Millennium Management LLC Sells 60,286 Shares of Allegiant Travel (NASDAQ:ALGT)

Millennium Management LLC trimmed its holdings in shares of Allegiant Travel (NASDAQ:ALGT) by 93.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,347 shares of the transportation company’s stock after selling 60,286 shares during the period. Millennium Management LLC’s holdings in Allegiant Travel were worth $409,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. acquired a new position in Allegiant Travel during the fourth quarter valued at approximately $26,067,000. Emerald Advisers LLC acquired a new position in shares of Allegiant Travel in the fourth quarter valued at $22,256,000. Mesirow Institutional Investment Management Inc. acquired a new stake in shares of Allegiant Travel during the 4th quarter worth approximately $13,830,000. T. Rowe Price Investment Management Inc. grew its stake in shares of Allegiant Travel by 16.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 928,641 shares of the transportation company’s stock worth $87,404,000 after buying an additional 131,561 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in shares of Allegiant Travel during the fourth quarter worth $11,862,000. 85.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ALGT shares. Raymond James restated a “strong-buy” rating and issued a $80.00 target price (down previously from $90.00) on shares of Allegiant Travel in a report on Wednesday, May 7th. UBS Group increased their target price on shares of Allegiant Travel from $45.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Susquehanna lowered their target price on shares of Allegiant Travel from $95.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Barclays reduced their target price on shares of Allegiant Travel from $60.00 to $52.00 and set an “equal weight” rating on the stock in a report on Thursday, May 8th. Finally, TD Cowen raised their price target on shares of Allegiant Travel from $35.00 to $50.00 and gave the stock a “hold” rating in a report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $63.70.

Allegiant Travel Stock Down 1.9%

ALGT stock opened at $57.17 on Tuesday. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -4.28 and a beta of 1.74. Allegiant Travel has a fifty-two week low of $36.09 and a fifty-two week high of $107.57. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.72 and a current ratio of 0.75. The company’s 50 day moving average price is $50.58 and its 200 day moving average price is $70.80.

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

About Allegiant Travel

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.