Seaport Res Ptn Analysts Boost Earnings Estimates for ALGT

Allegiant Travel (NASDAQ:ALGT) – Investment analysts at Seaport Res Ptn upped their FY2024 earnings per share estimates for shares of Allegiant Travel in a report issued on Wednesday, December 18th. Seaport Res Ptn analyst D. Mckenzie now forecasts that the transportation company will post earnings per share of $2.42 for the year, up from their previous estimate of $1.13. The consensus estimate for Allegiant Travel’s current full-year earnings is $1.00 per share. Seaport Res Ptn also issued estimates for Allegiant Travel’s Q4 2024 earnings at $2.05 EPS, Q1 2025 earnings at $2.40 EPS, Q2 2025 earnings at $3.60 EPS, Q3 2025 earnings at ($0.30) EPS and Q4 2025 earnings at $1.80 EPS.

A number of other brokerages have also issued reports on ALGT. Barclays raised their target price on Allegiant Travel from $50.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Evercore ISI upped their target price on shares of Allegiant Travel from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, October 3rd. StockNews.com upgraded shares of Allegiant Travel from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Susquehanna boosted their price objective on Allegiant Travel from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $83.00 price target on shares of Allegiant Travel in a research report on Friday, November 15th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $68.00.

Allegiant Travel Stock Up 3.5 %

Shares of ALGT stock opened at $90.34 on Monday. Allegiant Travel has a 1-year low of $36.08 and a 1-year high of $94.45. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.72. The company has a market cap of $1.66 billion, a price-to-earnings ratio of -60.23, a price-to-earnings-growth ratio of 7.17 and a beta of 1.67. The stock’s fifty day moving average price is $75.05 and its 200 day moving average price is $57.31.

Hedge Funds Weigh In On Allegiant Travel

Several large investors have recently bought and sold shares of ALGT. International Assets Investment Management LLC acquired a new stake in shares of Allegiant Travel in the 3rd quarter worth approximately $63,540,000. Charles Schwab Investment Management Inc. raised its holdings in Allegiant Travel by 41.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 257,456 shares of the transportation company’s stock worth $14,176,000 after purchasing an additional 75,486 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in Allegiant Travel in the second quarter worth approximately $8,959,000. Hauser Brothers GmbH grew its holdings in Allegiant Travel by 73.0% during the third quarter. Hauser Brothers GmbH now owns 23,700 shares of the transportation company’s stock worth $1,305,000 after acquiring an additional 10,000 shares during the period. Finally, State Street Corp raised its position in Allegiant Travel by 1.7% in the third quarter. State Street Corp now owns 608,977 shares of the transportation company’s stock worth $33,530,000 after acquiring an additional 10,050 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

Insider Transactions at Allegiant Travel

In related news, COO Keny Frank Wilper sold 635 shares of Allegiant Travel stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total value of $39,808.15. Following the sale, the chief operating officer now directly owns 16,353 shares in the company, valued at $1,025,169.57. This trade represents a 3.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sandra Douglass Morgan sold 350 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $80.77, for a total value of $28,269.50. Following the completion of the transaction, the director now directly owns 11,650 shares of the company’s stock, valued at $940,970.50. This trade represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,600 shares of company stock valued at $2,476,465. Insiders own 15.80% of the company’s stock.

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.