Graham Capital Management L.P. Takes Position in Allegiant Travel (NASDAQ:ALGT)

Graham Capital Management L.P. bought a new stake in shares of Allegiant Travel (NASDAQ:ALGT) in the 4th quarter, HoldingsChannel.com reports. The firm bought 12,491 shares of the transportation company’s stock, valued at approximately $1,176,000.

Several other hedge funds have also modified their holdings of ALGT. GAMMA Investing LLC lifted its stake in Allegiant Travel by 53.5% in the 4th quarter. GAMMA Investing LLC now owns 677 shares of the transportation company’s stock worth $64,000 after acquiring an additional 236 shares in the last quarter. SeaCrest Wealth Management LLC lifted its stake in Allegiant Travel by 3.3% in the 4th quarter. SeaCrest Wealth Management LLC now owns 6,210 shares of the transportation company’s stock worth $584,000 after acquiring an additional 200 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Allegiant Travel by 1,614.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 9,017 shares of the transportation company’s stock worth $849,000 after acquiring an additional 8,491 shares in the last quarter. Crews Bank & Trust purchased a new stake in Allegiant Travel in the 4th quarter worth about $25,000. Finally, Empowered Funds LLC lifted its stake in Allegiant Travel by 5.0% in the 4th quarter. Empowered Funds LLC now owns 84,748 shares of the transportation company’s stock worth $7,976,000 after acquiring an additional 4,053 shares in the last quarter. 85.81% of the stock is owned by hedge funds and other institutional investors.

Allegiant Travel Stock Up 9.0%

ALGT opened at $59.35 on Tuesday. Allegiant Travel has a fifty-two week low of $36.09 and a fifty-two week high of $107.57. The business has a 50-day moving average of $50.44 and a 200-day moving average of $72.95. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The company has a market capitalization of $1.08 billion, a PE ratio of -4.44 and a beta of 1.78.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings data on Tuesday, May 6th. The transportation company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.27. The business had revenue of $699.07 million for the quarter, compared to analyst estimates of $700.00 million. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.57 EPS. Equities research analysts forecast that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on ALGT. Raymond James reissued a “strong-buy” rating and issued a $80.00 price objective (down from $90.00) on shares of Allegiant Travel in a research note on Wednesday, May 7th. Susquehanna reduced their price objective on Allegiant Travel from $95.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. TD Cowen increased their price objective on Allegiant Travel from $35.00 to $50.00 and gave the stock a “hold” rating in a research note on Monday. UBS Group reduced their price objective on Allegiant Travel from $61.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Finally, Bank of America cut their price target on Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating for the company in a research note on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $63.20.

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.