EntryPoint Capital LLC Buys New Position in Allegiant Travel (NASDAQ:ALGT)

EntryPoint Capital LLC acquired a new stake in Allegiant Travel (NASDAQ:ALGT - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,454 shares of the transportation company's stock, valued at approximately $702,000. Allegiant Travel comprises about 0.3% of EntryPoint Capital LLC's portfolio, making the stock its 27th largest position.

Several other hedge funds also recently added to or reduced their stakes in the business. Crews Bank & Trust purchased a new stake in Allegiant Travel in the fourth quarter valued at $25,000. Jones Financial Companies Lllp increased its position in shares of Allegiant Travel by 94.5% during the 4th quarter. Jones Financial Companies Lllp now owns 459 shares of the transportation company's stock worth $43,000 after purchasing an additional 223 shares during the last quarter. Signaturefd LLC raised its holdings in Allegiant Travel by 30.3% in the 4th quarter. Signaturefd LLC now owns 594 shares of the transportation company's stock valued at $56,000 after buying an additional 138 shares during the period. GAMMA Investing LLC lifted its position in Allegiant Travel by 53.5% in the fourth quarter. GAMMA Investing LLC now owns 677 shares of the transportation company's stock valued at $64,000 after buying an additional 236 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Allegiant Travel during the fourth quarter worth about $75,000. 85.81% of the stock is currently owned by hedge funds and other institutional investors.

Allegiant Travel Stock Down 3.1 %

Allegiant Travel stock traded down $1.68 during trading on Friday, reaching $53.22. The stock had a trading volume of 266,505 shares, compared to its average volume of 409,088. The business has a 50 day moving average price of $77.33 and a 200 day moving average price of $74.30. The stock has a market cap of $975.95 million, a PE ratio of -3.98 and a beta of 1.64. Allegiant Travel has a 52-week low of $36.09 and a 52-week high of $107.57. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.36.

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Allegiant Travel (NASDAQ:ALGT - Get Free Report) last posted its earnings results on Tuesday, February 4th. The transportation company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $0.48 by $1.62. Allegiant Travel had a positive return on equity of 3.33% and a negative net margin of 9.56%. On average, analysts predict that Allegiant Travel will post 7.7 EPS for the current year.

Wall Street Analysts Forecast Growth

ALGT has been the topic of a number of research analyst reports. Barclays boosted their price target on shares of Allegiant Travel from $85.00 to $100.00 and gave the company an "equal weight" rating in a research note on Thursday, January 16th. TD Cowen raised their price target on Allegiant Travel from $50.00 to $70.00 and gave the stock a "hold" rating in a research report on Tuesday, December 17th. Raymond James boosted their price objective on Allegiant Travel from $75.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, December 30th. Morgan Stanley lifted their target price on Allegiant Travel from $90.00 to $95.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Finally, Susquehanna raised their price objective on shares of Allegiant Travel from $60.00 to $105.00 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $84.60.

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.