AQR Capital Management LLC Invests $450,000 in Allegiant Travel (NASDAQ:ALGT)

AQR Capital Management LLC purchased a new stake in Allegiant Travel (NASDAQ:ALGT - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 8,950 shares of the transportation company's stock, valued at approximately $450,000.

Other hedge funds also recently modified their holdings of the company. Interval Partners LP acquired a new stake in shares of Allegiant Travel during the first quarter valued at about $5,641,000. Susquehanna Fundamental Investments LLC acquired a new stake in Allegiant Travel during the 1st quarter worth approximately $1,306,000. First Eagle Investment Management LLC grew its holdings in Allegiant Travel by 57.5% during the 1st quarter. First Eagle Investment Management LLC now owns 103,513 shares of the transportation company's stock worth $7,785,000 after acquiring an additional 37,800 shares during the last quarter. BNP Paribas Financial Markets increased its position in Allegiant Travel by 369.1% in the 1st quarter. BNP Paribas Financial Markets now owns 23,874 shares of the transportation company's stock valued at $1,796,000 after acquiring an additional 18,785 shares during the period. Finally, SeaCrest Wealth Management LLC raised its stake in shares of Allegiant Travel by 39.8% during the first quarter. SeaCrest Wealth Management LLC now owns 5,025 shares of the transportation company's stock valued at $378,000 after acquiring an additional 1,430 shares during the last quarter. Institutional investors and hedge funds own 85.81% of the company's stock.

Insider Transactions at Allegiant Travel

In related news, Director Gary Ellmer sold 1,000 shares of the business's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 1,699 shares of company stock valued at $77,350 in the last 90 days. 17.50% of the stock is currently owned by corporate insiders.

Allegiant Travel Trading Up 5.2 %

Shares of Allegiant Travel stock traded up $3.08 on Wednesday, reaching $62.38. 487,366 shares of the company's stock were exchanged, compared to its average volume of 361,281. The company has a market capitalization of $1.14 billion, a P/E ratio of 19.74, a price-to-earnings-growth ratio of 3.11 and a beta of 1.65. Allegiant Travel has a 52 week low of $36.08 and a 52 week high of $85.91. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.71 and a current ratio of 0.74. The firm's 50-day moving average is $46.05 and its two-hundred day moving average is $50.99.

Allegiant Travel (NASDAQ:ALGT - Get Free Report) last released its earnings results on Wednesday, July 31st. The transportation company reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.93. The company had revenue of $666.28 million for the quarter, compared to the consensus estimate of $657.74 million. Allegiant Travel had a negative net margin of 0.57% and a positive return on equity of 3.48%. Allegiant Travel's quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.35 EPS. Sell-side analysts predict that Allegiant Travel will post 1.47 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut shares of Allegiant Travel from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $75.00 to $53.00 in a research note on Monday, July 8th. Barclays decreased their price target on Allegiant Travel from $55.00 to $45.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 10th. TD Cowen lifted their price objective on Allegiant Travel from $33.00 to $42.00 and gave the stock a "hold" rating in a research note on Thursday, October 3rd. Evercore ISI increased their target price on shares of Allegiant Travel from $60.00 to $65.00 and gave the company an "in-line" rating in a research report on Thursday, October 3rd. Finally, Morgan Stanley dropped 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 research report on Monday, July 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target 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.