Graham Capital Management L.P. Has $1.83 Million Stock Position in Allegiant Travel Company $ALGT

Key Points

• Graham Capital Management L.P. significantly increased its holdings in Allegiant Travel Company by 184.0% in the first quarter, owning 35,469 shares valued at approximately $1.83 million.
• Allegiant Travel recently reported an EPS of $1.23 for the quarter, exceeding analyst estimates of $0.83, with revenue increasing by 3.5% compared to the previous year.
• Analysts have mixed ratings for Allegiant Travel, with an average price target of $64.33, reflecting sentiments ranging from "Strong Buy" to "Sell."

Graham Capital Management L.P. increased its position in Allegiant Travel Company (NASDAQ:ALGT - Free Report) by 184.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,469 shares of the transportation company's stock after buying an additional 22,978 shares during the period. Graham Capital Management L.P. owned 0.19% of Allegiant Travel worth $1,832,000 at the end of the most recent reporting period.

A number of other hedge funds 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 acquired a new stake in Allegiant Travel in the 1st quarter valued at approximately $213,000. Finally, FORA Capital LLC acquired a new stake in Allegiant Travel in the 1st quarter valued at approximately $259,000. Institutional investors and hedge funds own 85.81% of the company's stock.

Allegiant Travel Price Performance

Shares of ALGT stock traded up $0.26 during trading hours on Friday, hitting $64.53. 432,950 shares of the company's stock were exchanged, compared to its average volume of 397,694. The stock's 50-day moving average is $55.88 and its 200-day moving average is $54.79. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.10 and a quick ratio of 1.07. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -4.05, a price-to-earnings-growth ratio of 0.58 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.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued its quarterly 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 business had revenue of $689.40 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 earnings per share. Allegiant Travel has set its FY 2015 guidance at 2.250- EPS. Q3 2025 guidance at -2.750--1.750 EPS. As a group, 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. TD Cowen raised their price objective on Allegiant Travel from $35.00 to $50.00 and gave the stock a "hold" rating in a research report on Monday, May 12th. UBS Group dropped their target price on Allegiant Travel from $59.00 to $52.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Bank of America dropped their target price on Allegiant Travel from $50.00 to $45.00 and set an "underperform" rating for the company in a report on Tuesday, July 8th. Susquehanna reiterated a "neutral" rating and set a $50.00 price objective (up from $45.00) on shares of Allegiant Travel in a research note on Tuesday, August 5th. Finally, Morgan Stanley dropped their price objective 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 research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target 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.