Allegiant Travel (NASDAQ:ALGT) Shares Sold by Millennium Management LLC

Millennium Management LLC reduced its holdings in shares of Allegiant Travel (NASDAQ:ALGT - Free Report) by 93.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,347 shares of the transportation company's stock after selling 60,286 shares during the period. Millennium Management LLC's holdings in Allegiant Travel were worth $409,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Allegiant Travel by 3.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,808 shares of the transportation company's stock worth $829,000 after purchasing an additional 292 shares in the last quarter. J. Goldman & Co LP grew its stake in Allegiant Travel by 115.7% in the fourth quarter. J. Goldman & Co LP now owns 127,487 shares of the transportation company's stock valued at $11,999,000 after acquiring an additional 68,386 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in shares of Allegiant Travel during the fourth quarter valued at approximately $26,067,000. Graham Capital Management L.P. acquired a new position in shares of Allegiant Travel during the fourth quarter worth approximately $1,176,000. Finally, Deutsche Bank AG lifted its holdings in shares of Allegiant Travel by 209.6% in the 4th quarter. Deutsche Bank AG now owns 26,573 shares of the transportation company's stock worth $2,501,000 after purchasing an additional 17,991 shares in the last quarter. 85.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Susquehanna decreased their price target on Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, April 7th. UBS Group upped their price objective on shares of Allegiant Travel from $45.00 to $60.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. TD Cowen increased their price objective on shares of Allegiant Travel from $35.00 to $50.00 and gave the company a "hold" rating in a research note on Monday, May 12th. Raymond James restated a "strong-buy" rating and issued a $80.00 target price (down previously from $90.00) on shares of Allegiant Travel in a research note on Wednesday, May 7th. Finally, Morgan Stanley reduced their price objective on Allegiant Travel from $93.00 to $85.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $63.70.

Allegiant Travel Trading Down 4.9%

Shares of ALGT traded down $2.64 during trading hours on Friday, reaching $51.05. 653,539 shares of the company traded hands, compared to its average volume of 446,357. The stock's fifty day moving average price is $51.08 and its 200 day moving average price is $70.39. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The firm has a market cap of $931.92 million, a price-to-earnings ratio of -3.82 and a beta of 1.74. Allegiant Travel has a 12-month low of $36.08 and a 12-month high of $107.57.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The transportation company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.54 by $0.27. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. The firm had revenue of $699.07 million during the quarter, compared to analyst estimates of $700.00 million. During the same period in the previous year, the company posted $0.57 EPS. The business's revenue for the quarter was up 6.5% compared to the same quarter last year. Sell-side analysts forecast that Allegiant Travel 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.