Mountain Lake Investment Management LLC Has $6.71 Million Position in Allegiant Travel Company $ALGT

Key Points

• Mountain Lake Investment Management LLC increased its stake in Allegiant Travel Company by 20.3%, making it the firm's 7th largest position, with approximately 0.71% of the company's stock worth $6.7 million.
• Allegiant Travel reported a quarterly earnings per share of $1.23, significantly exceeding analyst estimates of $0.83, along with a revenue of $689.4 million, reflecting a year-over-year increase of 3.5%.
• Currently, Allegiant Travel's stock has an average rating of "Hold" from analysts, with a target price of around $64.33, indicating mixed sentiments regarding its future performance.

Mountain Lake Investment Management LLC increased its position in shares of Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 20.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,939 shares of the transportation company's stock after purchasing an additional 21,939 shares during the quarter. Allegiant Travel makes up approximately 6.3% of Mountain Lake Investment Management LLC's holdings, making the stock its 7th biggest holding. Mountain Lake Investment Management LLC owned approximately 0.71% of Allegiant Travel worth $6,711,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Allegiant Travel by 3.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,808 shares of the transportation company's stock worth $829,000 after buying an additional 292 shares during the period. Picton Mahoney Asset Management grew its position in shares of Allegiant Travel by 6.6% during the 1st quarter. Picton Mahoney Asset Management now owns 5,550 shares of the transportation company's stock worth $286,000 after buying an additional 344 shares during the period. Farther Finance Advisors LLC grew its position in shares of Allegiant Travel by 489.1% during the 1st quarter. Farther Finance Advisors LLC now owns 542 shares of the transportation company's stock worth $28,000 after buying an additional 450 shares during the period. New York State Common Retirement Fund grew its position in shares of Allegiant Travel by 8.5% during the 1st quarter. New York State Common Retirement Fund now owns 6,003 shares of the transportation company's stock worth $310,000 after buying an additional 470 shares during the period. Finally, US Bancorp DE grew its position in shares of Allegiant Travel by 15.9% during the 1st quarter. US Bancorp DE now owns 5,825 shares of the transportation company's stock worth $301,000 after buying an additional 800 shares during the period. Institutional investors and hedge funds own 85.81% of the company's stock.

Allegiant Travel Stock Up 2.8%

ALGT traded up $1.76 on Thursday, hitting $64.71. 105,235 shares of the company were exchanged, compared to its average volume of 440,398. Allegiant Travel Company has a 12 month low of $39.80 and a 12 month high of $107.57. The company has a market cap of $1.19 billion, a PE ratio of -4.06, a PEG ratio of 0.55 and a beta of 1.71. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.07 and a current ratio of 1.10. The stock's fifty day moving average is $56.15 and its 200-day moving average is $54.76.

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

Analysts Set New Price Targets

ALGT has been the topic of several recent analyst reports. Morgan Stanley reduced their price objective on shares of Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating on the stock in a research note on Monday, July 7th. Evercore ISI upgraded Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 target price on the stock in a report on Tuesday, July 1st. UBS Group reduced their target price on Allegiant Travel from $59.00 to $52.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Zacks Research upgraded Allegiant Travel from a "strong sell" rating to a "hold" rating in a report on Thursday, September 4th. Finally, Susquehanna reiterated a "neutral" rating and set a $50.00 target price (up from $45.00) on shares of Allegiant Travel in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Allegiant Travel has an average rating of "Hold" and a consensus price target of $64.33.

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.