Caxton Associates LLP Makes New Investment in Allegiant Travel Company $ALGT

Key Points

• Caxton Associates LLP purchased a new stake of 23,590 shares in Allegiant Travel Company, valued at approximately $1,218,000, during the first quarter.
• Institutional investors hold around 85.81% of Allegiant Travel's stock, with other firms such as Farther Finance Advisors and Caitong International significantly increasing their stakes.
• Allegiant Travel recently reported earnings of $1.23 per share, surpassing analysts' expectations, and has set a full-year guidance of 2.250 EPS.

Caxton Associates LLP bought a new stake in Allegiant Travel Company (NASDAQ:ALGT - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 23,590 shares of the transportation company's stock, valued at approximately $1,218,000. Caxton Associates LLP owned 0.13% of Allegiant Travel at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Allegiant Travel by 3.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,808 shares of the transportation company's stock valued at $829,000 after acquiring an additional 292 shares during the period. Picton Mahoney Asset Management increased its holdings in shares of Allegiant Travel by 6.6% in the 1st quarter. Picton Mahoney Asset Management now owns 5,550 shares of the transportation company's stock valued at $286,000 after acquiring an additional 344 shares during the period. Farther Finance Advisors LLC increased its holdings 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 valued at $28,000 after acquiring an additional 450 shares during the period. New York State Common Retirement Fund increased its holdings in shares of Allegiant Travel by 8.5% in the 1st quarter. New York State Common Retirement Fund now owns 6,003 shares of the transportation company's stock valued at $310,000 after acquiring an additional 470 shares during the period. Finally, US Bancorp DE increased its holdings in shares of Allegiant Travel by 15.9% in the 1st quarter. US Bancorp DE now owns 5,825 shares of the transportation company's stock valued at $301,000 after acquiring an additional 800 shares during the period. 85.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ALGT. Morgan Stanley cut 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 report on Monday, July 7th. Evercore ISI raised shares of Allegiant Travel from an "in-line" rating to an "outperform" rating and set a $75.00 price objective on the stock in a research note on Tuesday, July 1st. Zacks Research raised shares of Allegiant Travel from a "strong sell" rating to a "hold" rating in a research note on Thursday, September 4th. UBS Group dropped their price objective on shares of Allegiant Travel from $59.00 to $52.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Finally, Bank of America dropped their price objective on shares of Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating on the stock in a research note on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Allegiant Travel presently has an average rating of "Hold" and a consensus price target of $64.33.

Allegiant Travel Price Performance

Shares of NASDAQ ALGT traded down $2.36 during trading on Monday, hitting $62.39. 126,939 shares of the company were exchanged, compared to its average volume of 438,897. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -3.93, a PEG 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. The firm's fifty day moving average price is $56.34 and its 200 day moving average price is $54.26. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.10 and a quick ratio of 1.07.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued its earnings results on Monday, August 4th. The transportation company reported $1.23 EPS for the quarter, topping the consensus estimate of $0.83 by $0.40. The company had revenue of $689.40 million for the quarter, compared to analyst estimates of $685.58 million. Allegiant Travel had a negative net margin of 11.10% and a positive return on equity of 5.00%. The business's revenue was up 3.5% on a year-over-year basis. During the same period in the previous 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, sell-side analysts expect that Allegiant Travel Company will post 7.7 earnings per share for the current fiscal 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.