GAMMA Investing LLC raised its holdings in Allegiant Travel (NASDAQ:ALGT - Free Report) by 5,248.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,207 shares of the transportation company's stock after acquiring an additional 35,530 shares during the period. GAMMA Investing LLC owned approximately 0.20% of Allegiant Travel worth $1,870,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of ALGT. Principal Financial Group Inc. raised its holdings in Allegiant Travel by 3.1% in the 4th quarter. Principal Financial Group Inc. now owns 70,588 shares of the transportation company's stock valued at $6,644,000 after acquiring an additional 2,133 shares during the last quarter. Mutual of America Capital Management LLC acquired a new stake in Allegiant Travel in the 4th quarter valued at about $207,000. US Bancorp DE raised its holdings in Allegiant Travel by 575.4% in the 4th quarter. US Bancorp DE now owns 5,025 shares of the transportation company's stock valued at $473,000 after acquiring an additional 4,281 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Allegiant Travel by 94.5% in the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company's stock valued at $43,000 after acquiring an additional 223 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Allegiant Travel by 18.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 304,642 shares of the transportation company's stock valued at $28,673,000 after acquiring an additional 47,186 shares during the last quarter. Institutional investors and hedge funds own 85.81% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have commented on ALGT. Raymond James reiterated a "strong-buy" rating and issued a $80.00 price objective (down previously from $90.00) on shares of Allegiant Travel in a report on Wednesday, May 7th. Susquehanna dropped their price target on shares of Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. TD Cowen increased their price target on shares of Allegiant Travel from $35.00 to $50.00 and gave the company a "hold" rating in a research note on Monday, May 12th. Barclays dropped their price target on shares of Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. Finally, Bank of America dropped their price target on shares of Allegiant Travel from $95.00 to $50.00 and set an "underperform" rating for the company in a research note on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Allegiant Travel has an average rating of "Hold" and an average price target of $63.70.
Read Our Latest Stock Report on Allegiant Travel
Allegiant Travel Trading Down 4.9%
Allegiant Travel stock traded down $2.64 during trading on Friday, hitting $51.05. The company had a trading volume of 653,539 shares, compared to its average volume of 429,545. Allegiant Travel has a 1-year low of $36.09 and a 1-year high of $107.57. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The company's 50 day simple moving average is $51.26 and its 200-day simple moving average is $70.11. The stock has a market cap of $931.92 million, a price-to-earnings ratio of -3.82 and a beta of 1.74.
Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its earnings results on Tuesday, May 6th. The transportation company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.27. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. The firm had revenue of $699.07 million during the quarter, compared to the consensus estimate of $700.00 million. During the same quarter last year, the firm earned $0.57 EPS. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. As a group, analysts expect that Allegiant Travel will post 7.7 EPS for the current fiscal year.
Allegiant Travel Company Profile
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Free Report)
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.
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