Squarepoint Ops LLC Lowers Stock Holdings in Allegiant Travel Company $ALGT

Squarepoint Ops LLC cut its stake in shares of Allegiant Travel Company (NASDAQ:ALGT) by 12.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 77,865 shares of the transportation company’s stock after selling 11,195 shares during the period. Squarepoint Ops LLC owned approximately 0.42% of Allegiant Travel worth $4,279,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ALGT. Donald Smith & CO. Inc. increased its holdings in shares of Allegiant Travel by 11.6% in the second quarter. Donald Smith & CO. Inc. now owns 1,506,633 shares of the transportation company’s stock valued at $82,789,000 after purchasing an additional 156,186 shares during the period. T. Rowe Price Investment Management Inc. grew its position in Allegiant Travel by 5.8% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 982,962 shares of the transportation company’s stock valued at $50,770,000 after buying an additional 54,321 shares during the last quarter. American Century Companies Inc. increased its stake in Allegiant Travel by 2.8% in the 2nd quarter. American Century Companies Inc. now owns 651,117 shares of the transportation company’s stock valued at $35,779,000 after buying an additional 17,509 shares during the period. Par Capital Management Inc. raised its position in Allegiant Travel by 11.1% during the 2nd quarter. Par Capital Management Inc. now owns 584,996 shares of the transportation company’s stock worth $32,146,000 after buying an additional 58,566 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Allegiant Travel by 1.0% in the 2nd quarter. Franklin Resources Inc. now owns 475,927 shares of the transportation company’s stock worth $26,152,000 after acquiring an additional 4,595 shares during the period. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Allegiant Travel Stock Performance

NASDAQ ALGT opened at $87.76 on Tuesday. The business has a 50 day moving average price of $69.33 and a 200 day moving average price of $61.28. The company has a market capitalization of $1.61 billion, a P/E ratio of -5.38, a PEG ratio of 0.58 and a beta of 1.67. Allegiant Travel Company has a 1-year low of $39.80 and a 1-year high of $107.57. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.98 and a quick ratio of 0.95.

Allegiant Travel (NASDAQ:ALGT) last posted its earnings results on Thursday, May 12th. The transportation company reported $1.18 earnings per share for the quarter. The company had revenue of $496.88 million for the quarter. Allegiant Travel had a positive return on equity of 5.24% and a negative net margin of 11.36%. Sell-side analysts expect that Allegiant Travel Company will post 7.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ALGT. Citigroup began coverage on shares of Allegiant Travel in a research note on Thursday, December 4th. They set a “neutral” rating and a $88.00 price target on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Allegiant Travel in a research report on Wednesday, October 8th. Evercore ISI increased their target price on Allegiant Travel from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, September 29th. Bank of America lifted their price target on Allegiant Travel from $50.00 to $55.00 and gave the company an “underperform” rating in a research note on Wednesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft upgraded Allegiant Travel from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $77.91.

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.