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

GAMMA Investing LLC acquired a new stake in shares of Allegiant Travel (NASDAQ:ALGT) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 363 shares of the transportation company’s stock, valued at approximately $28,000.

Other institutional investors have also added to or reduced their stakes in the company. Tradewinds Capital Management LLC purchased a new position in shares of Allegiant Travel in the fourth quarter valued at $83,000. Everence Capital Management Inc. purchased a new position in shares of Allegiant Travel in the fourth quarter valued at $208,000. JB Capital LLC purchased a new position in shares of Allegiant Travel in the fourth quarter valued at $223,000. Watershed Asset Management L.L.C. purchased a new position in shares of Allegiant Travel in the third quarter valued at $257,000. Finally, Quantbot Technologies LP purchased a new position in Allegiant Travel during the third quarter worth $274,000. 85.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Allegiant Travel Stock Performance

ALGT stock opened at $56.26 on Tuesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.83 and a quick ratio of 0.80. The business has a 50-day moving average price of $66.73 and a 200 day moving average price of $71.83. The company has a market capitalization of $1.03 billion, a P/E ratio of 8.90, a PEG ratio of 1.16 and a beta of 1.63. Allegiant Travel has a 1-year low of $52.38 and a 1-year high of $130.93.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings data on Monday, February 5th. The transportation company reported $0.11 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 3.80% and a net margin of 4.54%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the company posted $3.17 earnings per share. As a group, equities research analysts forecast that Allegiant Travel will post 4.61 EPS for the current fiscal year.

Insider Activity at Allegiant Travel

In other Allegiant Travel news, Director Gary Ellmer sold 2,000 shares of the business’s stock in a transaction dated 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 $671,559. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.50% of the stock is currently owned by corporate insiders.

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.