on Allegiant Travel from $39.00 to $33.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Two research 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 data from MarketBeat, Allegiant Travel presently has an average rating of “Hold” and a consensus target price of $59.50.

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.