Allegiant Travel (NASDAQ:ALGT) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. decreased its stake in Allegiant Travel (NASDAQ:ALGT - Free Report) by 99.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,200 shares of the transportation company's stock after selling 647,411 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Allegiant Travel were worth $207,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ALGT. Crews Bank & Trust purchased a new stake in shares of Allegiant Travel during the fourth quarter worth about $25,000. Jones Financial Companies Lllp grew its holdings in Allegiant Travel by 94.5% during the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company's stock valued at $43,000 after buying an additional 223 shares in the last quarter. Sterling Capital Management LLC grew its holdings 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 buying an additional 442 shares in the last quarter. Signaturefd LLC grew its holdings in Allegiant Travel by 30.3% during the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company's stock valued at $56,000 after buying an additional 138 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Allegiant Travel in the 4th quarter valued at approximately $75,000. Hedge funds and other institutional investors own 85.81% of the company's stock.

Allegiant Travel Stock Performance

Shares of ALGT stock traded down $3.95 during mid-day trading on Wednesday, reaching $51.46. The stock had a trading volume of 490,725 shares, compared to its average volume of 430,690. The firm has a market cap of $939.40 million, a price-to-earnings ratio of -3.85 and a beta of 1.78. The business's fifty day moving average is $50.24 and its 200-day moving average is $72.44. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. Allegiant Travel has a 1-year low of $36.09 and a 1-year high of $107.57.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The transportation company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.27. The business had revenue of $699.07 million during the quarter, compared to analysts' expectations of $700.00 million. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. The company's revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 EPS. On average, research analysts forecast that Allegiant Travel will post 7.7 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Susquehanna lowered their price objective on Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Raymond James reiterated a "strong-buy" rating and issued a $80.00 price target (down from $90.00) on shares of Allegiant Travel in a report on Wednesday, May 7th. TD Cowen lifted their price target on Allegiant Travel from $35.00 to $50.00 and gave the company a "hold" rating in a report on Monday, May 12th. Barclays cut their price target on Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. Finally, Bank of America lowered their price objective on Allegiant Travel from $95.00 to $50.00 and set an "underperform" rating for the company in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $63.70.

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.