Woodline Partners LP Purchases New Shares in Allegiant Travel (NASDAQ:ALGT)

Woodline Partners LP purchased a new stake in Allegiant Travel (NASDAQ:ALGT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 57,079 shares of the transportation company's stock, valued at approximately $5,372,000. Woodline Partners LP owned approximately 0.31% of Allegiant Travel as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Nisa Investment Advisors LLC increased its position in shares of Allegiant Travel by 1,614.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 9,017 shares of the transportation company's stock valued at $849,000 after purchasing an additional 8,491 shares during the last quarter. Crews Bank & Trust bought a new position in shares of Allegiant Travel during the 4th quarter valued at about $25,000. Empowered Funds LLC increased its position in shares of Allegiant Travel by 5.0% during the 4th quarter. Empowered Funds LLC now owns 84,748 shares of the transportation company's stock valued at $7,976,000 after purchasing an additional 4,053 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Allegiant Travel by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 70,588 shares of the transportation company's stock valued at $6,644,000 after purchasing an additional 2,133 shares during the last quarter. Finally, Mutual of America Capital Management LLC bought a new position in shares of Allegiant Travel during the 4th quarter valued at about $207,000. Hedge funds and other institutional investors own 85.81% of the company's stock.

Allegiant Travel Trading Up 6.8%

NASDAQ ALGT traded up $3.55 on Tuesday, hitting $55.89. The company's stock had a trading volume of 351,354 shares, compared to its average volume of 430,877. Allegiant Travel has a 52-week low of $36.09 and a 52-week high of $107.57. 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 company's 50-day simple moving average is $50.14 and its 200 day simple moving average is $72.11. The firm has a market cap of $1.02 billion, a P/E ratio of -4.18 and a beta of 1.78.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last released its quarterly earnings data 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 positive return on equity of 3.33% and a negative net margin of 9.56%. The business had revenue of $699.07 million during the quarter, compared to analysts' expectations of $700.00 million. During the same quarter last year, the business posted $0.57 EPS. The business's revenue was up 6.5% on a year-over-year basis. Research analysts predict that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ALGT has been the topic of several recent research reports. Morgan Stanley reduced their price objective on Allegiant Travel from $93.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Monday, May 19th. Bank of America reduced their price target on Allegiant Travel from $95.00 to $50.00 and set an "underperform" rating on the stock in a research report on Thursday, April 3rd. TD Cowen raised their price target 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 raised their price target on Allegiant Travel from $45.00 to $60.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Finally, Barclays reduced their price target on Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $63.70.

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.