Allegiant Travel (NASDAQ:ALGT) Position Raised by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC boosted its holdings in Allegiant Travel (NASDAQ:ALGT) by 10.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,560 shares of the transportation company’s stock after buying an additional 535 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Allegiant Travel were worth $279,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. acquired a new position in Allegiant Travel in the second quarter worth approximately $285,000. 180 Wealth Advisors LLC grew its position in Allegiant Travel by 24.1% in the second quarter. 180 Wealth Advisors LLC now owns 9,049 shares of the transportation company’s stock worth $444,000 after buying an additional 1,758 shares during the last quarter. CWM LLC grew its position in Allegiant Travel by 275.1% in the second quarter. CWM LLC now owns 1,268 shares of the transportation company’s stock worth $64,000 after buying an additional 930 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in Allegiant Travel by 7.9% in the second quarter. Harbor Capital Advisors Inc. now owns 7,591 shares of the transportation company’s stock worth $381,000 after buying an additional 553 shares during the last quarter. Finally, Interval Partners LP acquired a new position in Allegiant Travel in the first quarter worth approximately $5,641,000. Institutional investors and hedge funds own 85.81% of the company’s stock.

Allegiant Travel Stock Performance

Allegiant Travel stock traded up $0.41 on Tuesday, reaching $40.32. 144,404 shares of the stock were exchanged, compared to its average volume of 354,175. The firm has a fifty day moving average price of $48.04 and a two-hundred day moving average price of $58.90. The stock has a market cap of $735.11 million, a PE ratio of 12.63, a PEG ratio of 2.06 and a beta of 1.66. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.35. Allegiant Travel has a twelve month low of $36.08 and a twelve month high of $95.55.

Allegiant Travel (NASDAQ:ALGT) last announced its quarterly earnings data on Wednesday, July 31st. The transportation company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.93. The business had revenue of $666.28 million during the quarter, compared to analyst estimates of $657.74 million. Allegiant Travel had a negative net margin of 0.57% and a positive return on equity of 3.48%. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.35 earnings per share. Sell-side analysts anticipate that Allegiant Travel will post 3.08 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ALGT shares. Susquehanna lowered their price objective on shares of Allegiant Travel from $55.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday. Barclays lowered their price objective on shares of Allegiant Travel from $55.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Morgan Stanley lowered their price target on shares of Allegiant Travel from $95.00 to $87.00 and set an “equal weight” rating on the stock in a report on Monday, July 8th. TD Cowen lowered their price target on shares of Allegiant Travel from $39.00 to $33.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Allegiant Travel from a “buy” rating to a “hold” rating and reduced their price objective for the company from $75.00 to $53.00 in a research note on Monday, July 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $59.50.

Insider Activity at Allegiant Travel

In related news, EVP Robert Paul Wilson III sold 750 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $53.00, for a total value of $39,750.00. Following the sale, the executive vice president now owns 74,948 shares of the company’s stock, valued at $3,972,244. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Allegiant Travel news, COO Keny Frank Wilper sold 1,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $51.00, for a total transaction of $51,000.00. Following the sale, the chief operating officer now directly owns 9,422 shares of the company’s stock, valued at $480,522. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert Paul Wilson III sold 750 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $53.00, for a total transaction of $39,750.00. Following the sale, the executive vice president now directly owns 74,948 shares in the company, valued at $3,972,244. The disclosure for this sale can be found here. Insiders have sold a total of 2,153 shares of company stock valued at $106,536 over the last quarter. 17.50% of the stock is owned by company insiders.

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.