Graham Capital Management L.P. Acquires New Stake in Allegiant Travel (NASDAQ:ALGT)

Graham Capital Management L.P. acquired a new position in Allegiant Travel (NASDAQ:ALGT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,491 shares of the transportation company's stock, valued at approximately $1,176,000. Graham Capital Management L.P. owned about 0.07% of Allegiant Travel as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Deutsche Bank AG raised its stake in shares of Allegiant Travel by 209.6% in the fourth quarter. Deutsche Bank AG now owns 26,573 shares of the transportation company's stock worth $2,501,000 after purchasing an additional 17,991 shares during the last quarter. Concentric Capital Strategies LP purchased a new stake in shares of Allegiant Travel in the fourth quarter worth approximately $1,679,000. Bridgeway Capital Management LLC raised its stake in shares of Allegiant Travel by 3.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 129,948 shares of the transportation company's stock worth $12,231,000 after purchasing an additional 4,053 shares during the last quarter. Caxton Associates LP purchased a new stake in shares of Allegiant Travel in the fourth quarter worth approximately $930,000. Finally, Ameriprise Financial Inc. increased its position in shares of Allegiant Travel by 137.7% during the fourth quarter. Ameriprise Financial Inc. now owns 120,470 shares of the transportation company's stock valued at $11,339,000 after acquiring an additional 69,786 shares during the last quarter. 85.81% of the stock is owned by hedge funds and other institutional investors.

Allegiant Travel Stock Performance

NASDAQ ALGT traded up $0.87 on Friday, hitting $56.13. 357,609 shares of the stock traded hands, compared to its average volume of 431,269. The business's fifty day moving average is $50.25 and its two-hundred day moving average is $72.76. Allegiant Travel has a 12 month low of $36.09 and a 12 month high of $107.57. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -4.20 and a beta of 1.78. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The transportation company reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.27. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. The firm had revenue of $699.07 million during the quarter, compared to analyst estimates of $700.00 million. During the same period last year, the company earned $0.57 earnings per share. The business's revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities analysts anticipate that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on ALGT shares. Raymond James reaffirmed a "strong-buy" rating and set a $80.00 price target (down from $90.00) on shares of Allegiant Travel in a research report on Wednesday, May 7th. TD Cowen increased their price target on Allegiant Travel from $35.00 to $50.00 and gave the company a "hold" rating in a research report on Monday, May 12th. UBS Group increased their price target on Allegiant Travel from $45.00 to $60.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Bank of America decreased their price target on Allegiant Travel from $95.00 to $50.00 and set an "underperform" rating for the company in a research report on Thursday, April 3rd. Finally, Morgan Stanley increased their price target on Allegiant Travel from $90.00 to $95.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $64.70.

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.