6,143 Shares in Allegiant Travel Company $ALGT Bought by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP purchased 6,143 shares of Allegiant Travel Company, valued at approximately $317,000, as per their recent Form 13F filing with the SEC.
• Institutional investors now hold 85.81% of Allegiant Travel's shares, with several hedge funds increasing their stakes significantly during the last quarter.
• Allegiant Travel reported earnings of $1.23 per share, surpassing estimates, and showed a year-over-year revenue growth of 3.5%.

Aigen Investment Management LP acquired a new stake in Allegiant Travel Company (NASDAQ:ALGT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,143 shares of the transportation company's stock, valued at approximately $317,000.

Other large investors have also made changes to their positions in the company. Farther Finance Advisors LLC grew its position in shares of Allegiant Travel by 489.1% in the first quarter. Farther Finance Advisors LLC now owns 542 shares of the transportation company's stock valued at $28,000 after purchasing an additional 450 shares during the period. Sterling Capital Management LLC grew its stake in Allegiant Travel by 803.6% during the 4th quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company's stock valued at $47,000 after acquiring an additional 442 shares in the last quarter. CWM LLC raised its holdings in Allegiant Travel by 400.8% in the 1st quarter. CWM LLC now owns 2,559 shares of the transportation company's stock valued at $132,000 after acquiring an additional 2,048 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Allegiant Travel by 1,486.7% in the 4th quarter. Russell Investments Group Ltd. now owns 1,904 shares of the transportation company's stock worth $179,000 after purchasing an additional 1,784 shares in the last quarter. Finally, Bank of Montreal Can acquired a new position in shares of Allegiant Travel during the 4th quarter worth approximately $213,000. 85.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on ALGT. Susquehanna reaffirmed a "neutral" rating and issued a $50.00 target price (up from $45.00) on shares of Allegiant Travel in a research note on Tuesday, August 5th. UBS Group reduced their target price on shares of Allegiant Travel from $59.00 to $52.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Evercore ISI raised shares of Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 price target for the company in a research note on Tuesday, July 1st. Barclays reduced their price target 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. Finally, 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 report on Monday, May 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $64.33.

Allegiant Travel Stock Down 3.0%

Shares of ALGT traded down $1.80 during mid-day trading on Monday, hitting $57.99. 219,601 shares of the company's stock were exchanged, compared to its average volume of 449,363. The stock's 50-day moving average is $53.59 and its 200-day moving average is $57.65. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.07 and a current ratio of 1.10. Allegiant Travel Company has a fifty-two week low of $39.10 and a fifty-two week high of $107.57. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -3.64, a P/E/G ratio of 0.54 and a beta of 1.72.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last released its earnings results on Monday, August 4th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.40. The firm had revenue of $689.40 million during the quarter, compared to analyst estimates of $685.58 million. Allegiant Travel had a positive return on equity of 5.00% and a negative net margin of 11.10%. Allegiant Travel's revenue was up 3.5% compared to the same quarter last year. During the same period last year, the business posted $0.75 earnings per share. On average, sell-side analysts anticipate that Allegiant Travel Company will post 7.7 earnings per share for the current fiscal year.

Allegiant Travel Company 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.