Woodline Partners LP Takes $5.37 Million Position in Allegiant Travel (NASDAQ:ALGT)

Woodline Partners LP purchased a new position in shares of Allegiant Travel (NASDAQ:ALGT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Crews Bank & Trust bought a new stake in Allegiant Travel during the fourth quarter worth approximately $25,000. Jones Financial Companies Lllp increased its position in shares of Allegiant Travel by 94.5% during the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company's stock valued at $43,000 after purchasing an additional 223 shares during the period. Sterling Capital Management LLC raised its stake in shares of Allegiant Travel by 803.6% in the 4th quarter. Sterling Capital Management LLC now owns 497 shares of the transportation company's stock worth $47,000 after buying an additional 442 shares in the last quarter. Signaturefd LLC raised its stake in shares of Allegiant Travel by 30.3% in the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company's stock worth $56,000 after buying an additional 138 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Allegiant Travel in the fourth quarter valued at $75,000. 85.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALGT has been the topic of a number of research reports. UBS Group boosted their target price on shares of Allegiant Travel from $45.00 to $60.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Barclays dropped their price target on Allegiant Travel from $60.00 to $52.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. 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. Raymond James restated a "strong-buy" rating and issued a $80.00 target price (down from $90.00) on shares of Allegiant Travel in a report on Wednesday, May 7th. Finally, Bank of America reduced their target price on Allegiant Travel from $95.00 to $50.00 and set an "underperform" rating for the company in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Allegiant Travel has a consensus rating of "Hold" and a consensus target price of $63.70.

Allegiant Travel Stock Up 1.1%

Shares of Allegiant Travel stock traded up $0.62 during midday trading on Wednesday, hitting $56.51. The company's stock had a trading volume of 411,976 shares, compared to its average volume of 430,801. Allegiant Travel has a 1-year low of $36.09 and a 1-year high of $107.57. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $1.03 billion, a P/E ratio of -4.23 and a beta of 1.78. The stock has a 50-day simple moving average of $50.20 and a 200-day simple moving average of $71.99.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The transportation company reported $1.81 earnings per share (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 the consensus estimate of $700.00 million. During the same period in the prior year, the business earned $0.57 EPS. The business's revenue for the quarter was up 6.5% on a year-over-year basis. As a group, sell-side analysts expect that Allegiant Travel will post 7.7 earnings per share for the current 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.