Bayforest Capital Ltd Has $585,000 Stake in Allegiant Travel Company $ALGT

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALGT. Farther Finance Advisors LLC grew its holdings in Allegiant Travel by 489.1% in the 1st quarter. Farther Finance Advisors LLC now owns 542 shares of the transportation company's stock valued at $28,000 after buying an additional 450 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in 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 valued at $53,000 after buying an additional 817 shares during the last quarter. CWM LLC grew its holdings in Allegiant Travel by 400.8% in the 1st quarter. CWM LLC now owns 2,559 shares of the transportation company's stock valued at $132,000 after buying an additional 2,048 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Allegiant Travel in the 1st quarter worth approximately $213,000. Finally, FORA Capital LLC bought a new stake in shares of Allegiant Travel in the 1st quarter worth approximately $259,000. Institutional investors and hedge funds own 85.81% of the company's stock.

Allegiant Travel Stock Down 2.8%

NASDAQ ALGT opened at $60.76 on Wednesday. The stock has a fifty day moving average of $56.07 and a 200-day moving average of $54.70. The stock has a market capitalization of $1.11 billion, a P/E ratio of -3.81, a price-to-earnings-growth ratio of 0.57 and a beta of 1.71. Allegiant Travel Company has a 52 week low of $39.10 and a 52 week high of $107.57. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.07 and a current ratio of 1.10.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last released its earnings results on Monday, August 4th. The transportation company reported $1.23 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 business's revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the firm 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. On average, equities research analysts forecast that Allegiant Travel Company will post 7.7 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on ALGT shares. Susquehanna reiterated a "neutral" rating and issued a $50.00 price objective (up previously from $45.00) on shares of Allegiant Travel in a research report on Tuesday, August 5th. UBS Group cut their target price 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. Evercore ISI upgraded Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 target price for the company in a research report on Tuesday, July 1st. Bank of America cut their target price on Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating for the company in a research report on Tuesday, July 8th. Finally, Morgan Stanley cut their target price on Allegiant Travel from $85.00 to $83.00 and set an "equal weight" rating for the company in a research report on Monday, July 7th. 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 one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $64.33.

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.

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