Aristeia Capital L.L.C. Acquires Shares of 5,373 Allegiant Travel Company $ALGT

Key Points

• Aristeia Capital L.L.C. made a new investment of $278,000 in Allegiant Travel Company, acquiring 5,373 shares during the first quarter of 2023.
• Allegiant Travel reported earnings of $1.23 per share last quarter, exceeding expectations, with a 3.5% year-over-year revenue increase totaling $689.4 million.
• Institutional investors own approximately 85.81% of Allegiant Travel's stock, indicating significant institutional interest in the company.

Aristeia Capital L.L.C. bought a new position in shares of Allegiant Travel Company (NASDAQ:ALGT - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 5,373 shares of the transportation company's stock, valued at approximately $278,000.

A number of other institutional investors also recently modified their holdings of ALGT. Donald Smith & CO. Inc. lifted its holdings in shares of Allegiant Travel by 32.6% in the first quarter. Donald Smith & CO. Inc. now owns 1,350,447 shares of the transportation company's stock valued at $69,751,000 after purchasing an additional 331,998 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Allegiant Travel in the fourth quarter valued at about $26,067,000. Federated Hermes Inc. bought a new stake in shares of Allegiant Travel in the first quarter valued at about $9,864,000. Voloridge Investment Management LLC bought a new stake in shares of Allegiant Travel in the fourth quarter valued at about $16,713,000. Finally, MetLife Investment Management LLC lifted its holdings in shares of Allegiant Travel by 1,621.0% in the first quarter. MetLife Investment Management LLC now owns 159,691 shares of the transportation company's stock valued at $8,248,000 after purchasing an additional 150,412 shares in the last quarter. 85.81% of the stock is currently owned by institutional investors.

Allegiant Travel Stock Down 0.0%

Shares of NASDAQ:ALGT traded down $0.03 during midday trading on Friday, reaching $64.74. The company had a trading volume of 364,011 shares, compared to its average volume of 342,247. The company has a quick ratio of 1.07, a current ratio of 1.10 and a debt-to-equity ratio of 1.68. The business's 50 day moving average price is $56.34 and its 200 day moving average price is $54.26. The stock has a market cap of $1.19 billion, a PE ratio of -4.06, a P/E/G ratio of 0.59 and a beta of 1.71. Allegiant Travel Company has a 1-year low of $39.80 and a 1-year high of $107.57.

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 business had revenue of $689.40 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $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. Research analysts forecast that Allegiant Travel Company will post 7.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ALGT shares. Zacks Research upgraded Allegiant Travel from a "strong sell" rating to a "hold" rating in a report on Thursday, September 4th. Bank of America cut their price target on Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating on the stock in a report on Tuesday, July 8th. Morgan Stanley cut their price target on Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating on the stock in a report on Monday, July 7th. Evercore ISI upgraded 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. Finally, Susquehanna reaffirmed a "neutral" rating and issued a $50.00 target price (up previously from $45.00) on shares of Allegiant Travel in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus 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.