Balyasny Asset Management L.P. Sells 647,411 Shares of Allegiant Travel (NASDAQ:ALGT)

Balyasny Asset Management L.P. cut its holdings in shares of Allegiant Travel (NASDAQ:ALGT - Free Report) by 99.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 also recently modified their holdings of the business. Nisa Investment Advisors LLC lifted its holdings in Allegiant Travel by 1,614.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 9,017 shares of the transportation company's stock valued at $849,000 after buying an additional 8,491 shares during the period. Crews Bank & Trust bought a new position in shares of Allegiant Travel during the 4th quarter valued at approximately $25,000. Empowered Funds LLC grew its position in shares of Allegiant Travel by 5.0% during the 4th quarter. Empowered Funds LLC now owns 84,748 shares of the transportation company's stock valued at $7,976,000 after acquiring an additional 4,053 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Allegiant Travel by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 70,588 shares of the transportation company's stock valued at $6,644,000 after buying an additional 2,133 shares in the last quarter. Finally, Mutual of America Capital Management LLC purchased a new stake in Allegiant Travel in the 4th quarter worth approximately $207,000. Institutional investors and hedge funds own 85.81% of the company's stock.

Allegiant Travel Stock Down 1.2%

Allegiant Travel stock traded down $0.65 during trading hours on Friday, hitting $52.34. The stock had a trading volume of 247,157 shares, compared to its average volume of 431,196. The stock has a market capitalization of $955.47 million, a P/E ratio of -3.91 and a beta of 1.78. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The stock's 50-day moving average price is $50.21 and its 200-day moving average price is $72.25. Allegiant Travel has a 12-month low of $36.09 and a 12-month high of $107.57.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last announced its quarterly 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 company 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 earnings per share. The firm's quarterly revenue was up 6.5% compared to the same quarter last year. Equities research analysts anticipate that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ALGT has been the topic of a number of research analyst reports. Morgan Stanley decreased their price target on shares of Allegiant Travel from $93.00 to $85.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. Susquehanna decreased their price target on shares of Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. TD Cowen increased their price target on shares of Allegiant Travel from $35.00 to $50.00 and gave the stock a "hold" rating in a report on Monday, May 12th. Barclays reduced their target price on shares of 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, UBS Group increased their target price on shares of Allegiant Travel from $45.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $63.70.

Allegiant Travel 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.