AlphaQuest LLC Sells 4,754 Shares of Allegiant Travel Company $ALGT

AlphaQuest LLC decreased its holdings in shares of Allegiant Travel Company (NASDAQ:ALGT) by 90.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 511 shares of the transportation company’s stock after selling 4,754 shares during the quarter. AlphaQuest LLC’s holdings in Allegiant Travel were worth $28,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. New York State Common Retirement Fund lifted its stake in shares of Allegiant Travel by 8.5% in the 1st quarter. New York State Common Retirement Fund now owns 6,003 shares of the transportation company’s stock valued at $310,000 after purchasing an additional 470 shares during the period. Bayforest Capital Ltd lifted its stake in Allegiant Travel by 38.7% in the second quarter. Bayforest Capital Ltd now owns 15,714 shares of the transportation company’s stock valued at $863,000 after buying an additional 4,381 shares during the period. U S Global Investors Inc. lifted its stake in Allegiant Travel by 4.3% in the second quarter. U S Global Investors Inc. now owns 430,153 shares of the transportation company’s stock valued at $23,637,000 after buying an additional 17,753 shares during the period. GAMMA Investing LLC boosted its holdings in Allegiant Travel by 58.1% during the second quarter. GAMMA Investing LLC now owns 1,108 shares of the transportation company’s stock worth $61,000 after buying an additional 407 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Allegiant Travel by 694.8% during the 1st quarter. Russell Investments Group Ltd. now owns 15,133 shares of the transportation company’s stock worth $782,000 after buying an additional 13,229 shares during the period. 85.81% of the stock is currently owned by institutional investors and hedge funds.

Allegiant Travel Trading Up 2.9%

ALGT opened at $70.89 on Friday. The stock has a market capitalization of $1.30 billion, a P/E ratio of -4.45, a P/E/G ratio of 0.49 and a beta of 1.77. The company has a current ratio of 1.10, a quick ratio of 1.07 and a debt-to-equity ratio of 1.68. Allegiant Travel Company has a 12 month low of $39.80 and a 12 month high of $107.57. The firm’s fifty day simple moving average is $63.31 and its 200 day simple moving average is $57.16.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Thursday, May 12th. The transportation company reported $1.18 earnings per share (EPS) for the quarter. The firm had revenue of $496.88 million for the quarter. Allegiant Travel had a positive return on equity of 5.00% and a negative net margin of 11.10%. As a group, research analysts anticipate that Allegiant Travel Company will post 7.7 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on ALGT. Barclays lifted their price objective on shares of Allegiant Travel from $52.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 1st. Evercore ISI lifted their price target on shares of Allegiant Travel from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, September 29th. Weiss Ratings reissued a “sell (d)” rating on shares of Allegiant Travel in a report on Wednesday, October 8th. Zacks Research raised Allegiant Travel from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 4th. Finally, Susquehanna lifted their target price on Allegiant Travel from $50.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Allegiant Travel has an average rating of “Hold” and a consensus price target of $70.89.

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.