57,079 Shares in Allegiant Travel (NASDAQ:ALGT) Purchased by Woodline Partners LP

Woodline Partners LP bought a new position in Allegiant Travel (NASDAQ:ALGT) during the fourth quarter, Holdings Channel reports. The institutional investor bought 57,079 shares of the transportation company’s stock, valued at approximately $5,372,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Crews Bank & Trust acquired a new stake in shares of Allegiant Travel during the 4th quarter worth approximately $25,000. Jones Financial Companies Lllp boosted its position in 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 grew its stake in Allegiant Travel by 803.6% during 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 during the last quarter. Signaturefd LLC increased its position in Allegiant Travel by 30.3% in the fourth quarter. Signaturefd LLC now owns 594 shares of the transportation company’s stock worth $56,000 after buying an additional 138 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in Allegiant Travel in the fourth quarter worth $75,000. 85.81% of the stock is currently owned by institutional investors and hedge funds.

Allegiant Travel Price Performance

NASDAQ ALGT opened at $52.34 on Friday. Allegiant Travel has a 12 month low of $36.09 and a 12 month high of $107.57. The firm has a market capitalization of $955.47 million, a PE ratio of -3.91 and a beta of 1.78. The company’s 50 day simple moving average is $50.21 and its 200 day simple moving average is $72.26. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72.

Allegiant Travel (NASDAQ:ALGT) last issued its quarterly earnings results on Tuesday, May 6th. The transportation company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.27. The company had revenue of $699.07 million for the quarter, compared to analysts’ expectations of $700.00 million. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the firm earned $0.57 EPS. As a group, equities research analysts forecast that Allegiant Travel will post 7.7 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on ALGT shares. Morgan Stanley lowered their price target on shares of Allegiant Travel from $93.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday, May 19th. Barclays decreased 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 report on Thursday, May 8th. TD Cowen lifted their price target on Allegiant Travel from $35.00 to $50.00 and gave the company a “hold” rating in a report on Monday, May 12th. Bank of America reduced their price objective on Allegiant Travel from $95.00 to $50.00 and set an “underperform” rating for the company in a research report on Thursday, April 3rd. Finally, Raymond James reissued a “strong-buy” rating and issued a $80.00 price objective (down from $90.00) on shares of Allegiant Travel in a report on Wednesday, May 7th. One investment 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 presently has an average rating of “Hold” and a consensus price target of $63.70.

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.