Allegiant Travel Company $ALGT Shares Acquired by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd increased its stake in Allegiant Travel Company by 1,630.2%, holding 11,333 shares valued at $585,000.
• The stock experienced a 2.8% decline and currently has a market capitalization of $1.11 billion, with a P/E ratio of -3.81.
• Allegiant Travel reported earnings of $1.23 EPS for the most recent quarter, exceeding the consensus estimate of $0.83.

Bayforest Capital Ltd lifted its position in Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 1,630.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,333 shares of the transportation company's stock after purchasing an additional 10,678 shares during the quarter. Bayforest Capital Ltd owned about 0.06% of Allegiant Travel worth $585,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC raised its stake in shares of Allegiant Travel by 489.1% in the first 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 stake in shares of Allegiant Travel by 376.5% in the first 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. CWM LLC raised its stake in shares of Allegiant Travel by 400.8% in the first 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. Y Intercept Hong Kong Ltd purchased a new position in Allegiant Travel during the first quarter valued at approximately $213,000. Finally, ProShare Advisors LLC purchased a new position in Allegiant Travel during the fourth quarter valued at approximately $438,000. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ALGT has been the subject of several recent research reports. Susquehanna reiterated a "neutral" rating and set a $50.00 price target (up from $45.00) on shares of Allegiant Travel in a research report on Tuesday, August 5th. Evercore ISI upgraded Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 price target for the company in a research report on Tuesday, July 1st. Zacks Research upgraded Allegiant Travel from a "strong sell" rating to a "hold" rating in a research report on Thursday, September 4th. UBS Group reduced their price target on Allegiant Travel from $59.00 to $52.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Finally, Morgan Stanley reduced their target price on Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating for the company in a research note on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $64.33.

Allegiant Travel Trading Down 3.7%

NASDAQ:ALGT traded down $2.38 during trading hours on Monday, hitting $62.37. The company had a trading volume of 145,993 shares, compared to its average volume of 439,298. The company has a current ratio of 1.10, a quick ratio of 1.07 and a debt-to-equity ratio of 1.68. The company has a 50-day moving average of $56.34 and a 200 day moving average of $54.26. The company has a market cap of $1.14 billion, a P/E ratio of -3.91, 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 issued its earnings results on Monday, August 4th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.40. The company had revenue of $689.40 million during the quarter, compared to analysts' expectations of $685.58 million. Allegiant Travel had a positive return on equity of 5.00% and a negative net margin of 11.10%.The firm's quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.75 EPS. Allegiant Travel has set its FY 2015 guidance at 2.250- EPS. Q3 2025 guidance at -2.750--1.750 EPS. Sell-side analysts expect that Allegiant Travel Company will post 7.7 earnings per share for the current year.

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.