XTX Topco Ltd Takes Position in Allegiant Travel (NASDAQ:ALGT)

XTX Topco Ltd acquired a new stake in Allegiant Travel (NASDAQ:ALGT) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 15,212 shares of the transportation company’s stock, valued at approximately $764,000.

Several other institutional investors have also modified their holdings of ALGT. Donald Smith & CO. Inc. lifted its stake in shares of Allegiant Travel by 166.7% in the 2nd quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company’s stock valued at $41,506,000 after purchasing an additional 516,545 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Allegiant Travel by 14.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 798,573 shares of the transportation company’s stock valued at $65,972,000 after purchasing an additional 98,662 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Allegiant Travel in the 2nd quarter valued at approximately $4,263,000. Interval Partners LP bought a new stake in shares of Allegiant Travel in the 1st quarter valued at approximately $5,641,000. Finally, American Century Companies Inc. lifted its stake in shares of 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. 85.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on ALGT. Morgan Stanley dropped their price objective on Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. Susquehanna dropped their price objective on Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Evercore ISI dropped their price objective on Allegiant Travel from $85.00 to $60.00 and set an “in-line” rating for the company in a report on Monday, July 15th. 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 report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft cut 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. 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 company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $59.50.

Allegiant Travel Price Performance

Shares of ALGT stock opened at $45.81 on Monday. Allegiant Travel has a twelve month low of $36.08 and a twelve month high of $85.91. The stock has a market capitalization of $835.21 million, a price-to-earnings ratio of 14.50, a P/E/G ratio of 5.50 and a beta of 1.64. The stock has a fifty day simple moving average of $43.92 and a two-hundred day simple moving average of $52.95. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.30.

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

Insider Transactions at Allegiant Travel

In other news, Director Gary Ellmer sold 1,000 shares of the business’s 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 transaction, the director now directly owns 7,490 shares of the company’s stock, valued at approximately $337,050. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 17.50% of the company’s stock.

About Allegiant Travel

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.