Allegiant Travel (NASDAQ:ALGT) Shares Bought by Millennium Management LLC

Millennium Management LLC boosted its position in Allegiant Travel (NASDAQ:ALGT - Free Report) by 779.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,459 shares of the transportation company's stock after purchasing an additional 150,197 shares during the period. Millennium Management LLC owned about 0.93% of Allegiant Travel worth $8,512,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALGT. Donald Smith & CO. Inc. lifted its holdings in shares of Allegiant Travel by 166.7% in the second quarter. Donald Smith & CO. Inc. now owns 826,326 shares of the transportation company's stock valued at $41,506,000 after purchasing an additional 516,545 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Allegiant Travel in the 2nd quarter valued at approximately $4,263,000. Interval Partners LP acquired a new stake in Allegiant Travel during the 1st quarter valued at $5,641,000. Squarepoint Ops LLC acquired a new stake in Allegiant Travel during the 2nd quarter valued at $3,122,000. Finally, American Century Companies Inc. increased its position in Allegiant Travel by 15.1% during the second quarter. American Century Companies Inc. now owns 428,787 shares of the transportation company's stock worth $21,538,000 after buying an additional 56,208 shares in the last quarter. 85.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Allegiant Travel news, Director Gary Ellmer sold 1,000 shares of Allegiant Travel stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $45.00, for a total transaction of $45,000.00. Following the transaction, the director now directly owns 7,490 shares of the company's stock, valued at $337,050. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 1,699 shares of company stock valued at $77,350. 17.50% of the stock is currently owned by corporate insiders.

Allegiant Travel Trading Down 1.5 %

Shares of ALGT traded down $0.85 during mid-day trading on Wednesday, reaching $55.07. The company had a trading volume of 428,724 shares, compared to its average volume of 360,785. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 6.10 and a beta of 1.65. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.30. The firm has a fifty day simple moving average of $44.51 and a 200-day simple moving average of $51.52. Allegiant Travel has a fifty-two week low of $36.08 and a fifty-two week high of $85.91.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last issued its earnings results on Wednesday, July 31st. The transportation company reported $1.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.84 by $0.93. The firm had revenue of $666.28 million for the quarter, compared to analysts' expectations of $657.74 million. Allegiant Travel had a positive return on equity of 3.48% and a negative net margin of 0.57%. The firm's revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $4.35 earnings per share. On average, sell-side analysts anticipate that Allegiant Travel will post 0.97 EPS for the current fiscal year.

Analysts Set New Price Targets

ALGT has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft cut Allegiant Travel from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $75.00 to $53.00 in a research report on Monday, July 8th. Evercore ISI upped their price objective on shares of Allegiant Travel from $60.00 to $65.00 and gave the company an "in-line" rating in a research note on Thursday, October 3rd. Morgan Stanley decreased their target price on shares of Allegiant Travel from $95.00 to $87.00 and set an "equal weight" rating on the stock in a research report on Monday, July 8th. Susquehanna boosted their price target on Allegiant Travel from $40.00 to $55.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, TD Cowen raised their price objective on Allegiant Travel from $33.00 to $42.00 and gave the stock a "hold" rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $63.13.

Allegiant Travel Company Profile

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.