Bayforest Capital Ltd Acquires 4,381 Shares of Allegiant Travel Company $ALGT

Key Points

• Bayforest Capital Ltd increased its stake in Allegiant Travel Company by 38.7% to own a total of 15,714 shares, worth approximately $863,000.
• Analysts have varying opinions on Allegiant Travel, with updated target prices; Barclays increased its target from $52 to $60, while Evercore ISI raised theirs from $75 to $85, indicating a generally optimistic outlook.
• Allegiant Travel has a market cap of $1.12 billion and reported a negative net margin of -11.10% in its latest earnings results, showing challenges despite potential growth.

Bayforest Capital Ltd lifted its stake in Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 38.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,714 shares of the transportation company's stock after purchasing an additional 4,381 shares during the quarter. Bayforest Capital Ltd owned 0.09% of Allegiant Travel worth $863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of ALGT. Farther Finance Advisors LLC raised its position in shares of Allegiant Travel by 489.1% in the 1st quarter. Farther Finance Advisors LLC now owns 542 shares of the transportation company's stock worth $28,000 after purchasing an additional 450 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Allegiant Travel by 376.5% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,034 shares of the transportation company's stock worth $53,000 after purchasing an additional 817 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Allegiant Travel by 58.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,108 shares of the transportation company's stock worth $61,000 after purchasing an additional 407 shares during the last quarter. CWM LLC raised its position in shares of Allegiant Travel by 400.8% in the 1st quarter. CWM LLC now owns 2,559 shares of the transportation company's stock worth $132,000 after purchasing an additional 2,048 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Allegiant Travel in the 1st quarter worth about $213,000. Hedge funds and other institutional investors own 85.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Barclays upped their target price on shares of Allegiant Travel from $52.00 to $60.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 1st. Morgan Stanley lowered 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 note on Monday, July 7th. Susquehanna upped their target price on shares of Allegiant Travel from $50.00 to $65.00 and gave the company a "neutral" rating in a research note on Friday, October 3rd. Evercore ISI upped their target price on shares of Allegiant Travel from $75.00 to $85.00 and gave the company an "outperform" rating in a research note on Monday, September 29th. Finally, UBS Group upped their target price on shares of Allegiant Travel from $52.00 to $65.00 and gave the company a "neutral" rating in a research note on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Allegiant Travel has an average rating of "Hold" and a consensus price target of $70.56.

Allegiant Travel Price Performance

NASDAQ ALGT opened at $61.04 on Tuesday. The company has a 50-day moving average price of $60.15 and a 200-day moving average price of $54.77. The firm has a market capitalization of $1.12 billion, a P/E ratio of -3.83, a PEG ratio of 0.46 and a beta of 1.71. Allegiant Travel Company has a 52 week low of $39.80 and a 52 week high of $107.57. The company has a quick ratio of 1.07, a current ratio of 1.10 and a debt-to-equity ratio of 1.68.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last released its earnings results on Thursday, May 12th. The transportation company reported $1.18 earnings per share (EPS) for the quarter. The company had revenue of $496.88 million during the quarter. Allegiant Travel had a negative net margin of 11.10% and a positive return on equity of 5.00%. Equities research analysts anticipate that Allegiant Travel Company will post 7.7 earnings per share for the current year.

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.

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