Graham Capital Management L.P. Increases Holdings in Allegiant Travel Company $ALGT

Graham Capital Management L.P. grew its holdings in shares of Allegiant Travel Company (NASDAQ:ALGT) by 184.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,469 shares of the transportation company’s stock after buying an additional 22,978 shares during the quarter. Graham Capital Management L.P. owned 0.19% of Allegiant Travel worth $1,832,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. FORA Capital LLC purchased a new stake in shares of Allegiant Travel during the 1st quarter valued at about $259,000. Synovus Financial Corp raised its position in shares of Allegiant Travel by 57.8% during the 1st quarter. Synovus Financial Corp now owns 10,105 shares of the transportation company’s stock valued at $522,000 after buying an additional 3,702 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of Allegiant Travel by 1,621.0% during the 1st quarter. MetLife Investment Management LLC now owns 159,691 shares of the transportation company’s stock valued at $8,248,000 after buying an additional 150,412 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Allegiant Travel during the 1st quarter valued at about $4,463,000. Finally, Jump Financial LLC purchased a new stake in shares of Allegiant Travel during the 1st quarter valued at about $2,234,000. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Allegiant Travel Stock Performance

Shares of NASDAQ:ALGT opened at $62.66 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 1.07 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -3.93, a PEG ratio of 0.57 and a beta of 1.71. The firm’s 50-day moving average is $55.07 and its 200 day moving average is $55.36. Allegiant Travel Company has a 12 month low of $39.10 and a 12 month high of $107.57.

Allegiant Travel (NASDAQ:ALGT) last issued its earnings results on Monday, August 4th. The transportation company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.40. The business had revenue of $689.40 million for the quarter, compared to the consensus estimate of $685.58 million. Allegiant Travel had a negative net margin of 11.10% and a positive return on equity of 5.00%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 EPS. Allegiant Travel has set its FY 2015 guidance at 2.250- EPS. Q3 2025 guidance at -2.750–1.750 EPS. Research analysts predict that Allegiant Travel Company will post 7.7 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ALGT shares. Barclays decreased their target price on shares of Allegiant Travel from $60.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 8th. Morgan Stanley cut their price target on shares of Allegiant Travel from $85.00 to $83.00 and set an “equal weight” rating on the stock in a report on Monday, July 7th. UBS Group cut their price target on shares of Allegiant Travel from $59.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Raymond James Financial reiterated a “strong-buy” rating and set a $80.00 price target (down from $90.00) on shares of Allegiant Travel in a report on Wednesday, May 7th. Finally, Susquehanna reiterated a “neutral” rating and set a $50.00 price target (up from $45.00) on shares of Allegiant Travel in a report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Allegiant Travel has an average rating of “Hold” and an average target price of $64.33.

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.