Concentric Capital Strategies LP Invests $1.68 Million in Allegiant Travel (NASDAQ:ALGT)

Concentric Capital Strategies LP bought a new position in shares of Allegiant Travel (NASDAQ:ALGT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 17,839 shares of the transportation company's stock, valued at approximately $1,679,000. Concentric Capital Strategies LP owned 0.10% of Allegiant Travel at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of Allegiant Travel by 136.9% during the third quarter. Barclays PLC now owns 31,876 shares of the transportation company's stock worth $1,755,000 after buying an additional 18,421 shares in the last quarter. Franklin Resources Inc. raised its stake in Allegiant Travel by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 600,211 shares of the transportation company's stock worth $34,584,000 after purchasing an additional 14,852 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Allegiant Travel by 53.5% in the 4th quarter. GAMMA Investing LLC now owns 677 shares of the transportation company's stock valued at $64,000 after purchasing an additional 236 shares during the period. SeaCrest Wealth Management LLC boosted its holdings 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 valued at $584,000 after purchasing an additional 200 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in shares of Allegiant Travel by 1,614.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 9,017 shares of the transportation company's stock worth $849,000 after purchasing an additional 8,491 shares in the last quarter. 85.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Susquehanna cut their price target 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. Barclays reduced their target price on Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating on the stock in a report on Thursday. Morgan Stanley boosted their price target on Allegiant Travel from $90.00 to $95.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. StockNews.com raised shares of Allegiant Travel from a "sell" rating to a "hold" rating in a research report on Wednesday, January 15th. Finally, The Goldman Sachs Group raised their target price on shares of Allegiant Travel from $83.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $65.20.

Allegiant Travel Price Performance

Shares of ALGT traded down $0.21 during trading hours on Friday, reaching $54.39. The stock had a trading volume of 324,533 shares, compared to its average volume of 427,816. 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 has a 12 month low of $36.09 and a 12 month high of $107.57. The stock has a market capitalization of $992.89 million, a PE ratio of -4.07 and a beta of 1.78. The company's 50-day moving average is $50.57 and its two-hundred day moving average is $72.91.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last announced its quarterly earnings results 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 firm 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 business's revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the firm posted $0.57 earnings per share. Research analysts expect that Allegiant Travel will post 7.7 EPS for the current year.

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.