GAMMA Investing LLC Purchases Shares of 363 Allegiant Travel (NASDAQ:ALGT)

GAMMA Investing LLC purchased a new stake in Allegiant Travel (NASDAQ:ALGT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 363 shares of the transportation company’s stock, valued at approximately $28,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Allegiant Travel in the 4th quarter valued at $7,187,000. Tradewinds Capital Management LLC acquired a new position in shares of Allegiant Travel during the 4th quarter worth about $83,000. Everence Capital Management Inc. acquired a new position in shares of Allegiant Travel during the 4th quarter worth about $208,000. Louisiana State Employees Retirement System acquired a new position in shares of Allegiant Travel during the 4th quarter worth about $620,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Allegiant Travel during the 4th quarter worth about $141,350,000. 85.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ALGT shares. Susquehanna lowered their price objective on shares of Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 9th. Barclays reduced their target price on shares of Allegiant Travel from $65.00 to $60.00 and set an “equal weight” rating for the company in a report on Friday, April 5th. TD Cowen lifted their target price on shares of Allegiant Travel from $82.00 to $85.00 and gave the stock a “market perform” rating in a report on Tuesday, February 6th. UBS Group assumed coverage on shares of Allegiant Travel in a report on Wednesday, March 20th. They set a “sell” rating and a $58.00 target price for the company. Finally, Raymond James reduced their target price on shares of Allegiant Travel from $110.00 to $100.00 and set an “outperform” rating for the company in a report on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $89.75.

Allegiant Travel Stock Performance

NASDAQ ALGT opened at $56.26 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $1.03 billion, a P/E ratio of 8.90, a P/E/G ratio of 1.16 and a beta of 1.63. Allegiant Travel has a 12-month low of $52.38 and a 12-month high of $130.93. The firm has a 50-day moving average price of $66.73 and a two-hundred day moving average price of $71.83.

Allegiant Travel (NASDAQ:ALGT) last posted its quarterly earnings data on Monday, February 5th. The transportation company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.52. The firm had revenue of $611.00 million during the quarter, compared to the consensus estimate of $596.42 million. Allegiant Travel had a net margin of 4.54% and a return on equity of 3.80%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.17 EPS. Analysts anticipate that Allegiant Travel will post 4.61 earnings per share for the current year.

Insider Activity

In other news, Director Gary Ellmer sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $79.10, for a total value of $158,200.00. Following the completion of the transaction, the director now directly owns 8,490 shares in the company, valued at approximately $671,559. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 17.50% of the company’s stock.

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.