Hudson Bay Capital Management LP Purchases Shares of 18,252 Allegiant Travel Company $ALGT

Hudson Bay Capital Management LP purchased a new stake in shares of Allegiant Travel Company (NASDAQ:ALGT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 18,252 shares of the transportation company’s stock, valued at approximately $1,109,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Heartland Advisors Inc. bought a new position in Allegiant Travel in the third quarter worth about $12,747,000. Donald Smith & CO. Inc. increased its position in shares of Allegiant Travel by 11.6% during 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 acquiring an additional 156,186 shares in the last quarter. Apollo Management Holdings L.P. purchased a new position in shares of Allegiant Travel in the second quarter worth $6,124,000. Jump Financial LLC lifted its stake in Allegiant Travel by 195.5% during the 2nd quarter. Jump Financial LLC now owns 127,800 shares of the transportation company’s stock valued at $7,023,000 after acquiring an additional 84,555 shares during the period. Finally, Emerald Advisers LLC lifted its position in Allegiant Travel by 23.7% during the third quarter. Emerald Advisers LLC now owns 427,718 shares of the transportation company’s stock valued at $25,992,000 after purchasing an additional 81,987 shares during the period. Institutional investors own 85.81% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Maurice J. Gallagher, Jr. sold 861 shares of Allegiant Travel stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $114.00, for a total value of $98,154.00. Following the sale, the chairman owned 150,000 shares of the company’s stock, valued at approximately $17,100,000. This trade represents a 0.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 300,000 shares of company stock valued at $34,350,512 over the last quarter. 14.70% of the stock is currently owned by company insiders.

Allegiant Travel Stock Down 2.8%

ALGT stock opened at $77.05 on Monday. The firm’s fifty day simple moving average is $93.73 and its 200-day simple moving average is $79.19. The company has a market capitalization of $1.42 billion, a P/E ratio of -29.98, a price-to-earnings-growth ratio of 0.18 and a beta of 1.55. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.95 and a quick ratio of 0.92. Allegiant Travel Company has a 12 month low of $39.80 and a 12 month high of $118.00.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Susquehanna reaffirmed a “positive” rating and set a $110.00 target price on shares of Allegiant Travel in a report on Friday, February 6th. Evercore lifted their price objective on shares of Allegiant Travel from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft upgraded Allegiant Travel from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a research report on Friday, December 12th. UBS Group dropped their price target on Allegiant Travel from $102.00 to $90.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. Finally, Citigroup dropped their price objective on shares of Allegiant Travel from $114.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $97.64.

Allegiant Travel Profile

Allegiant Travel Company is a holding company that operates Allegiant Air, a low‐cost leisure airline offering scheduled and charter air service. The company focuses on connecting underserved secondary markets with popular vacation destinations across the United States. By targeting price‐sensitive leisure travelers, Allegiant Air operates a point‐to‐point network that avoids the traditional hub‐and‐spoke model, providing non‐stop flights from smaller cities to resort and entertainment hubs.

In addition to its core flight operations, Allegiant Travel Company offers packaged travel services that include hotel accommodations, rental cars and attraction tickets through its online portal.