PDT Partners LLC Acquires 9,564 Shares of Allegiant Travel Company $ALGT

Key Points

• PDT Partners LLC increased its stake in Allegiant Travel Company by 393.6% in Q1, now owning 11,994 shares valued at approximately $619,000.
• Multiple analysts have adjusted their price targets for Allegiant Travel, with Barclays lowering its target to $52.00 and Bank of America adjusting it to $45.00 while the average target price remains at $64.33.
• Allegiant Travel reported an EPS of $1.23 for the most recent quarter, exceeding analysts' consensus estimates by $0.40, with a year-over-year revenue growth of 3.5%.

PDT Partners LLC increased its stake in Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 393.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,994 shares of the transportation company's stock after acquiring an additional 9,564 shares during the period. PDT Partners LLC owned approximately 0.07% of Allegiant Travel worth $619,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC boosted 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 worth $28,000 after acquiring an additional 450 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Allegiant Travel by 376.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,034 shares of the transportation company's stock worth $53,000 after acquiring an additional 817 shares during the last quarter. CWM LLC boosted its position in shares of Allegiant Travel by 400.8% in the first quarter. CWM LLC now owns 2,559 shares of the transportation company's stock worth $132,000 after acquiring an additional 2,048 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Allegiant Travel in the first quarter worth approximately $213,000. Finally, FORA Capital LLC acquired a new stake in shares of Allegiant Travel in the first quarter worth approximately $259,000. 85.81% of the stock is owned by institutional investors and hedge funds.

Allegiant Travel Stock Performance

Shares of NASDAQ ALGT traded up $2.78 during trading hours on Wednesday, reaching $63.54. The stock had a trading volume of 72,805 shares, compared to its average volume of 440,298. The business's fifty day moving average is $56.07 and its two-hundred day moving average is $54.70. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.10 and a quick ratio of 1.07. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -4.01, a PEG ratio of 0.57 and a beta of 1.71. Allegiant Travel Company has a twelve month low of $39.31 and a twelve month high of $107.57.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued its earnings results on Monday, August 4th. The transportation company reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.40. The business 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% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 earnings per share. Allegiant Travel has set its FY 2015 guidance at 2.250- EPS. Q3 2025 guidance at -2.750--1.750 EPS. As a group, research analysts expect that Allegiant Travel Company will post 7.7 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on ALGT. Morgan Stanley decreased their target price on shares of Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating on the stock in a research report on Monday, July 7th. Susquehanna restated a "neutral" rating and issued a $50.00 price target (up previously from $45.00) on shares of Allegiant Travel in a report on Tuesday, August 5th. Evercore ISI upgraded shares of Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 price target on the stock in a report on Tuesday, July 1st. 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. Finally, Bank of America cut their price target on shares of Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating on the stock in a report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently 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.