Millennium Management LLC Sells 60,286 Shares of Allegiant Travel (NASDAQ:ALGT)

Millennium Management LLC lessened its stake in Allegiant Travel (NASDAQ:ALGT - Free Report) by 93.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Donald Smith & CO. Inc. grew its stake in Allegiant Travel by 2.5% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,018,449 shares of the transportation company's stock worth $95,856,000 after purchasing an additional 24,975 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in shares of Allegiant Travel by 16.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 928,641 shares of the transportation company's stock valued at $87,404,000 after acquiring an additional 131,561 shares during the period. Dimensional Fund Advisors LP boosted its stake in Allegiant Travel by 8.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 748,216 shares of the transportation company's stock worth $70,421,000 after acquiring an additional 57,737 shares in the last quarter. American Century Companies Inc. increased its stake in Allegiant Travel by 14.8% in the fourth quarter. American Century Companies Inc. now owns 564,326 shares of the transportation company's stock valued at $53,114,000 after purchasing an additional 72,759 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Allegiant Travel by 18.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 304,642 shares of the transportation company's stock valued at $28,673,000 after buying an additional 47,186 shares during the period. Institutional investors and hedge funds own 85.81% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ALGT shares. Susquehanna lowered their price objective on shares of Allegiant Travel from $95.00 to $50.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. TD Cowen lifted their price target on Allegiant Travel from $35.00 to $50.00 and gave the company a "hold" rating in a research note on Monday, May 12th. Morgan Stanley dropped their target price on Allegiant Travel from $93.00 to $85.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. Barclays reduced their target price on shares of Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. Finally, Raymond James reissued a "strong-buy" rating and set a $80.00 price target (down from $90.00) on shares of Allegiant Travel in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Allegiant Travel currently has an average rating of "Hold" and a consensus target price of $63.70.

Allegiant Travel Price Performance

Allegiant Travel stock traded down $0.90 during midday trading on Thursday, reaching $53.69. 63,998 shares of the stock were exchanged, compared to its average volume of 441,790. Allegiant Travel has a 52 week low of $36.08 and a 52 week high of $107.57. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The firm has a market cap of $980.11 million, a PE ratio of -4.02 and a beta of 1.74. The company's fifty day moving average is $50.93 and its 200-day moving average is $70.60.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The transportation company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.27. Allegiant Travel had a negative net margin of 9.56% and a positive return on equity of 3.33%. The firm had revenue of $699.07 million for the quarter, compared to analysts' expectations of $700.00 million. During the same quarter in the prior year, the firm posted $0.57 earnings per share. The business's quarterly revenue was up 6.5% on a year-over-year basis. On average, sell-side analysts forecast that Allegiant Travel will post 7.7 EPS for the current year.

Allegiant Travel 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.